Hello MarketClub members everywhere. As expected the stock market is headed higher today after yesterday's sell-off. However, trading volume is decidedly low heading into the long 4th of July weekend.
Let’s take a look at where the markets stand and where they are finishing up the 2nd quarter of 2017.
Key levels to watch next week: Continue reading "Wrapping Up The Second Quarter Of 2017"
The bond market may have stopped listening to the Federal Reserve, but that doesn't mean we shouldn't know what the voting members of its monetary policy committee are thinking. What's clear is that they're not as united as they were at their last meeting just two weeks ago, when they voted nearly unanimously to raise interest rates by 25 basis points, with only Minneapolis Fed President Neel Kashkari voting against.
Now, no sooner was the vote cast, but it appears that it at least one member, maybe two, have misgivings about voting for the increase. At the very least, they're not as much in a hurry to raise rates again soon, if not until the end of this year, if not even later.
Still, as you would expect – or hope for – in a body of intelligent people, there's a strong difference of opinion on what the Fed should do next as it concerns interest rates. Continue reading "Should We Believe The 'Transitory' Story?"
As Exchange Traded Funds become more popular and more money flows into this asset class, it is inevitable that more ETFs will both open and unfortunately close. Currently there are more than $3 trillion in assets in ETFs spread across more than 2,000 different options to choose from.
In 2016 we saw 216 new Exchange Traded Funds. But we also saw 58 funds closed last year. While there can be a number of different reasons funds are closed, the bulk of ETF closures occur because of one of the following three reasons; a weak ETF issuer, low assets under management, or a low rank within its industry.
If you understand why these are the three main reasons an ETF will close, you will be able to avoid buying ETFs that show similar traits. Furthermore you will likely save yourself a big head-ache, and more importantly a lot of money. Continue reading "Why ETFs Close And How To Avoid Buying One That May Close"
Analysis originally distributed on June 21, 2017 By: Michael Vodicka of Cannabis Stock Trades
Legal cannabis scored another big victory this week.
In April, Mexico's lower parliament overwhelmingly voted to legalize medical cannabis, voting 357 to 7.
Then, earlier this week, Mexico's President Enrique Pena Nieto signed the bill into law, legalizing the use of medicinal cannabis THC, CBD, and all cannabis derivatives. The new legislation also makes it legal to produce and distribute cannabis for medical and therapeutic purposes.
Early estimates project sales between $1 billion and $2 billion in the first 10 years. That would come out to between $100 and $200 million per year.
The size of Mexico's young cannabis market will pale in comparison to the US and Canada.
In 2016, US cannabis sales totaled $6.5 billion. Continue reading "Mexico Legalizes Medical Cannabis - Here's How You Can Profit"
OPEC has set as its goal to reduce global OECD oil inventories to their five-year average. In his opening address to the 172nd meeting of the OPEC conference, Saudi Arabia's Minister of Energy, Industry and Mineral Resources, Khalid A. Al-Falih, remarked, "The market is now well on its way toward rebalancing."
After the meeting, Mr. Al-Falih said in a press conference that the current production quotas will "do the trick" of rebalancing stocks to normal levels within six months. But they extended the cuts to nine months because of the seasonal decline in demand expected in the first quarter of 2018.
In May, OPEC reported that OECD global inventories are 276 million above the 5-year average. OPEC estimated its production in the first quarter to be 31.944 million barrels per day (mmbd). Assuming April's production of 31.7 holds for the remainder of 2017, there will be a total global stock draw of just 29 million in 2017: Continue reading "Global Seasonal Oil Stock Draw In Jeopardy"
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