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Earnings Update

Daily Recap

He's not the first to suggest it, but Fred Williams of the San Francisco Fed has more credibility than many when pointing out that the US economy is stronger than the stock market would have us believe. We may be in a bear market, but probably not one that will collapse stock prices anytime soon.

Oil prices reversed early weakness, in part due to comments out of Venezuela hinting (once again) at producer cooperation to limit supply, and thus stabilize prices. Will the Saudis and Iranians and others go along? Hard to say, but West Texas crude rose on the news, trading up to over $33/bbl.

Another big question, especially for Europeans, is whether Britain will stick around. Strong suspicions that it will leave the EU -- "Brexit" -- clobbered the pound recently, taking it to 7-year lows. Today the pound caught a breather as folks are perhaps rethinking the Brits' ... Log in or subscribe to continue reading.


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