Going to keep my post short. Credit spreads. That's it. Investment grade credit spreads are the tightest since April 2022 and they made a leap tighter Friday. "High yield" credit spreads are also in the vicinity of where they were last April. Those are big moves from where they were in June.
S&P closed above the 50 week which has meant a sizeable pump every time since 1990 save one in early '02. 50 week will be somewhere around 401-401.25 next week so that's a key...

About a month ago, the group of Seven (G7) coalition imposed a price cap on Russian oil with the objective of reducing Russia’s oil revenue which goes to fund its war machine. G7--which consists of the United States, the 27-nation European Union, Canada, Australia and Japan-- set at a maximum price of 60 USD per barrel for Russian crude oil with the provision that the cap can be adjusted in the future in order to respond to market developments. This ...

Treasury Secretary Janet Yellen on Friday notified Congress that the U.S. will reach its statutory debt limit next Thursday.
After that, the Treasury Department this month will begin “taking certain extraordinary measures to prevent the United States from defaulting on its obligations,” Yellen wrote in a letter to new House Speaker Kevin McCarthy, R-Calif.
The Treasury “is not currently able” to esti...

U.S. oil majors Exxon Mobil Corp and Chevron Corp—along with France's TotalEnergies, are taking a long, hard look at upping their investments in India's oil and gas exploration and production sector, India's oil minister said in a Friday speech, carried by Reuters.
ExxonMobil said back in December that its 2023 spending plans include $23 billion - $27 billion in capital investments to maintain its current production level of 3.7 million boepd. Longer-te...