NEWS

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EIA reported a build in Crude of  4892-kbbl, a build of +1375 kbbl at Cushing.and a draw in gasoline of -1802kbbl. US production rose 100 kpd to 11,100 mbpd, off record high of 13.10 mbpd. Futures are reacting to risk off and production cut moves.

Social media company Snap, owner of Snapchat plunged 13% Tuesday after missing second quarter earnings expectations with another large net loss. $SNAP has been a great reminder of risk, herd mentality and like MySpace the perils of betting on social media longevity.

Oil and gas servicing giant Halliburton reported better than expected second quarter earnings Monday before the market with a surprise profit in Q2. $HAL's aggressive approach to cutting costs flowed through. $HAL is ahead of Schlumberger's report

The U.S took off 1 oil rig out of service to a new low 180 as U.S.oil production stayed at 11100kbpd. US Natural Gas rigs fell 4 to 75. Canadian oil rigs fell 1, natural gas rigs fell 3.

Streaming giant Netflix reported worse than expected second quarter earnings missing analyst expectations on earnings per share but beating on revenue. $NFLX fell more than 12% after hours on weak subscriber growth guidance for the third quarter.

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