NEWS

Google Ad

The US trade deficit increased 3.1% to $71.2 billion in May as rebuilding inventories for rising demand in a reopening economy pulled in imports. Goods imports rose 1.2% to $234.7 billion and exports of goods gained 0.3% to $145.5 billion, a record high.

US in June added 850K non-farm payrolls jobs more than forecasted 720k, May prev 559k was revised to 583k. US June ADP employment +692K was higher than +600K expected. Unemployment rate rose to 5.9% from 5.8%. US Average Hourly Earnings (M/M) 0.3% unchanged.

Online retail investing app Robinhood publicly filed its stock prospectus with the SEC on Thursday to be listed on the Nasdaq stock market under the ticker symbol HOOD. The company confidentially submitted a draft registration with the SEC in March.

Natural gas futures broke $3.80 ahead of EIA reporting a higherr than consensus build of +76 Bcf again in gas storage last week.  The market is focusing on demand, option strikes and hedging levels. Gas flows to U.S LNG export terminals last Friday were 10.2 bcf, almost double a year ago.

WTI Oil traded to 3 year highs over $74.20 ahead of EIA reporting a draw in crude of -6718kbbl (including a -1460kbbl draw at Cushing) Gasoline stocks grew 1522kbbl and Utilization rose 0.4% to 92.7% back to the highest since the Pandemic began. Production unchanged at 11,100 kbpd.

Google ads