RE:RE:RE:cj is falling below $6,50Lower than expectations is never positive news.
Interest rate reductions will stimulate the economy just as interest rate hikes slowed it.
You can say politics is driving the markets but you can't prove it and slowing US and Chinese economies are actual fundamentals driving oil market futures traders and therefore oil markets.
The falling SP is not an issue for me short term. FED rate cuts will stimulate the economy and with it oil demdnd.
GLTA
VeritasVern wrote: So the US jobs report came in at +142,000 jobs added but lower than the expectation for 161,000. And while positive news the oil market sells off. Compare that to the very big oil draws from both the API and EIA that had little to no effect. Politics is driving the markets NOT fundamentals. Lower interest rates such as a quarter point reduction will not be the spring board for higher prices because it will signal a weaker economy. If direct data showing oil use such as the oil inventory draws cant have an impact on prices then secondary data such as a quarter point int reduction will have zero and perhaps continue to put pressure on prices. We are in a new relm of markets where politics are controling the market. Welcome to Bidenonomics or should it be Brandenonomics?