Crude oil futures settle little changed at $82.23
Crude oil futures are settling at $82.23, down $0.13, or 0.16%, on the day. The session was volatile, with the price trading as high as $83.31 before falling to $79.62 and subsequently…
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The $4 trillion question: Can the hyperscalers’ enormous bet on data centers pay off
A 100 MW dedicated inference campus running GB200 NVL72 racks needs roughly $2.91 per GPU-hour to generate a 15% levered equity IRR. That’s the conclusion of a deep dive from the Scotiabank Global…
US treasury sells $70 billion of 5 year notes at a high yield of 4.393%
High yield 4.393% WI level at the time of the auction 4.391%. Tail +0.2 basis points Bid to cover 2.37X versus 2.32X Directs 28.4% vs average of 21.2%. Indirects 61.5% versus average of 65.4%…
Dallas Fed Trimmed Mean +2.2% versus 1.5% last month
The Dallas Fed trimmed mean PCE came in at 2.2% versus 1.5% last month. That compares favorably to the July core PCE your and your at 3.3%, and the headline PCE year…
Putin said to plan Ukraine escalation after seeing talks as fruitless
The CIA visit to Moscow yesterday led to some optimism about a thawing or potential deal. Instead, we’re getting a further cycle of escalation that follows rumors of 300,000 more Russians set…
Major European indices closed mostly higher with the UK FTSE 100 the exception
European shares closed mostly higher, although gains were modest as investors digested the latest U.S. inflation and growth data while awaiting Nvidia’s earnings after the close. Italy’s FTSE MIB led the gains,…
The NZDUSD sellers are testing the 200 hour MA line in the sand. Buyers are defending the MA level.
The NZDUSD moved sharply higher last week, extending to a high of 0.59831. However, buyers could not sustain the momentum to the high from late May at 0.5993 The initial decline found…
USDCHF extends up to the 200 hour MA and broken retracement target. Can the buyer break through?
In a post yesterday, I highlighted the importance of the USDCHF swing area extending down to 0.8009, along with the rising 100-hour moving average (blue line on the chart below) and the…
EIA weekly US crude oil inventories +95K vs +597K expected
Prior was +4405K Gasoline -2536K vs -670K expected Prior was +688K Distillates -2228K vs -1570K expected Prior was -1530K API data from late yesterday: Crude +4200K Gasoline -3200K Distillates -500K WTI was…
The Canadian consumer isn’t cracking yet, but the momentum is fading
Scotiabank published its NielsenIQ Omnishopper and the headline number is a deceleration: consumer spending growth ran at +6.1% y/y in the four weeks to July 11. That’s down from +8.1% in May…
Meta set to open higher but what about the technicals? What to look for today and going forward?
Meta has reached a settlement with the California attorney general and other states in a case alleging that its platforms harmed children. The states had filed claims against Meta’s at roughly $200 billion…
Meta and US states agree to settle claims that platforms harmed children
Meta is truly a vilanous company. Just this month, CEO Mark Zuckerberg was writing about all the jobs AI would create. Meanwhile, we learned in a Reuters report today that he was…