Dollar Trims Early Gains As Stocks Back Off Highs

Dollar Trims Early Gains As Stocks Back Off Highs

The dollar lost some of its overnight gains that were a result of remarks from Philadelphia Fed President Patrick Harker putting a March rate hike back in play. Though he stressed that the move depends on labor and wage measures, the mere mention of a March tightening sent the dollar sharply higher against the major currencies. But by the North American open, the uptrade was already showing signs of wear. […]

Read More ˃
Short-Dated Yields Grind Higher

Short-Dated Yields Grind Higher

The Treasury curve was tugged a couple different directions on Tuesday, stuck between equity equivocation and 3-year supply. After rising with stocks overnight, yields settled mostly lower as Wall Street stalled out. The dollar had surged on hawkish remarks from Philadelphia Fed President Patrick Harker late Monday, lifting yields as well, but the gravitational pull of stocks quickly capped them along with the retreat in crude oil. Minneapolis Fed President […]

Read More ˃
Equity Indexes Seeing Mild Gains Tuesday as Tech, Capital Goods Lead, JPMorgan Says

Equity Indexes Seeing Mild Gains Tuesday as Tech, Capital Goods Lead, JPMorgan Says

Equities are seeing mild gains as indexes recoup losses from Monday. There’s little narrative-shifting news on Tuesday, and investors are still focused on growth and earnings, JPMorgan said in a midday report. Eurozone politics and US pro-growth policies are at the forefront of investor news, the bank said. “Keep in mind the calendar is very sparse over the next week (which means trading is likely to stay slow) — the […]

Read More ˃
Occidental Petroleum Says 190% of 2016 Production Was Replaced

Occidental Petroleum Says 190% of 2016 Production Was Replaced

Occidental Petroleum (OXY) said late Monday its worldwide proved reserves amounted to 2.4 billion barrels of oil equivalent (BOE) at the end of 2016, compared with 2.2 billion BOE a year ago. In 2016, the company had proved reserve additions from all sources of 437 million BOE, compared with production of 231 million BOE, for a reserves replacement ratio of nearly 190%, according to a statement. Preliminary domestic proved reserves […]

Read More ˃