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Search resuls for: "CIBC Private Wealth"


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☆ Oil prices gain by tight supply; other risk assets swoon on Fed rate hike
  + stars: | 2022-11-02 | by ( David Gaffen | Thomson Reuters | David Gaffen Oversees A Team Writing | ) www.reuters.com   time to read: +3 min
The market was supported by another decline in U.S. oil inventories as refineries picked up activity ahead of the winter heating season. The oil market held its rally even as stocks fell and the dollar rallied after Federal Reserve Chair Jerome Powell said it was premature to think about pausing rate increases. U.S. crude oil stocks fell about 3.1 million barrels on the week, according to federal data. Gasoline inventories while distillate stocks rose only marginally ahead of the key heating season, when demand is expected to pick up. The ban, a reaction to Russia's invasion of Ukraine, will be followed by a halt on oil product imports in February.
☆ Stock futures rise after notching their best week since June
  + stars: | 2022-10-23 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +1 min
U.S. stock futures rose Sunday evening after all three major averages notched their best week since June at Friday's close. S&P 500 futures and Nasdaq 100 futures increased 0.88% and 1.00%, respectively. The moves come after yet another volatile week for stocks as third-quarter earnings season heats up. The S&P 500 and Dow gained 4.7% and 4.9%, respectively, while the Nasdaq rose 5.2%. There are more big earnings reports on deck in the coming week, including tech giants such as Apple , Alphabet , Amazon and Microsoft .
☆ Shale firms discount 'U.S. put' as inadequate to lift oil output
  + stars: | 2022-10-22 | by ( Arathy Somasekhar Stephanie Kelly | Arathy Somasekhar | Stephanie Kelly | ) www.reuters.com   time to read: +2 min
"That announcement was making it appear like he was throwing a bone to the oil industry," said Tricia Curtis, CEO of consultancy PetroNerds, who dismissed the offer. Register now for FREE unlimited access to Reuters.com Register"What if oil does not fall to that price: Do we just keep our reserves low?" U.S. oil prices hit $120 per barrel this year and did not trigger a production boom because of shortages and high costs for labor and equipment, said Hunter Kornfeind, oil market analyst at Rapidan Energy Group. Rebecca Babin, senior energy trader at CIBC Private Wealth, said tight oil supplies have pushed up price expectations into 2024. If the Biden administration wants to boost oil supplies, it "should change its policies around producing more oil and gas in the United States," said Frank Macchiarola, a senior vice president at trade group American Petroleum Institute.
☆ Oil markets are facing a demand concern, says CIBC's Rebecca Babin
  + stars: | 2022-10-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil markets are facing a demand concern, says CIBC's Rebecca BabinRob Thummel, Tortoise portfolio manager, and Rebecca Babin, CIBC Private Wealth senior energy trader, join CNBC's 'Squawk Box' to break down where investors can find opportunities in the energy sector.
☆ September job gains affirm that the Fed has a long way to go in inflation fight
  + stars: | 2022-10-07 | by ( Jeff Cox | ) www.cnbc.com   time to read: +7 min
But a surprising drop in the unemployment rate and another boost in worker wages sent a clear message to markets that more giant interest rate hikes are on the way. Everybody who seems to want a job is getting a job," said Ron Hetrick, senior economist at labor force data provider Lightcast. "But we've been getting into a situation where our low unemployment rate has absolutely been a significant driver of our inflation." A series of central bank rate increases has been aimed at reducing demand and thus loosening up a labor market where there are still 1.7 open jobs for every available worker. It all makes the inflation fight look ongoing, even with a slowdown in payroll growth.
☆ Oil prices jump after U.S. crude, fuel stocks drop, dollar weakens
  + stars: | 2022-09-28 | by ( David Gaffen | Thomson Reuters | David Gaffen Oversees A Team Writing | ) www.reuters.com   time to read: +2 min
Brent crude futures settled up $3.05, or 3.5%, at $89.32 per barrel. U.S. West Texas Intermediate (WTI) crude futures ended up $3.65, or 4.7%, to $82.15 a barrel. The dollar hit a fresh two-decade peak against a basket of currencies on Wednesday before pulling back. A strong dollar reduces demand for oil by making it more expensive for buyers using other currencies. "All raw material dominated currencies are up - crude is not just moving in isolation here."
☆ Crude oil bulls have 'lost their will to fight,' says CIBC senior energy trader
  + stars: | 2022-09-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrude oil bulls have 'lost their will to fight,' says CIBC senior energy traderRebecca Babin, senior energy trader at CIBC Private Wealth U.S., joins CNBC's 'Squawk Box' to explain why she believes crude oil's break below $80 a barrel feels like the "stage of death" in a bullfight.
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