Key energy events
On January 2–5, 2018, US crude oil prices will be more reactive to the inventory and weekly US crude oil production data. In Part 1, we analyzed the importance of US crude oil production for oil (UCO) (BNO) (OIIL) prices.
Similarly, inventory data for natural gas prices scheduled on January 4, 2018, would also be important for natural gas prices near the $3 level. We discussed this earlier. The oil rig count and natural gas rig count data could be important for more bullishness in natural gas and oil prices in 2018. Movement in oil prices might be important for the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) due to their exposure to energy stocks, as we discussed in Part 2.
For more analysis, visit Market Realist’s Energy and Power page.
Hain Celestial has undertaken a massive SKU optimization program. In fiscal 4Q17, the company stated that it had streamlined 20% of its US inventory.
Hibbett Sports (HIBB) stock surged 22.3% as of 1:54 PM ET today as the company reported impressive results for fiscal 2019's fourth quarter, which ended on February 2.
Wall Street analysts expect a potential upside of 21.63% for Alexion Pharmaceuticals based on the stock's closing price on March 21.
Today, we got another round of dismal data points from Europe (VGK)(EZU). According to a Markit survey, Germany’s (EWG) March PMI Composite Output Index fell to a 69-month low of 51.5.
On March 21, US crude oil’s implied volatility was 24.9%, which was 6.7% below its 15-day average. Usually, lower implied volatility supports oil prices.
The overall cannabis sector took a hit today amid the broader market's declines. The volatility index (VIX) jumped 17.9%, and the cannabis sector is more sensitive than the market.
The tech-heavy NASDAQ Composite Index (QQQ) is on track to post its 12th weekly gain in 13 weeks.