Jason Schenker
Jason Schenker
certainly data earnings market piece points report retail sales solid stock weeks
The retail sales report was the most significant piece of data we had in weeks and that certainly had the stock market going. It points to a solid first quarter, with earnings growth.
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After the PPI bounced last week due to higher energy costs, there is a big risk of the CPI following suit next week. There is significant upside risk there.
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A couple of weeks ago we saw prices were moving toward $70 again. This is a very volatile marketplace but I think on the whole we are likely to see the average price this year higher than last year.
apply continues decline downward imports iranian manifest next notion petroleum prices relatively remains rise situation week
If the rise in imports and utilization manifest this week continues next week, it could apply some downward pressure. Of course, any decline in petroleum prices would be predicated on the notion that the Iranian geopolitical situation remains relatively quiet.
continued economic growth huge inflation likely next week
Next week is a huge week for data, and it is likely to show continued economic growth and inflation well under control.
allow drop slight typical week
It is typical to see a slight drop in utilization in the first week of the year. This slight drop, coupled with imports, could allow for a slight crude-inventory build.
announced beginning decision exert impact next somewhat statements week
OPEC's statements and quota decision announced at the beginning of next week could exert a somewhat bearish impact on prices.
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The bigger question is does OPEC have excess capacity that it can tap into in the longer-term, ... It appears they're unlikely to raise their quotas, and that's not going to assuage market concerns about their capacity.
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Strong continued gross domestic product growth and solid employment gains should fuel further home sales and may mitigate some of the slowing engendered by higher interest rates.
crude further nuclear price push situation
A further deterioration of the situation in Nigeria, or escalation of nuclear brinkmanship with the Iranians, could push the (New York) price of crude further to 70 dollars.
economy implicitly imply indicate industrial levels likely orders remain sector strong
Strong levels of unfilled orders imply a strong U.S. economy and implicitly indicate more manufacturing in the pipelines. Clearly, the industrial sector is likely to remain strong in the near- and medium-term.
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The ISM service survey joins a number of economic indicators that have shown robust economic resilience in the wake of Katrina and Rita,
average gasoline likely pump records
With gasoline futures at records a nationwide average of $3 at the pump is likely in the near-term.
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There is no strategic government reserve of natural gas or refined products, and right now the biggest concerns in the marketplace are for products.