Our TCOIL preview for this week’s EIA DOE Weekly Petroleum Status Report highlights the key variables to watch out for. Crude oil markets are watching products and production after earnings with the all important import export trade.
Oil giant ExxonMobil $XOM reported better than expected third quarter earnings Friday as production and Oil-equivalent production was 3.9 million barrels per day, up 2 percent from the prior year.
Boeing $BA reported better than expected third quarter earnings, beating expectations and raising guidance before the market open Wednesday. Boeing has been the best performing Dow stock in 2017 and has benefited more than most from the Trump Administration.
Our TCOIL preview for this week’s EIA DOE Weekly Petroleum Status Report highlights the key variables to watch out for. Crude oil markets are watching for products and production after the hurricanes with the all important import export trade.
Global industrial equipment manufacturer Caterpillar $CAT reported better than expected third quarter 2017 earnings before the market open Tuesday. $CAT followed up Q1 & Q2 where it crushed earnings and also raised guidance. Shares soared 7% in the pre market.
Amazon.com $AMZN joins FAANG Alum Alphabet $GOOGL to report this week on Thursday, $NFLX has already reported and Facebook $FB reports Nov 1. The big questions will be the Whole Foods and intergration and what is Jeff Bezos up to?
Industrial and aerospace heavyweight Honeywell $HON reported better than expected earnings on Friday before the market opened and reffirmed guidance. Just last week Honeywell confirmed it would split two noncore units into separate publicly traded companies by years end.
Oil and gas services heavyweight Schlumberger $SLB reported earnings on Friday before the market opened. $SLB experienced expanded market share in key regions in North America with oil rigs operating in the U.S. trending lower in recent months.
General Electric reported worse than expected earnings on Friday October 20 before the market opened. The stock has been moving the opposite to the general market with $GE near 2 year lows as the S&P and Dow trade at all time highs. $GE was down nearly 5% after the release.
The Federal Reserve released it’s Biege Book Wednesday with the focus on wages and labor markets. The labor market continues to confound the bankers as despite a tight labor market restraining growth wage pressure remains modest.