10/2/2015 Market Update

By: Matt Rosenberg / October 2, 2015

The following is a list of items that are impacting the market today:

-          The just released jobs report which was lower than expectations (142,000 jobs added in September vs. 200,000 expected)

-          China’s imports of crude remains down

-          Russian bombings into Syria creating geopolitical tensions

-          Hurricane Joaquin veering away from a direct hit on the US


As a result, as of the time of this writing the diesel and gas futures market is down .02 cents to .05 cents while crude oil is slightly down.  

These points have led one prominent financial analyst to predict that a rebound could be near stating  “when there’s bad news and something doesn’t decline, it usually means it’s at a bottom and will be turning.”

Please see the three pictures below as “a picture is worth a thousand words.”

Picture 1) Yesterday’s closing numbers

Picture 2) Joaquin’s projected near miss

Picture 3) Crude’s six-month price chart 

Have a great weekend!

 

Numbers

Weather_Path

 

Market_Graph


Categories: Daily Market Update


Matt Rosenberg

Written by

Matt Rosenberg

As a key accounts manager, Matt helps large customers make mission-critical decisions by providing timely advice regarding market conditions.


Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.


Comments

Subscribe to our blog

Price Feed

Stay up-to-date on current fuel prices and market trends with our NYMEX price feed (15 minute delay to the live market).

© 2018 Market data provided and hosted by Barchart Market Data Solutions. Fundamental company data provided by Morningstar and Zacks Investment Research. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.

Categories

Contact Us