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ThePitBoss
May 25, 2017, 05:47:31 PM by ThePitBoss
Views: 236 | Comments: 2

The world's largest video game retailer GameStop (GME) shares were slashed over 6% after disappointing first-quarter earnings due to higher costs and charges related to store closings. After closed up 4.01% on the day on hope after strong earnings from gaming companies EA, Take-Two and NetEase. Clearly the punters forgot GME is a retailer. GME's new hardware sales for 1Q17 grew 24.6%, led by the highly sought after Nintendo Switch.

Earnings $59 million, or 58 cents a share, lower than $65.8 million, or 63 cents a share, a year earlier. Revenue rose to $2.05 billion from $1.97 billion Analysts surveyed by FactSet had forecast earnings of 53 EPS on revenue of $1.97 billion. On an adjusted basis EPS was $0.63.
 
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TradersCom
May 24, 2017, 03:05:50 PM by TradersCom
Views: 461 | Comments: 3

EIA's Weekly Gas Storage Report Report Date: 5/18/17
Release Time: Thursday May 25 2017 10:30 ET

Natural gas futures volatility is picking up as bullishness prevails with expectations of hot weather and Mexico demand. Last week’s weather was 44 percent warmer than last year and 17 percent warmer than the five-year average. Since last September, weather has been 1% colder than last year and 11% warmer than the five-year average.  Bentek said “The vast majority of sampled salt dome facilities posted either smaller net injections for the week or flipped from making net injections to making net withdrawals. There is some risk to a higher south-central region injection given historical patterns ... ”

Market Expectations
Actual +75 Bcf Prior Actual +68 Bcf
Consensus Forecast  +70 Bcf
Cons. Range: +65 to +79 Bcf
EIA swap: +68 to +69 @ CT 15.13

Last Week's Report +68 Bcf #TCNG
 
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TradersCom
May 24, 2017, 10:14:27 AM by TradersCom
Views: 281 | Comments: 0

The takeaway from today's DOE Weekly Petroleum Status Report is all about PADD3, crude runs and gasoline margins. "US gasoline demand is rising faster than anyone has anticipated for how early in the season we are" @energybasis. This is a combination of warmer weather and cheaper prices.

Finished Motor Gasoline (mogas) demand rose by 0.252 mbpd to 9.704 mbpd. This puts demand 0.188 mbpd higher YOY. The record runs are evident in gasoline stocks which are currently -0.229 mbbls lower YOY. Mogas stocks fell by -0.787 mbbls to 239.88 mbbls this past week.

What is also significant is gasoline margins have crashed as Bloomberg reports Rachel Graham @RachMGM and Laura Blewitt @laurablewitt as Gulf Coast runs hit a record. See chart on the right.

 
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TradersCom
May 23, 2017, 11:52:10 AM by TradersCom
Views: 630 | Comments: 9

OPEC has released Thursday's OPEC meeting schedule which will include the non-OPEC nations in the existing supply agreement meet in Vienna on May 25. Following Wednesday's meet and great and palm grazing session;

Key Times for May 25 Meeting in Vienna local time
Part 1 172nd Meeting of the OPEC Conference
10am 0600 GMT, 2 am ET) : OPEC meeting begins
Part 2 2nd OPEC and non-OPEC Ministerial Meeting
3pm (1300 GMT, 9 am ET) : OPEC, non-OPEC meeting begins
Part 3 Joint Press Conference with OPEC & Russia
5pm (1500 GMT, 11 am ET): Press conference with OPEC's Barkindo and Russia's Novak.

OPEC Considering 9 Month Deal Extension or More.
OPEC Monthly Oil Market Report May 2017t

 
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TradersCom
May 23, 2017, 10:37:44 AM by TradersCom
Views: 564 | Comments: 4

DOE Weekly Petroleum Status Report Date: 5/17/17
Release Time: Wednesday 24 May 2017 - 10:30 ET

Market Expectations
Crude -4432k vs exp Draw -2700k Prior   -1753k API -1500k
Cushing -742k vs exp Draw -37k  Prior+ 35k API  -210k
Gasoline -787k vs exp Draw -1100k Prior -413k vs API -3200k
Distillate -485k vs exp  Draw -1000k  Prior-1944k API -1900k
Refinery utilization +0.10% exp +0.7% Prior +1.9%
Weekly production +0.015 mbpd to 9.320 mbpd +0.553 mbpd higher YOY.

Imports Prior +.970M
Note in bbls *exp = Reuters poll est except Cushing 

View Prev Week Report & Analysis.
 
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Economic Calendar
Monday, May 29, 2017
China - Dragon Boat Festival
United States - Memorial Day
United Kingdom - Bank Holiday
     NZD      Building Consents (MoM) (Apr)
     JPY      Household Spending (Apr)
     JPY      Jobs/applications ratio (Apr)
     JPY      Retail Sales (YoY) (Apr)
     AUD      Building Approvals (MoM) (Apr)
Tuesday, May 30, 2017
         China - Dragon Boat Festival
     EUR      French GDP (QoQ) (Q1)
     EUR      French Consumer Spending (MoM) (Apr)
     EUR      Spanish CPI (YoY) (May)
     EUR      Spanish HICP (YoY) (May)
     EUR      German CPI (MoM) (May)
     USD      Core PCE Price Index (Apr)
     USD      Personal Spending (MoM) (Apr)
     CAD      Current Account (Q1)
     CAD      RMPI (MoM) (Apr)
     USD      S&P/CS HPI Composite - 20 n.s.a. (YoY) (Mar)
     USD      CB Consumer Confidence (May)
     JPY      Industrial Production (MoM) (Apr)
     CNY      Manufacturing PMI (May)
     CNY      Non-Manufacturing PMI (May)
     NZD      ANZ Business Confidence (May)
     AUD      Private Sector Credit (MoM) (Apr)
Wednesday, May 31, 2017
     EUR      German Retail Sales (MoM) (Apr)
     EUR      German Unemployment (May)
     EUR      Italian CPI (MoM) (May)
     EUR      CPI (YoY) (May)
     EUR      Unemployment Rate (Apr)
     CAD      GDP (QoQ) (Q1)
     CAD      GDP (MoM) (Mar)
     CAD      GDP Annualized (QoQ) (Q1)
     USD      Chicago PMI (May)
     USD      Pending Home Sales (MoM) (Apr)
     BRL      Interest Rate Decision
     KRW      CPI (YoY) (May)
     AUD      AIG Manufacturing Index (May)
     JPY      Capital Spending (YoY) (Q1)
     AUD      Private New Capital Expenditure (QoQ) (Q1)
     AUD      Retail Sales (MoM) (Apr)
     CNY      Caixin Manufacturing PMI (May)
Thursday, June 1, 2017
     EUR      Spanish Manufacturing PMI (May)
     EUR      Italian Manufacturing PMI (May)
     EUR      French Manufacturing PMI (May)
     EUR      German Manufacturing PMI (May)
     EUR      Manufacturing PMI (May)
     GBP      Manufacturing PMI (May)
     BRL      GDP  (Q1)
     USD      ADP Nonfarm Employment Change (May)
     USD      Manufacturing PMI (May)
     USD      ISM Manufacturing Employment (May)
     USD      ISM Manufacturing PMI (May)
     AUD      HIA New Home Sales (MoM) (Apr)
Friday, June 2, 2017
     GBP      Construction PMI (May)
     BRL      IPC-Fipe Inflation Index (MoM) (May)
     BRL      Industrial Production (YoY) (Apr)
     USD      Average Hourly Earnings (MoM) (May)
     USD      Nonfarm Payrolls (May)
     USD      Participation Rate (May)
     USD      Private Nonfarm Payrolls (May)
     USD      Trade Balance (Apr)
     USD      Unemployment Rate (May)
     CAD      Labor Productivity (QoQ) (Q1)
     CAD      Trade Balance (Apr)