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TradersCom
Today at 11:26:52 AM by TradersCom
Views: 96 | Comments: 0

Tomorrow is Brexit Day, British PM Theresa May will formally start the Brexit process with the European Union. May confirmed at earlier she would trigger Article 50 on 29 March 2017.

Markets Ahead Of Invoking article 50
- London stocks closed up, FTSE 100 was up 49.92 points (+0.68%) to 7343.42. The FTSE 250 closed up 53.33 (+0.28%) to 18,953.30 . BP up 0.65% to 450.83p.
- Weakness in sterling against the dollar, GBPUSD traded around 1.2496 at the close, EURGBP .8678 EURJPY 119.95
- Brent crude were up  around 1.7% at the FTSE Close

 
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TradersCom
Today at 10:48:36 AM by TradersCom
Views: 153 | Comments: 0

Open-source Linux software provider Red Hat $RHT shares ripped 5% higher after better-than-expected fourth-quarter fiscal 2017 results. Earnings, including stock base compensation of 42 cents EPS  beat consensus by 3 cents. Significantly this was a huge turnaround from last report where RHT collapsed 13% after warning on future revenue and missing this quarters sales numbers.

Red Hat EPS revenues increased 15.7% year over year to $629 million, primarily driven by strong subscription revenues and cross-selling of cloud-enabled technology. The figure was better than the consensus estimate of $620 million and the guided range of $614 - $622 million.

Reaction: Red Hat RHT Mar 28, 11:33 AM EDT 86.59 +4.39 (+5.34%)

 
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HeidsterTrades
Today at 07:38:29 AM by HeidsterTrades
Views: 83 | Comments: 0

I came across this article this morning about the tokomak, or giant nuclear fusion reactor being built in France and first discussed in 1985. This is a multi-national effort between the US, China, Russia and the EU.  The project has had its fits and starts over the years, but with a new director Bernard Bigot, the project appears to be moving forward.

The reactor is looking to be finished in the next year or two.  The time limiting factor here is the development of the plasma that will go into the reactor.  First, the reactor works to produce electricity through heating of water and that the turning of turbines.  The fusion reaction that will take place in the reactor is exothermic (it releases heat), just as fusion occurs within the sun. 
 
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TradersCom
March 27, 2017, 01:35:18 PM by TradersCom
Views: 165 | Comments: 0

Just a week after Saudi Arabia was downgraded by Fitch the Saudi's have cut state oil producer Saudi Aramco's income tax rate  to 50 percent from 85 percent. This ahead of Aramco’s IPO to make the offering palatable for foreign investors.

Chief Executive Officer Amin Nasser made the announcement in an emailed statement. Saudi Arabia aims to sell as much as 5 percent of the company late next year in an IPO that the kingdom estimates could value the business at about $2 trillion.

Significantly for 5% of ownership KSA is giving up 35% of tax in an environment of falling revenues and oil prices.  That certainly gives us a clue as to Saudi's valuation of the present value of money. Reducing Aramaco's income tax payments will free up billions of dollars of cash flow that Aramco to pass on as higher dividend payments.
 
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TradersCom
March 27, 2017, 10:14:59 AM by TradersCom
Views: 266 | Comments: 1

The Federal Reserve Bank of Dallas released it's March Texas Manufacturing Outlook Survey which keeps the energy rich state abreast of the it’s factory activity. Texas factory activity increased for the ninth consecutive month in March. This follows Baker Hughes latest rig count shows US drillers added oil rigs for the 10th week in a row and the US producing at 9.1 mbpd and increasing with the Texas basins the hotspots. The general Index fell off but the key production index condition to rise.

Key respondent Quotes:
Quote
- As oil and gas goes, so goes our economy.
- The price of oil has been disappointing for the major players and is affecting their maintenance and capital spending levels. Traditionally this should be one of our busiest times of the year, but the uptick normally seen has not materialized.
 
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What’s ahead this week:
Mar 28   Adv. International Trade in Goods
Mar 28   Adv. Wholesale Inventories
Mar 28   S&P Case-Shiller Home Price Index
Mar 28   Consumer Confidence
Mar 29   MBA Mortgage Applications Index
Mar 29   MBA Mortgage Index
Mar 29   Pending Home Sales
Mar 29   Crude Inventories
Mar 30   GDP - Third Estimate
Mar 30   GDP Deflator - Third Estimate
Mar 30   Initial Claims
Mar 30   Continuing Claims
Mar 30   Natural Gas Inventories
Mar 31   Personal Income
Mar 31   Personal Spending
Mar 31   PCE Price Index
Mar 31   PCE Prices - Core
Mar 31   Chicago PMI
Mar 31   Michigan Sentiment - Final


Global stocks gained $906bn in mkt cap this week, equals GDP of Indonesia as great rotation into equities continues following strong US data

@Schuldensuehner

One of the most important charts of 2016
via @topdowncharts   

Bank of Japan is set to become the biggest buyer of exchange-traded funds in 2016 for the second straight year http://s.nikkei.com/2i5gXKs
via @vexmark   

Is Bitcoin the new safe haven. Digital currency keeps rising while Gold prices keep falling.
via @Schuldensuehner

Japan's central bank has purchased enough stock to completely offset sales by foreigners

via @HayekAndKeynes

US IPO activity has gone into decline

@topdowncharts