Olivar & Greb Capital Management
  • About Us
  • Our Services
    • Investment Management >
      • Retirement Planning
      • Executive Compensation Management
      • Education Planning
      • Trust & Estate Planning
    • U.S. Tax Services
    • American Expat Services
  • Meet The Team
  • CLIENT PORTALS
    • SCHWAB LOGIN
    • INTERACTIVE BROKERS LOGIN
    • FINANCIAL PLANNING CLIENT PORTAL
  • Contact Us
  • Community
    • Volunteer & Non Profit
    • The Value Investor's Library
  • Careers
  • 中文

O&G Research and Thinkpieces

July 11, Market Update

7/12/2018

 
Stocks snapped a four-session winning streak on Wednesday as U.S.-China trade tensions retook center stage and as crude oil prices tumbled, weighing on energy shares. The S&P 500 dropped 0.7% to 2774, the Dow Jones Industrial Average declined 0.9% to 24700, and the Nasdaq Composite slid 0.6% to 7717.
Picture
Meanwhile, in Brussels, a two-day NATO summit got off to a contentious start after President Trump criticized Germany for approving a major gas deal with Russia. NATO leaders later recommitted to a military spending target of 2% of GDP by 2024 at the urging of Mr. Trump, who was pushing for doubling the target to 4%.

Back on the home front, energy stocks tumbled as crude prices retreated from a three-and-a-half year high. Several factors contributed to the crude sell off, including a muted/negative response to a bullish inventory report, which showed a huge drop of 12.6 million barrels -- the biggest weekly drop since September 2016. WTI crude futures tumbled 5.0% to $70.38 per barrel, and the S&P 500's energy sector declined by 2.2%, closing at the bottom of the sector standings.
​
The industrials (-1.6%) and materials (-1.7%) spaces, both of which are sensitive to trade issues, were the next-worst performing groups, while most other spaces lost no more than 0.8%. Out of 11 groups, the utilities space (+0.9%) was the only one to finish in the green, continuing to rebound from Monday's 3.1% drop.​


Source: Briefing.com 
Graph: Google Finance

Comments are closed.

    About the O&G Research Team

    The O&G Research Team publishes insights on the global markets. Our research scope ranges from the US to China.

    Categories

    All
    Events
    Market Updates
    News
    Think Pieces

    Follow us on WeChat:
    Picture
     

    RSS Feed

    Read new articles and updates everyday on your phone! 

    Disclosures 

    We may invest in some of the companies mentioned on this website. We are not responsible for the content on any external links on this website. The opinions expressed in this report do not constitute a buy or sell recommendation.
Olivar & Greb Capital Management, LLC
US Registered Advisory CRD#: 285905
​
16192 Coastal Highway, Lewes, Delaware 19958, County of Sussex
Framingham, Massachusetts, 01701, United States of America
上海市静安区835陕西北路28号
​
Check the background of this investment professional on FINRA BrokerCheck
Disclosures | Business Continuity Plan | Privacy Policy | Relationship Summary | Copyright 2020
  • About Us
  • Our Services
    • Investment Management >
      • Retirement Planning
      • Executive Compensation Management
      • Education Planning
      • Trust & Estate Planning
    • U.S. Tax Services
    • American Expat Services
  • Meet The Team
  • CLIENT PORTALS
    • SCHWAB LOGIN
    • INTERACTIVE BROKERS LOGIN
    • FINANCIAL PLANNING CLIENT PORTAL
  • Contact Us
  • Community
    • Volunteer & Non Profit
    • The Value Investor's Library
  • Careers
  • 中文