Author: The INO.com Team

Hello Traders everywhere. Crude oil has fallen more than 3% triggering a new red weekly Trade Triangle. The cause of the decline is, of course, Hurricane Harvey. Gasoline prices surged to a two-year high as Harvey kept hammering away on the U.S. Gulf Coast, knocking out several refineries which have and will continue to disrupt fuel production.

The reduce input of oil into those refineries will cause a rise and back-up in oil supplies, increasing the supply glut.

Our thoughts and prayers go out to everyone in the Gulf Coast area. If you’d like to make a donation to help you can reach out to the American Red Cross here.

Key levels to watch next week: Continue reading "Oil Falls As Gasoline Rises" →

Hello Traders everywhere. Reforms put in place after the 2007 to 2009 crisis have strengthened the financial system without impeding economic growth, and any changes to these rules should remain modest, Federal Reserve Chair Janet Yellen said Friday in her fullest defense yet of the regulations enacted after the Great Recession.

“The balance of research suggests that the core reforms we have put in place have substantially boosted resilience without unduly limiting credit availability or economic growth,” the Fed chair said at an annual central bank research conference.

However, Yellen did not mention monetary policy in her prepared remarks, disappointing some investors who had hoped she might offer hints on the Fed’s path on interest rates.

U.S. stocks rose, and the dollar fell, while Treasury yields dipped slightly.

Key levels to watch next week: Continue reading "Market Higher After Yellen Speaks At Jackson Hole" →

Hello Traders everywhere. Once again the threat of a U.S. Government shutdown is pushing stocks lower. At a rally in Phoenix, AZ last night President Donald Trump said, "If we have to close down our government, we're building that wall."

Wall Street also has its sights set on Jackson Hole, Wyoming this week, where a coalition of central bankers are meeting for the Federal Reserve's annual Economic Policy Symposium.

Both Fed Chair Janet Yellen and European Central Bank President Mario Draghi are set to speak on Friday. Yellen will likely discuss weak inflation and the Fed's plan to rein in its balance sheet. Strategists doubt that the Fed will initiate any significant policy changes or increase rates with the personal consumption expenditures (PCE) price index making slow gains over the past few months.

Key levels to watch next week: Continue reading "Stocks Lower On Threat Of Government Shutdown" →