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Bank of America predicted the Fed will cut interest rates in the middle of 2024. Still, Fed Chair Jerome Powell said the central bank is not considering rate cuts right now. As Insider previously reported, the point at which experts predict interest rate cuts are coming in the US vary. When it comes to the Federal Reserve itself, it doesn't think interest rate cuts should be top of Americans' minds right now. Fed Chair Jerome Powell said during the November press conference following the central bank's announcement to continue its pause on rate hikes that he's "not talking about rate cuts."
Persons: Jerome Powell, , Candace Browning, Michael Gapen, Powell Organizations: of America, Service, Bank of America, BofA Global Research, UBS, Fed, Vanguard, Federal Reserve
Learn moreCyber Monday deals are still going strong as evidenced by the amazing mattress deals we've been monitoring all weekend long. The 5 best mattress Cyber Monday deals todayLeesa Sapira Hybrid Mattress (Queen) $1,699.00 $1,999.00 Save 15% The Leesa Sapira Hybrid Mattress has great edge support and motion isolation. Casper Nova Hybrid Mattress (Queen) $1,871.25 $2,495.00 Save 25% The Casper Nova Hybrid mattress is our top pick for side sleepers and those who like a soft mattress. Best Cyber Monday mattress deals for back sleepersBack sleepers generally don't want their mattress to sink in too much. Browse more mattress deals at Casper | Leesa | Tempur-Pedic | BearMattress Cyber Monday FAQsWhat mattress brands are the best?
Persons: I've, you'll, Casper, Leesa Organizations: Pedic, Casper, Leesa Locations: Leesa, Saatva
Shortly after the opening bell, we will sell 175 shares of Alphabet (GOOGL) at roughly $136.28. Following the trade, Jim Cramer's Charitable Trust will own 700 shares of GOOGL, decreasing its weighting to 3.30% from 4.09%. We are starting the week by raising cash as the market is the most overbought we've seen in a long time. Any reading of 4% or more means the market is technically overbought (a reading of less than minus 4% means oversold). With this sale, we will realize a fantastic gain of about 360% on Alphabet stock purchased in July 2014.
Persons: Jim Cramer's, we've, We've, Jim Cramer, Jim, Brendan Mcdermid Organizations: CNBC, Traders, New York Stock Exchange Locations: New York City, U.S
Deutsche Bank expects the S & P 500 could climb more than 11% to a record next year — and said its base case seems "conservative." The investment bank set its 2024 year-end S & P 500 target at 5,100, or more than 11% above where the broader index closed Friday at 4,559.34. In its bull case, Deutsche Bank expects the S & P 500 could even climb to 5,500, or more than 20% above where the benchmark closed last. "We note that the S & P 500 has been in a clear trend up channel since the [Great Financial Crisis]. Goldman Sachs' David Kostin expects the S & P 500 will chop around and finally end next year at 4,700 .
Persons: , Jim Reid, Reid, America's Savita Subramanian, Lori Calvasina, Goldman Sachs, David Kostin Organizations: Deutsche Bank, Bank, America's Locations: London, financials
Learn moreLooking for help on how to watch the Abu Dhabi F1 live stream for free? For anyone outside the free live stream countries listed below, geo-restrictions will block you from watching online unless you use a VPN to unlock them. Where to Watch a free Abu Dhabi F1 live streamThis weekend's simplest option for a free F1 live stream is using a VPN to tune into one of the free European streams mentioned above. Turn it on and set it to a country with a free live stream. Sling TV Subscription Sling is one of the most affordable live TV streaming services around.
Persons: we've, Alonso, Sainz, Leclerc, Russell aren't, We've, ExpressVPN, you'll, it's Organizations: Abu Dhabi, Abu, BBC, RTL, AWST, US ESPN, ESPN, Pro Locations: Abu Dhabi, Orf1, Austria, Belgium, Luxembourg, TV's
Austin Zeng is a freelancer who splits his time evenly between Singapore and Tokyo. He calls himself a "shuttler," and thinks it has clear benefits compared to being a digital nomad. I'm not a digital nomad, I'm a shuttler. While digital nomads jump from place to place to place, I spend my time shuttling between just two cities: Singapore and Tokyo. Unlike me, a digital nomad would be unlikely to stay in Japan during the dead of winter.
Persons: Austin Zeng, it's, , I'm, Tokyo Austin Zeng, Shinjuku Austin Zeng I'm, It's, Zeng, FOMO Austin Zeng, Austin Zeng FOMO, I've, you'll Organizations: Service, Asahi Locations: Singapore, Tokyo, Shinjuku Austin, Japan, Shinjuku, , It's, Airbnbs, I'm
Bayer CEO Bill Anderson is contending with his predecessor’s disastrous Monsanto acquisition and the need to re-energize Bayer’s drug pipeline. Photo: Krisztian Bocsi/Bloomberg NewsBERLIN— Bayer Chief Executive Bill Anderson said the company would bounce back quickly from a recent spate of bad news, and warned that a breakup of the pharmaceutical and agricultural company was no universal cure for its ailments. A stream of negative news has rekindled calls from investors for Bayer to unlock value by spinning off its units into separate businesses. But in an interview with The Wall Street Journal this week, Anderson said the company couldn’t be distracted from the tough restructuring to fix the businesses.
Persons: Bill Anderson, Krisztian Bocsi, Anderson Organizations: Bloomberg, BERLIN — Bayer, Bayer, Wall
We've tested nearly every Leesa mattress firsthand (see our Leesa mattress guide for more details) and we love the Leesa Sapira Hybrid — so much so that we named it the top pick in our guide to the best mattresses. Read our full Leesa Sapira Hybrid Mattress review for more on what we love about this mattress. The best Cyber Monday deals from LeesaLeesa Sapira Hybrid Mattress (Queen) $1,699.00 $1,999.00 Save 15% The Leesa Sapira Hybrid Mattress has great edge support and motion isolation. Leesa Sapira Chill Hybrid Mattress (Queen) $1,799.00 $2,159.00 Save 17% The Leesa Sapira Chill Hybrid is an update to our favorite mattress, the Leesa Sapira Hybrid. Leesa Cyber Monday FAQsWhen will the Leesa Cyber Monday sale end?
Persons: Leesa, You'll, you'll, I've, I'm Organizations: Leesa
These stocks are overbought and could be due for a pullback
  + stars: | 2023-11-24 | by ( Brian Evans | ) www.cnbc.com   time to read: +2 min
CNBC screened FactSet data to find the most overbought and oversold stocks, based on the relative strength index (RSI). A 14-day RSI reading below 30 indicates a stock is oversold and may present a buying opportunity. A reading above 70 suggests that a stock is overbought and could point to an impending pullback. Telecommunications firm Motorola is also overbought, with its 14-day RSI reading of 94.77. Other overbought stocks on the list include credit reporting agency Equifax and financial services company Nasdaq Inc .
Persons: FactSet, Fred Imbert Organizations: Investors, Reserve, Mastercard, Norfolk, CNBC, FactSet, Revenue, Telecommunications, Motorola, Nasdaq Inc, ConocoPhillips, Cigna, UBS
Oil Slips; Property Rally Boosts China Stocks
  + stars: | 2023-11-23 | by ( Chelsey Dulaney | ) www.wsj.com   time to read: 1 min
U.S. stock markets were closed for the Thanksgiving holiday on Thursday and action in most global markets was muted. Photo: Spencer Platt/Getty ImagesOil prices came under fresh pressure Thursday, after recent signs of discord among leading energy producers, while growing optimism about support for property developers helped lift stocks in Hong Kong and mainland China. With the U.S. closed for the Thanksgiving holiday, action in most global markets was muted. Futures tied to major indexes edged higher, suggesting U.S. markets could be due a small bounce when they reopen for the shortened Black Friday session.
Persons: Spencer Platt Organizations: Getty, U.S Locations: Hong Kong, China
Stocks maintain November reign, oil hit by OPEC doubts
  + stars: | 2023-11-23 | by ( Marc Jones | ) www.reuters.com   time to read: +5 min
Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. Wall Street's benchmark S&P 500 (.SPX) is nearing a fresh high for 2023, with the S&P 500 and MSCI's all-country world index (.MIWD00000PUS) both up more than 8% this month alone. For MSCI world that is the best showing since November 2020 when markets got a major shot in the arm from COVID vaccine hopes. Germany's 10-year bund , the benchmark for the Europe, was fractionally higher on the day at 2.57% having touched 3% last month. Bitcoin fell by 0.77% on Thursday to $37,337 after it rose nearly 5% on Wednesday.
Persons: Tyrone Siu, Geert Wilders, Robert Alster, Viktor Orban, Wilders, Mark Rutte, Sterling, Jeremy Hunt, Changpeng Zhao, Marc Jones, Christina Fincher Organizations: REUTERS, PMI, ECB, Oil, Traders, Asset Management, European Union, Freedom Party, Labour, Green, People's Party for Freedom and Democracy, European, HK, Reuters, Treasury, UK Finance, OPEC, Thomson Locations: Exchange, Hong Kong, China, Europe, U.S, EU, Germany, Holland, Ukraine, Turkey, Asia, Pacific, Japan, Brent, Bitcoin
Stocks maintain November reign, oil nagged by OPEC doubts
  + stars: | 2023-11-23 | by ( Marc Jones | ) www.reuters.com   time to read: +5 min
[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 22, 2023. Traders were getting their moves in despite the annual U.S. Thanksgiving holiday scything volumes but there was plenty to keep them busy while they did it. Wall Street's benchmark S&P 500 (.SPX) is nearing a fresh high for 2023 and both it and MSCI's all-country world index (.MIWD00000PUS) are both up more than 8% this month alone. For the MSCI world index, that is the best showing since November 2020 when COVID-19 vaccine hopes were driving markets wild. Reporting by Marc Jones; Editing by Christina Fincher and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Persons: Geert Wilders, Robert Alster, Viktor Orban, Wilders, Mark Rutte, Tayyip Erdogan, Sterling, Jeremy Hunt, Changpeng Zhao, Marc Jones, Christina Fincher, Jonathan Oatis Organizations: REUTERS, Staff, PMI, ECB, Oil, OPEC, Traders, Asset Management, Freedom Party, Labour, Green, People's Party for Freedom and Democracy, European, U.S, HK, Reuters, Europe, Thomson Locations: Frankfurt, Germany, Europe, U.S, European, France, Holland, Ukraine, Asia, Pacific, Japan, COVID, Brent, Bitcoin
Pro Picks is a weekly column where AP Pro Football Writer Rob Maaddi shares his picks for upcoming games. Political Cartoons View All 1265 ImagesJared Goff bounced back from three picks to lead Detroit to a comeback win over Chicago last week. Jordan Love rallied the Packers to a comeback win last week over the Chargers. COWBOYS, 31-16SAN FRANCISCO at SEATTLELine: 49ers minus 7The 49ers (7-3) are healthy and back to playing at a championship caliber. VIKINGS, 24-21Last week: Straight up: 8-6.
Persons: Rob Maaddi, Jared Goff, Jordan Love, FanDuel, Kenny Pickett, Jake Browning, Joe Burrow, it’ll, Josh Allen, Geno Smith, Tua, Aaron Rodgers, Tim Boyle, Zach Wilson, Mac Jones, Bailey, Tommy DeVito, QB C.J ., DeMeco Ryans, Desmond Ridder, Derek Carr, Winston, Bryce Young, Carolina’s, Shaquille Leonard, Patrick Mahomes, They’ve, Aidan O’Connell’s, Kyler Murray, QB Dorian Thompson, Robinson, Myles Garrett, Russell Wilson, Mark Andrews, Justin Herbert can’t, Joshua Dobbs, Justin Field, ___ Organizations: AP Pro Football, Detroit Lions, Lions, Green Bay Packers, NFC, Chicago, Packers, Chargers, The Packers, Dallas, Washington, San, Seattle, LIONS, PITTSBURGH, CINCINNATI Line, Steelers, Bengals, BEST BET, STEELERS, BUFFALO, PHILADELPHIA, Eagles, Super Bowl, Kansas City, Chiefs, 49ers, Bills, WASHINGTON, DALLAS Line, Cowboys, Philadelphia, Giants . COWBOYS, FRANCISCO, SEATTLE Line, Seahawks, Rams, 49ERS, MIAMI, NEW YORK JETS Line, Dolphins, Jets, DOLPHINS, NEW YORK, Line, Patriots, Giants, PATRIOTS, JACKSONVILLE, HOUSTON Line, AFC South, Jaguars, Texans, JAGUARS, ORLEANS, ATLANTA Line, Falcons, New Orleans . FALCONS, Panthers, Titans, Tennessee, Chicago . TITANS, TAMPA BAY, Pro, Buccaneers, BUCCANEERS, LAS VEGAS, Raiders, CHIEFS, ANGELES RAMS, ARIZONA, Cardinals, RAMS, CLEVELAND, DENVER Line, Broncos, Browns, BRONCOS, LOS ANGELES CHARGERS, Ravens, underachieving Chargers, RAVENS, MINNESOTA, Vikings, Bears, Detroit, VIKINGS Locations: Minnesota, Detroit, San Francisco, Washington, New York, QB C.J . Stroud, New, CAROLINA, TENNESSEE, Chicago, TAMPA, INDIANAPOLIS, KANSAS, BALTIMORE, CHICAGO
Dollar hovers near 2-1/2-month lows, easing pressure on yen
  + stars: | 2023-11-22 | by ( ) www.cnbc.com   time to read: +3 min
The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The dollar index held around 2-1/2-month lows after minutes of the Federal Reserve's last meeting did little to dislodge market expectations that its monetary tightening cycle was over. Treasury yields slipped again overnight to hover around 4.40%, easing further pressure on the yen. The Japanese yen advanced around 0.1% versus the greenback to 148.28, clinging to recent gains after ticking up slightly from as low as 147.155 overnight. While speculation that the Bank of Japan could exit from negative interest rates early next year should help stabilize the yen, the Japanese currency still faces strong headwinds.
Persons: Matt Simpson, CME's, Sterling, Simpson, Tony Sycamore Organizations: U.S, Index, Treasury, Bank of Japan, IG Locations: Yichang, Hubei province, U.S
Fasten your mining helmet and plunge 152 meters (498 feet) below ground into a disused cavern at Llechwedd slate mine, home of the world’s deepest underground mini-golf course. Run by outdoor adventure activity company Zip World, the quarry has transformed into a thrill-seeker’s paradise. Opened in July 2022, it’s not the world’s only below-ground golf experience, but it is comfortably the deepest. Diving closer to Llechwedd’s record is the Turda Salt Mine in Romania, which stages a six-hole mini-golf venue 120 meters (394 feet) into the Transylvanian soil. Zip WorldBounce BelowBut the Llechwedd mines offer more than just mini-golf.
Persons: it’s, Trampolining, tightropes Organizations: CNN, Welsh, Caernarfon Creameries Locations: North Wales, Illinois, Romania, St Paul’s Cathedral
Morning Bid: Catching breath as Nvidia update due
  + stars: | 2023-11-21 | by ( ) www.reuters.com   time to read: +5 min
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. The dollar (.DXY) continued to fall, however, with its DXY index down for the fourth day to its lowest since August. Dollar losses were broad based, but China's yuan appeared to lead the way to its strongest level since July 27. In Europe, sterling pushed higher ahead of expected tax cuts at Wednesday's budget speech from UK finance minister Jeremy Hunt. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Brendan McDermid, Mike Dolan, Sam Altman, OpenAI, hoover, LSEG, Jeremy Hunt, Siena, Christine Lagarde, Isabel Schnabel, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Microsoft, Tech, Nvidia, St, Wall, Treasury, Reserve, Bank of, Monday, Philadelphia Federal, European Central Bank, ECB, Lowes, Autodesk, Devices, Jacobs Solutions Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Bank of China, China, St, Europe, Britain, Italy, Chicago, Canada
'A gigantic bounce back'Admission prices for sporting events jumped 25.1% in October 2023 from the same month a year prior, according to the Bureau of Labor Statistics' consumer price index data. There's also an alignment of attention-grabbing sporting events taking place this fall. Sports ticket prices were 14.2% higher in October than in November 2019, a smaller gain than the entire index's 19.6% increase, a CNBC analysis of CPI data shows. "We're seeing a gigantic bounce back in prices," Matheson said. StubHub said ticket prices across the top 10 sporting events were 15% higher in 2022 than they were in 2023.
Persons: John Brown, Bryan M, Bennett, Dan Hornberger, That's, Victor Matheson, Matheson, There's, Lionel Messi's, Taylor Swift, StubHub, Rodney Paul, Paul Organizations: Buffalo Bills, New England Patriots, Highmark, Getty, National Football, Philadelphia Eagles, Bureau of Labor Statistics, College of, Inter Miami, Sports, CNBC, NFL, Major League Baseball, National Hockey League, NBA, Syracuse University Locations: Orchard Park , New York, Las Vegas
Why apple prices plunged in October
  + stars: | 2023-11-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +7 min
But apple prices plunged 7.9%. A Goldilocks year for applesIn general, apple prices dip in the fall, because that’s when they’re harvested and flood the market. An apple orchard near Leavenworth, Washington state. “We have a lot of volume, but I don’t know if we’re gonna be making any money this year.”Though gas prices have fallen, apple farmers have other rising costs, including labor. To cope with rising costs and improve sustainability, many farmers have been making adjustments to how they operate, said Todd Fryhover, president of the Washington Apple Commission, which promotes the state’s apple industry.
Persons: it’s, , Chris Gerlach, ” Gerlach, , Jon DeVaney, Gerlach, Lynsee Gibbons, we’ve, Association’s DeVaney, , Craig Campbell, Campbell, DeVaney, “ I’ve, Jonathan Haines, Todd Fryhover, “ We’re, “ They’re Organizations: New, New York CNN, Bureau of Labor Statistics, US Apple Association, Gro Intelligence, Tree Fruit Association, USDA, , ” Farmers, Harmony Orchards, Washington Apple Commission Locations: New York, United States, India, Leavenworth , Washington, Washington, Turkey, Iran, Ukraine, Russia, East, South Asia, Yakima, Wenatchee
The temple and surrounding forested areas were abandoned three centuries later, when the king moved the capital of the empire away from Angkor. People started moving out in the 1990s and by 2002, the village was completely abandoned. People started moving out in the 1990s and by 2002, the village was completely abandoned. The Whanganui River holds 18 fish species including eels, freshwater crayfish and black flounders. Graham Harries/ShutterstockLocated off the Pembrokeshire coast in west Wales, stands a time capsule in the form of a long-abandoned island fort.
Persons: Prohm, King Jayavarman, Alexander Arndt, Angelina Jolie’s, “ Lara Croft, pileated gibbons, silvered, Johannes Eisele, Leo Francini, Marcio Martins, University of São Paulo, Martins, , Al Madam, Giuseppe Cacace, Yasuyoshi Chiba, James Beasley, allan wright, Kilda, Graham Harries, Shutterstock, Nicholas Mueller, , Mueller Organizations: CNN, Wildlife Alliance, ., Steam, SS, Titanic, Cyclone, University of São, Google Arts & Culture, National Institute of Ecology, Al, Getty, United Arab, Japan Earthquake, University of Georgia, TED, UNESCO Locations: CNN —, Europe, Ta Prohm, Cambodia, Angkor Thom, Khmer, Angkor, Shengshan Island, China, AFP, Houtouwan, Shengshan, Zhoushan, Mangapurua, , New Zealand, Nowhere, Mangapurua Valley, New, Whanganui, North, Australia, Grande, Brazil, Sao Paulo, Marcio, Korea, South Korea, Al Madam Village, UAE, Al, Dubai, United Arab Emirates, Sharjah, Fukushima, Japan, St Kilda, Scotland, Scotland’s, Kilda, Atlantic, Soay, Boreray, Fort, Wales, Pembrokeshire
China keeps lending benchmark rates unchanged, as expected
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: +3 min
Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. The one-year loan prime rate (LPR) was kept at 3.45% and the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. The steady fixings came after the central bank kept its medium-term interbank liquidity rate unchanged last week. The LPR, which banks normally charge their best clients, is set by 18 designated commercial banks who submit proposed rates to the central bank every month.
Persons: Tingshu Wang, Julian Evans, Pritchard, Winni Zhou, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Capital Economics, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States, outflows
Investors watch computer screens displaying stock price figures at a stock exchange hall. Jiang Sheng | Visual China Group | Getty ImagesAsia-Pacific markets were mostly set to eke out gains on Monday after most major bourses ended lower in the previous session, while investors watched for changes to China's benchmark lending rates. The People's Bank of China's one-year loan prime rate — the peg for most household and corporate loans in China — is currently at 3.45%. Futures for Hong Kong's Hang Seng index stood at 17,728, pointing to a higher open compared to the HSI's close of 17,454.19. Japan's Nikkei 225 was also set to open slightly lower, with the futures contract in Chicago at 33,500 and its counterpart in Osaka at 33,490 against the index's last close of 33,585.20.
Persons: Jiang Sheng, China —, Alibaba Organizations: Visual China, Getty, People's Bank, Nikkei Locations: Asia, Pacific, China's, China, Hong Kong, Chicago, Osaka, Australia
US chipmaker Nvidia opened its "Voyager" office last year. Jason O'Rear / Gensler San FranciscoNamed "Voyager," the building was designed by the architectural firm Gensler – and yes, it was named after a "Star Trek" starship. Jason O'Rear / Gensler San FranciscoKo said his firm's research showed collaboration was most effective when teams operated in the same spaces. Jason O'Rear / Gensler San FranciscoEngineers at Nvidia had previously been siloed in traditional workstations, while other teams were stationed on different floors and even in different buildings. Jason O'Rear / Gensler San FranciscoThe "four-acre workspace" features parks and '"treehouses" for gatherings, while shading trellis lined with solar panels blends into the building's structure.
Persons: , Jensen Huang, Huang, Jason O'Rear, Gensler –, Hao Ko, Ko, Francisco Ko, San, Santa Clara Organizations: Nvidia, Service, Harvard Business, Santa, San Francisco Engineers Locations: Santa Clara, Francisco, San Francisco
Learn moreLooking for help on how to watch the Las Vegas F1 live stream for free? Where to Watch a free Las Vegas F1 live streamThis weekend's simplest option for a free F1 live stream is using a VPN to tune into one of the free European streams mentioned above. How to watch the Las Vegas F1 live stream with a VPNSign up for a VPN if you don't have one. How to watch an F1 live stream in the USESPN carries coverage of Formula 1 racing throughout the season. Sling TV Subscription Sling is one of the most affordable live TV streaming services around.
Persons: we've, We've, ExpressVPN, it's Organizations: Las Vegas, BBC, Las, RTL, AWST, US ESPN, ESPN, Pro Locations: Vegas, Austria, Belgium, Luxembourg, TV's
Nvidia straddle A long NVDA straddle pays off when volatility increases and the price of the underlying moves by a significant amount, but it doesn't matter whether it's to the upside or the downside. The profit potential is virtually unlimited, so long as the price of the underlying security moves very sharply. Nine percent is the implied volatility going into earnings, that sets the pricing of these options. If you are long NVDA outright, you may want to consider a different and more protective approach (covered call or owning puts, etc.). DISCLOSURES: Long straddle and stock, firm long stock THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .
Persons: OpenAI chatbot ChatGPT, Nvidia's, NVDA Organizations: Securities and Exchange Commission, Nvidia
U.S. crude oil prices entered a bear market this week, down 22% from September highs as traders wrangle over whether the spiral is driven by market fundamentals or just speculation. Phil Flynn, an oil market analyst with the Price Futures Group, said hedge funds have piled into short positions. There is still some "grind lower" in prices in store unless more positive data comes out of China, he said. If prices keep falling, the U.S. will slip from record production because shale producers will have trouble making money and stop investing, he said. The group has blamed speculators for the recent selloff and insisted market fundamentals are strong with China demand healthy.
Persons: Leo Mariani, Roth MKM, Phil Flynn, John Kilduff, Flynn, Kilduff, Matt Maley, Miller, Daniel Yergin, Yergin, Brent, — CNBC's Pippa Stevens Organizations: West Texas, Brent, Price Futures, Energy Information Agency, Again, Traders, P Global, Organization of, Petroleum, UBS, OPEC Locations: China, U.S, Canada, Brazil, Guyana, East, Israel, Persian, Hormuz
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