Oil is dropping after a bailout of Spain's banks has done little to ease doubts about a long-term solution for Europe's financial crisis. Benchmark oil fell 75 cents to $83.35 per barrel Monday in New York. Brent crude dropped 38 cents to $99.09 in London. European countries have agreed to lend Spain up to $125 billion to help its troubled banking system. But traders remain worried that Europe's larger financial problems will hurt demand for oil. Some of the price decline is being tempered after China said that it imported nearly 6 million barrels of crude per day in May. That's up 10 percent from April. Meanwhile, AAA says the national average for gasoline fell less than a penny overnight to $3.54 a gallon.
Category: General
Is the Generational Divide in Technology Widening?
By Alex Daley, Casey Research
My son doesn't know how to use a mouse.
He doesn't even know what one is. As far as he's concerned, it's a furry animal he's only seen in books and running around the floor of the Newark airport.
While I've known this for some time, it recently moved from the back of my mind to front and center following a brief car trip a few days ago. From the back seat, my eldest son – who for some inexplicable reason loves to watch the instructions tick by on the screen of the GPS unit sitting on the dashboard Continue reading "Is the Generational Divide in Technology Widening?"
Weekly Futures Recap W/Michael Seery
We’ve asked Michael Seery of SEERYFUTURES.COM an IB of Peregrine Finanial Group to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Busines, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show Continue reading "Weekly Futures Recap W/Michael Seery"
Cocoa and the Pound
By: Peter Mooses of RJO Futures
With possible signs of tightening in supplies out of West Africa we’ve seen cocoa rebound this week. July cocoa gave back some of its gains today though as we saw the British Pound take off. The Pound was up as we waited for news from the ECB. When news broke that the ECB left interest rates unchanged today for the sixth straight month the markets were given a lift. After May’s sell off in the Pound there is plenty of upside potential to get back up to April’s levels. Continue reading "Cocoa and the Pound"
Is the Table Set for a Mania in Precious Metals?
By Jeff Clark, Casey Research
It may feel like I'm out of touch with the precious metals markets to broach the subject of a mania today, but I think the table is being set now for a huge move into gold and silver.
There are, however, very valid reasons to reasonably expect a mania in our sector. For one thing, manias have occurred many times before, but the main issue is that a mania in gold and gold stocks is the likely result of the absolute balloon in government debt, deficit spending, and money printing. Continue reading "Is the Table Set for a Mania in Precious Metals?"
