NEWS

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June was dismal for Car sales, we are now seeing July is even worse. General Motors $GM July sales down 15.4% , Fiat Chrysler $FCAU US sales down 10.5%, Ford $F Sales down -7.4%.

Houston based oil refiner Phillips 66 $PSX on Tuesday reported better than expected 2Q17 earnings as refining and petrochemical revenues strengthened. Refining is recovering some after low fuel prices hit profit margins.

U.S. Silica Holdings Inc. $SLCA shares were pummeled over 7.5 % after it's second quarter earnings missed expectations. The stocks have been under pressure with frac sand overcapacity concerns.

The Pure Fracking play Keane Group $FRAC reported mixed second quarter earnings after the market close Monday. $FRAC was the first IPO of 2017 and it's footprint is in the Permian Basin, Marcellus Shale/Utica Shale, the SCOOP/STACK Formation and the Bakken Formation.

US pending home sales from the National Association of Realtors in June show the first gain in four months. With the stock market at all time highs and in some regions home prices at new highs home sale volumes have concerned many. 

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