NEWS

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Sonos released better than expected second quarter earnings after the close Thursday with the momentum of Home Theater smarter speaker Beam leading. $SONO also announced the Google Assistant support launch.

Cloud and file sharing firm Dropbox reported better than expected first quarter earnings after the close Thursday. $DBX was one of the most anticipated IPO's last year. $DBX was trading up 7% after the release.

The natural gas injection season is upon us. The EIA reported a build of +85 Bcf in natural gas storage last week, as expected as temperatures stayed are in the hot/cold sweet spot for users. Ahead we focus on LNG and Mexican exports.

The US trade deficit in March was $50.0 billion up from the prior month's $49.3 billion. We saw a 10-year high deficit of $621 billion in 2018. Trade tariffs appear to be impacting China, the Chinese/US trade deficit fell again to $20.75 billion from -$24.76 & -$34.47 prior.

EIA reported a surpise draw in crude oil storage of 3963k bbls last week. Gasoline had a draw of 595k bbls with a draw of -159k bbls in distillates last week. The shale revolution continues BUT production fell just 100k off record high of 12.20 mbpd.

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