Monday, December 22, 2014
WASHINGTON (Reuters) - U.S. home resales tumbled to a six-month low in November after two straight months of strong increases, underscoring the uneven nature of the housing market recovery. The National Association of Realtors said on Monday existing home sales dropped 6.1 percent to an annual rate of 4.93 million units, the lowest level since May. October's sales pace was revised slightly down to 5.25 million units from 5.26 million units. November's decline probably does not signal the start of a weakening trend and in part reflected stubbornly low inventories. Economists polled by Reuters had expected sales to fall only to a 5.20-million unit pace. Housing has struggled to shift into higher gear after stagnating in the second half of 2013 in the wake of a jump in mortgage rates, which have since pulled back from their peaks. It has lagged an acceleration in economic activity as tepid wage growth, a shortage of properties available for sale and higher home prices sidelined first-time buyers.
CERRFINANCE - Rising home prices and fewer first-time home buyers would normally cause a decrease in market prices however with decreasing oil prices things are still looking positive. In addition, Feds continual support for free money we expect will continue to drive the market until next year. Looking for new Congress to mess up things by threatening government shutdown, balance budget tightening, or sequester.
TD AMERITRADE - Natural Gas Sinks 9%. Commodities are trading mostly lower this morning, while the dollar index is trading modestly lower.The index has been in negative territory all day so far, which has helped provide a little support in select commodities this morning, but not too much.Natural gas futures are the worst performing commodity today in the commodities complex and dropped sharply lower.This weakness comes on mild weather forecasts and inventory that's above year-ago levels, causing front-month natural gas to fall more than 9% lower. Jan nat gas is now -9% at $3.15/MMBtu. Metals and oil futures are all sitting near today's lows. Feb crude oil has been sliding lower since the overnight low of $58.53/barrel and is now -2.2% at $55.90/ozFeb gold is currently -0.1% at $1195/oz, while Mar silver is -0.5% at $15.94/oz. Energy - The Energy sector is down today, losing 1.35%, with all of its underlying industries lower. Energy Equipment & Services is weakest, falling by2.15%. Over the last month, the Energy sector is down by12.62%, led lower by Energy Equipment & Services and Oil, Gas & Consumable Fuels industries, which are off 16.74% and 12.07%respectively.
CERRFINANCE - It looks like volatility will definitely be around in the beginning of next year. It might be best to pause and see what happens either geopolitical or industrial. Everyone is pulling out of metals and oil. Home prices are rising and becoming scarce. Next year will be exciting and gaining new profits will be a challenge.
Wednesday, December 10, 2014
(Market Watch) Shale oil: It's impossible to talk about oil’s plunge without talking about the supply glut. And it’s impossible to talk about the supply glut without talking about U.S. shale. Persistently high oil prices helped to spur the fracking revolution, which in turn triggered a boom for North Dakota and other shale-oil-rich regions. Falling prices will weigh on production of oil from shale and other resources as energy firms cut back on projects, but investors are debating exactly how sensitive shale production will prove to be.