Global Macro Perspectives
Number of oil drilling rigs rose for 16 rigs for the week ending June 11, 2010; Number of natural gas drilling rigs rose for 7 rigs in the same time frame. On world scale number of drilling rigs rose for 50 rigs in May. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly […]
Important U.S. earnings this week: Monday: La-Z-Boy (LZB), Korn/Ferry International (KFY) Tuesday: CLARCOR (CLC), Best Buy (BBY), Casey’s General Stores (CASY), Stanley (SXE) Wednesday: FedEx (FDX) Thursday: Winnebago Industries (WGO), John Wiley & Sons (JW-A), The J. M. Smucker Company (SJM), Actuant Corporation (ATU), The Kroger (KR), Smithfield Foods (SFD) Friday: – Important U.S. economic […]
Baltic dry index fell 14.5% last week; The hardest hit were Capesizes with 16.3% loss and Panamaxes with 13.3% loss; Supramaxes and Handysizes lost 12.1% and 6.5%. Platou Markets: Chinese iron ore imports fell to 51.9 mt in May from 55.3 mt in April. After being up 11.7% for the first four months of the year, […]
Did not have time to post this on Friday. Consumer sentiment for June came out at 75.5 vs. 74.0 consensus and 73.6 May reading. Markets disregarded bad retail sales report and moved higher on consumer confidence. Highest reading since January 2008. Chart 1. University of Michigan/Reuters Consumer Sentiment
Baltic Dirty Tanker Index rose 1.0%; Baltic Clean Tanker Index rose 1.6%. U.S. gulf / Europe arbitrage showing some signs of life; but overall the demand for wet transport is weak. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes