The weekly Baker Hughes recount shows:
- Oil rigs up 6 to 605
- gas rigs up 2 to 157
- total rigs up 9 to 767
Oil is trading at $99.35
The weekly Baker Hughes recount shows:
Oil is trading at $99.35
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Nasdaq tumbles 1.8% on AI fears & Oracle's 11% drop. S&P 500 sees 4-day losing streak. Oil pops!
Short-term bond ETFs (SHY, IEI) offer ~3.3% yield & potential price gains if rates fall. Lower risk than stocks.
The Bank of England is expected to cut rates to 3.75% today after UK inflation fell to 3.2% in November. Policymakers are likely to stress a gradual approach, with limited scope for further easing as services inflation remains sticky.
The U.S. approved more than $10bn in arms sales to Taiwan, including HIMARS, ATACMS missiles, howitzers and drones. The move lifted China defence stocks and is expected to further strain U.S.–China relations.
Vanguard favors value & non-US stocks (7-6% return) over AI tech, citing better valuations & AI diffusion. Risks rise in tech.
Wheat futures mixed; HRW up 2.75c, SRW down 3.25c. China cancels export sale, but SK buys 20.8K MT.
Live cattle futures shed $1.15, spec funds trim net long. Cattle on Feed report eyed for placement clues.
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