Thursday June 22: Five things the markets are talking about
Global stocks remain on the back foot, pressured by crude oil tumbling into a ‘bear' market on concern a global supply glut will persist.
The weakness in crude and other commodities is denting the Fed's argument that weak inflation rates will be transitory, despite the domestic economy showing any signs of distress. Fixed income dealers are facing a ‘bull' flattening U.S treasury yield curve.
The yen is heading for its longest winning streak in nine-weeks, while gold continues to climb from its one-month low.
In the U.K, investors are watching the divorce proceedings with the E.U. PM May heads to Europe for her first summit since the recent election and will outline her approach towards E.U nationals before publishing a detailed plan next Monday.
Note: Fed Governor Powell speaks at a hearing of the Senate Banking Committee in Washington.
1. Stocks under pressure from commodities
Battered oil prices hovering near seven-month lows on worries about a supply glut and falling demand is taking its toll on global equity indices.
Best Bank Stocks To Invest In Right Now: Tile Shop Hldgs, Inc.(TTS)
- [By Lisa Levin]
Tile Shop Hldgs, Inc. (NASDAQ: TTS) shares dropped 23 percent to $15.68 after the company reported downbeat Q2 results.
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) were down 16 percent to $6.09 after the company posted disappointing quarterly earnings. Ericsson posted Q2 operating loss of 1.2 billion Swedish crowns ($145.3 million), versus a year-ago profit of 2.8 billion Swedish crowns.
Best Bank Stocks To Invest In Right Now: Exterran Corporation(EXTN)
- [By Dustin Parrett]
Share PriceYTDMarket CapClayton Williams Energy Inc. (NYSE: CWEI)$138.8216.4%2.4BDiamondback Energy Inc. (Nasdaq: FANG)$106.365.42%$9.38BWestern Gas Partners LP (NYSE: WES)$65.6411.71%$9.67BTesoro Logistics LP (NYSE: TLLP)$59.3416.79%$6.25BResolute Energy Corp. (NYSE: REN)$46.0811.87%$931.13MAntero Midstream Partners LP (NYSE: AM)$34.9813.28%$6.4BExterran Corp. (NYSE: EXTN)$33.9942.22%$1.19BDominion Midstream Partners LP (NYSE: DM)$32.9011.34%$2.6BNextEra Energy Partners LP (NYSE: NEP)$31.1922.12%$1.68BArchrock Inc. (NYSE: AROC)$16.0021.21%$1.12B
While some of these stocks have performed well, we arent recommending this list of natural gas stocks. Thats because we arent interested in stocks that have already peaked at Money Morning; were interested in the next big winner. And we have one that could surge in 2017
Best Bank Stocks To Invest In Right Now: Catabasis Pharmaceuticals, Inc.(CATB)
- [By Lisa Levin]
Shares of Catabasis Pharmaceuticals Inc (NASDAQ: CATB) got a boost, shooting up 46 percent to $6.52. Catabasis Pharmaceuticals and Sarepta Therapeutics Inc (NASDAQ: SRPT) reported a joint research collaboration in Duchenne Muscular Dystrophy.