NEWS

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Iconic farming, forestry and construction equipment maker Deere beat first quarter earnings before the open Friday. $DE maintained guidance despite global risks, higher US dollar and higher raw materials and freight costs fueling higher expenses and uncertainty.

Japan's PMIs in February all fell into contraction, much lower than already anemic expectations. Japanese manufacturing, service and composite PMIĀ® all fell under 50. The business outlook remains pessimistic.

Richmond Fed President Tom Barki peaking at Harvard on Thursday said that the US economy moving along at a very good pace with reduced trade uncertainty. However he is mulling if the US has necessary tools to weather a downturn.

Crude oil futures fell again after recovering some from Coronavirus fears after EIA reported a small build in crude storage and draws in gasoline and distillate. The EIA said Crude oil inventories had a build of 415k bbls. Cushing drew -133kk bbls. US production record high of 13.00 mbpd.

Natural gas futures have rallied back near $2, last week we saw a bigger than expected draw of  - 151 Bcf in natural gas storage. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

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