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☆ Stock-market bulls are growing bolder: Now Deutsche Bank predicts the S&P 500 will hit a record 5,100 in 2024
▼ + stars: | 2023-11-28 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The benchmark S&P 500 will climb 12% to hit a new all-time high of 5,100, strategists said. Much of Wall Street has turned bullish on the index, which has defied gloomy predictions to rack up stellar gains this year. AdvertisementDeutsche Bank has become the latest big name on Wall Street to issue a bullish stock-market forecast for 2024, with analysts predicting the S&P 500 will soar to a fresh all-time high next year. AdvertisementWall Street bullishnessThere's clearly an optimistic atmosphere amongst stock-pickers right now, with Deutsche Bank far from the only big name on Wall Street to predict the S&P 500 could climb to record highs. Burnishing Chadha's credentials is the fact that he was one of the only Wall Street strategists who called this year's surprise stock-market rally.

Persons: —, Goldman Sachs, …, Binky Chadha, Tesla, Société Générale, Brian Belski, Burnishing Organizations: Deutsche Bank, Service, Bank of America, RBC Capital Markets, BMO Capital, Deutsche, Business, Big Tech, Apple, Microsoft, Google, Nvidia, Facebook, Nasdaq, Dow Jones

☆ RBC upgrades Boeing, sees improving sentiment around the stock
▼ + stars: | 2023-11-28 | 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 EmailRBC upgrades Boeing, sees improving sentiment around the stockKen Herbert, aerospace & defense analyst at RBC Capital Markets, joins 'Squawk on the Street' to discuss the main element of Herbert's bullishness on Boeing's stock, why the setup is favorable for the airplane maker, the historical perspective regarding RBC's new price target for Boeing.

Persons: Ken Herbert Organizations: RBC, Boeing, RBC Capital Markets

☆ A signal from big companies they think workers are losing control of the job market
▼ + stars: | 2023-11-28 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

Unemployment has ticked up, wage growth continues to decline, and the "quits rate" has leveled off from its pandemic surge. The CFO view of the labor market also filters through to their broader view of the economy and markets, which has changed in other considerable ways over the four quarters of surveying by CNBC this year. Almost a year later, the market has rallied on the conviction that inflation has been vanquished and the hikes are finished. But the CFO view of when inflation returns to 2% keeps getting pushed farther out into the future. That's more hawkish than the market, which currently is betting the Fed may start cutting by May.

Persons: CFOs, that's, it's, Jackson Organizations: CNBC, Stone, Nasdaq, PPI, Inflation, Walmart, Dow Jones, Dow, Fed Locations: Detroit, Hollywood, CFOs, it's

☆ ETFs that track meme stocks have been surging, as 'animal spirits' return to markets
▼ + stars: | 2023-11-21 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Meme stocks have been on the rise recently as November's market rally brings a wave of bullishness. "The upshot: the reemergence of meme stocks shows investors' animal spirits are starting to run hot again," DataTrek said. AdvertisementMEME, BOTZ, and IWO have seen gains of 10.8%, 6.6%, and 5.9%, respectively, while the S&P 500 has gained 3.1% in that stretch. AdvertisementStill, the recent outperformance for funds with exposure to meme stocks reflect "generally bullish market conditions," Colas and Rabe maintained. DataTrek also noted on Tuesday that S&P 500 sector correlations suggests the November stock rally should continue through the end of the year.

Persons: —, Nicholas Colas, Jessica Rabe, iShares Russell, DataTrek, Colas, Rabe Organizations: Service, Robotics, Treasury, IWO, GameStop, AMC

☆ A key historical indicator says the latest stock market rally is poised to push on through the end of the year
▼ + stars: | 2023-11-21 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The S&P 500's sector correlations suggest the current rally can go to year-end, DataTrek Research said. The indicator is a sign of investor confidence, and it's hovering near levels seen around bull markets of the past. AdvertisementThe stock market is in the midst of a strong November rally, and according to DataTrek Research, the gains could last through year-end thanks to a key historical trend. "When [investors] see clear skies ahead, correlations tend to be low as they pick and choose between individual sectors and stocks," Colas and Rabe said. When correlations hover above that level, stocks tend to be under pressure; when they are below, stocks tend to rally like they did in 2020-2021, and between January and July of this year.

Persons: —, Nicholas Colas, Jessica Rabe, Colas, Rabe Organizations: Research, Service

Chartbook: Oil and gas positionsAs in previous weeks, sales in the most recent week were led by crude (-16 million barrels), especially NYMEX and ICE WTI (-11 million), with some extra sales in Brent (-5 million). Funds held a larger position of 171 million barrels in Brent, but that was in only the 28th percentile, still significantly bearish. Funds purchased 9 million barrels over the seven days ending on Nov. 14 and had purchased a total of 25 million barrels since Oct. 17. The net position had doubled to 51 million barrels (46th percentile) on Nov. 14 up from 26 million barrels (19th percentile) four weeks earlier. Related columns:- U.S. gasoline stocks add to crude oil turbulence (November 17, 2023)- U.S. oil prices slide as stocks accumulate at Cushing (November 16, 2023)- Oil traders turn bearish, daring OPEC⁺ to cut again (November 14, 2023)- Oil prices slump as fundamentals reassert themselves (November 9, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Barbara Lewis Organizations: ICE, Funds, ICE WTI, Fund, Thomson, Reuters Locations: Brent, NYMEX, Saudi Arabia, Russia, bearishness, United States, Cushing

Friday's early calls include an upgrade to a restaurant software stock and a big downgrade to a solar name. The bank downgraded Unity stock to neutral from outperform, also slashing its target price to $20 from $55. Analyst Doug Anmuth's updated price target of $510 could mean that there's still 17% room for the stock to go. Analyst Jonathan Block's price target of $70 signifies a 13% upside from the stock's Thursday closing price of $62.16. Koning has a price target of $18 per share, implying upside of nearly 30% over the next 12 months.

Persons: Baird, Tim Nollen, Lisa Kailai Han, Carlo Santarelli, — Lisa Kailai Han, JPMorgan downgrades, Drew Chamberlain, Doug Anmuth's, Anmuth, NFLX, Henry Schein, Jonathan, Freyr, BTIG, Gregory Lewis, FREY, Lewis, Stephens, Joshua Long . Long, Long, Portillo's, Mgmt, Chris Dendrinos, Dendrinos, Baird Baird, David Koning, Koning, — Fred Imbert, Julien Dumoulin, Smith, Fred Imbert Organizations: CNBC, Bank of America, Macquarie, Unity, Wynn Resorts, Deutsche Bank, JPMorgan, JPMorgan downgrades Enviva, Netflix, FR, European Union, RBC Capital, FTC Solar Bank of America, FTC Solar, FTC Locations: Macquarie, Unity, UAE, Boston, Norway, Portillo's, Thursday's

☆ SoftBank has lost more than $14 billion by betting on WeWork
▼ + stars: | 2023-11-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Tech conglomerate and investor SoftBank has lost $14.4 billion so far on WeWork. SoftBank was one of WeWork's most bullish backers, predicting it would be worth $100 billion. AdvertisementAdvertisementSoftBank has lost a cumulative $14.4 billion through its disastrous bet on the now-bankrupt WeWork , per the group's July-September earnings. SoftBank overall posted a loss of $6.2 billion (¥931.1 billion) for July to September, compared a profit of $20 billion the same period last year. AdvertisementAdvertisementFuelled with conviction from SoftBank founder Masayoshi Son and billions in investment, WeWork sailed to a colossal $47 billion valuation at its peak in 2019.

Persons: SoftBank, —, Masayoshi Son, WeWork, Adam Neumann, Neumann, Son, Jack Ma, Alibaba . Son Organizations: Service, WeWork, Alibaba, Visual China, Getty Locations: Alibaba .

The wave of sales has reversed much of the 398 million barrels purchased between the end of June and the middle of September. WTI SQUEEZE ENDSIn the seven days ending on October 31, selling was led by crude (-78 million barrels), especially NYMEX and ICE WTI (-62 million barrels), with a smaller contribution from Brent (-16 million). The remaining position (153 million barrels) was the lowest for 16 weeks since July 11 (128 million barrels). Crude inventories around the NYMEX delivery point at Cushing in Oklahoma depleted to just 22 million barrels at the end of September from 43 million barrels at the end of June. But most of the sales have come in European gas oil (-49 million barrels) rather than U.S. diesel (-6 million) reflecting the poor outlook for the European economy.

Persons: Angus Mordant, Cushing, John Kemp Organizations: REUTERS, U.S, ICE, diesel, Funds, U.S . Commodity Futures Trading Commission, Thomson, Reuters Locations: Loving County , Texas, U.S, North America, Europe, China, Iran, Israel, Cushing, Oklahoma, WTI, NYMEX

An electronic board shows stock indexes at the Lujiazui financial district in Shanghai, China, March 21, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 7 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. This is their best run in a year, powered by easing financial conditions in the form of lower U.S. bond yields and a weaker dollar, and renewed faith in the U.S. economic 'soft landing' scenario. Having under-performed global and developed market benchmarks last week, Asian stocks could be set to outperform this week. Skeptical foreign investors will need more than one month of slowing imports and exports decline though.

Persons: Aly, Jamie McGeever, Goldman Sachs, Deepa Babington Organizations: REUTERS, Bank of Korea, Thomson, Reuters Locations: Shanghai, China, U.S, India, Asia, Taiwan, Philippines, Indonesia, Japan, Australia

☆ Morgan Stanley strategist Wilson says this is just a bear market rally
▼ + stars: | 2023-11-06 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Recent stock market strength may be short-lived, according to Morgan Stanley chief investment officer and U.S. equity strategist Mike Wilson. Before last week, stocks had tumbled more than 10% from their July high to an October low. "While we will keep an open mind, the move thus far looks more like a bear market rally rather than the start of a sustained upswing, particularly in light of weaker earnings revisions and macro data," Wilson said. Wilson remains cautious on corporate earnings despite a stronger-than-expected earnings season, and said that he still doesn't see market support coming from either technical or fundamental factors. "Over the past 2 months, both earnings revisions breadth and performance breadth have deteriorated significantly," Wilson said.

Persons: Morgan Stanley, Mike Wilson, Wilson, Stocks, November's bullishness, Michael Bloom Organizations: Federal Reserve, Google Locations: Treasurys

☆ How the market's forgotten stocks could lead a 'once-in-a-generation' buying opportunity
▼ + stars: | 2023-11-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

A once-in-a-generation opportunity is coming for the stock market, according to investment chief Richard Bernstein. AdvertisementAdvertisementBrace for a big investing opportunity that's about to come for stocks — and not in an area of the market investors may be expecting. That's according to Richard Bernstein, the CIO of Richard Bernstein Advisors, a $16 billion asset manager. That coming pendulum swing in market leadership is a "once-in-a-generation" buying opportunity brewing among forgotten and under-loved areas of the market, Bernstein says. Richard Bernstein Advisors"Because growth is starting to accelerate, it makes less and less sense to pay a premium for growth.

Persons: Richard Bernstein, —, Bernstein, Merrill Lynch —, RBA, Russell, Bernstein isn't Organizations: Service, Richard Bernstein Advisors, Amazon, Bank of America

☆ Analysis: November is typically the best month for stocks. So far, it’s looking promising
▼ + stars: | 2023-11-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

The S&P 500 on Thursday climbed 1.9% to log its best one-day gain since April. The S&P 500 has gained an average 6.7% from November to April since 1990, according to CFRA data. “We remain comfortable with our long-standing 3,900 year-end target for the S&P 500,” he wrote in a note on October 29. The S&P 500 closed Thursday at about 4,318. “The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” the company said in a short statement.

Persons: Jerome Powell’s, ”, George Smith, Mike Wilson, Morgan Stanley, Liam Reilly, Oliver Darcy, “, Read, Hanna Ziady, Andrew Bailey Organizations: CNN Business, Bell, New York CNN, Investors, Dow Jones, Dow, Federal, Treasury, LPL, Disney, Hulu Disney, Comcast, Bank of England, of England, ” Bank of England Locations: New York, Hulu, Israel

☆ Indian economy regains its swagger as China stumbles
▼ + stars: | 2023-11-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

New Delhi CNN —India’s economy is like an elephant. India’s economy is currently worth nearly $3.5 trillion, making it the world’s fifth largest. “India’s economy is comfortably placed to grow at an annual rate of at least 6% in the coming few years,” Barclays said. But even as India’s heft is increasing, it is far from recreating the economic miracle China unleashed decades ago. It will, no doubt — though it won’t be enough to shield the world economy should China’s economy stumble badly,” they added.

Persons: Narendra Modi, ”, Eswar Prasad, Modi, Prasad, Ludovic Marin, Mukesh Ambani’s, Gautam Adani’s, Willy Shih, Frederic Neumann, Justin Feng Organizations: New, New Delhi CNN, Economic, Cornell University, International Monetary Fund, China, Barclays, IMF, ” Barclays, Hindustan Times, Modi, bonanza, Unified, Bharat, Getty, Bank, Mukesh Ambani’s Reliance Industries, Apple, Harvard Business School, HSBC Locations: New Delhi, India, Switzerland, Davos, ”, ’, China, ” New Delhi, Sewri, Mumbai Bhushan, AFP, Beijing, Washington

Plenty of bond investors have been burned calling a bottom in a selloff that has taken Treasuries to the cusp of an unprecedented third straight year of losses. One potential near-term pitfall is Friday’s U.S. payrolls data, which could revive expectations of Fed hawkishness if they come in stronger than expected. The rise in Treasury yields has reached far beyond the bond market. The S&P 500 is down nearly 8% from its July high, as rising bond yields offer investment competition to equities while threatening to raise the cost of capital for companies. “The market is running with the idea that the Fed is done hiking, which they may or may not be,” he said.

Persons: Jerome Powell nodded, Bonds, ”, Jack McIntyre, “, ” McIntyre, Stanley Druckenmiller, Duquesne, Bond, Josh Emanuel, Powell, We've, Greg Wilensky, Janus Henderson, ” Wilensky, Noah Wise, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: Treasury, Federal, Fed, U.S . Treasury, Brandywine, Janus, Janus Henderson Investors, Allspring Global Investments, Thomson Locations: U.S, Wilshire

☆ Nike is among the most overbought stocks in the S&P 500. Here are the others
▼ + stars: | 2023-10-20 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

A stock with a 14-day RSI greater than 70 is considered to be overbought and at risk of a pullback. Here are some of the most overbought names: Sports apparel retailer Nike has a 14-day RSI of 81.89, and just under half of analysts covering the stock rate it a buy. Lockheed Martin is another one of the most overbought companies in the S & P 500. The U.S. defense contractor scored a 14-day RSI of 77.69, with a consensus price target implying 6.8% upside. Also on the oversold list is pharmaceutical company Moderna , which has a 14-day RSI reading of 15.5.

Persons: Piper Sandler, Lockheed Martin, Invesco, Jason Haas, Haas, — CNBC's Michael Bloom Organizations: Nike, Dow Jones, CNBC Pro, Insurance, Cardinal Health, Allstate, Humana, Investment, Hasbro, Wall, Bank of America, Monopoly, Moderna, Pfizer, FedEx Locations: U.S, Lowe's

☆ Bitcoin jumps as ETF hopes drive the token to $30,000
▼ + stars: | 2023-10-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The token spiked 10% briefly on Tuesday after a false report said the SEC approved BlackRock's spot bitcoin ETF. Bullishness around a the spot bitcoin ETF is high, with calls growing for the SEC to sign off on a first-ever fund. AdvertisementAdvertisementBitcoin moved above $30,000 on Friday, spiking above the closely watched threshold before paring some gains, as a week of bullishness around a spot bitcoin ETF helps push the token higher. Hopes for a spot bitcoin exchange-traded fund have helped fuel the latest rally. The SEC has already approved bitcoin futures ETFs, though regulators have turned down bitcoin spot ETF applications repeatedly in recent years.

Persons: Bitcoin, —, Mike Novogratz, Novogratz, Gary Gensler Organizations: SEC, Service, Securities and Exchange Commission, Fidelity, Galaxy Digital, House Financial Services Locations: New York, BlackRock

A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. Chevron/Handout via REUTERS/File Photo Acquire Licensing RightsSYDNEY, Oct 13 (Reuters) - Negotiations over a stalled pay and conditions deal between Chevron and unions at its liquefied natural gas (LNG) facilities in Australia made progress on Friday, but fell short of sealing an agreement to end months of labour disputes at the major export sites. Friday's talks are the second round being mediated by the FWC within the past month. The unions halted weeks of strikes in late September at the facilities that supply around 6% of the world's LNG after an earlier round of talks produced a deal. Weeks later, however, the unions accused Chevron of reneging on certain commitments and said they would resume strikes on Oct. 19.

Persons: Friday's, Weeks, Lewis Jackson, Susanna R, Alasdair Pal, Miral Organizations: Reuters, Chevron, Handout, REUTERS, Rights, Thomson Locations: Wheatstone, Western Australia, Australia, Chevron, reneging, Europe, London

Fund managers sold a total of 57 million barrels over latest two weeks after having purchased 398 million barrels over the previous 12 weeks since the end of June. Hedge funds and other money managers sold the equivalent of 3 million barrels over the week ended Oct. 3. Fund managers have sold gasoline in each of the latest three weeks by a total of 22 million barrels since Sept. 12. As a result, the net position has been cut to 48 million barrels (42nd percentile) from 71 million (77th percentile). Funds held a net long position of just 9 billion cubic feet (32nd percentile since 2010) down from a recent high of 743 billion cubic feet (48th percentile) on July 11.

Persons: Cushing, Brent, John Kemp, Bernadette Baum Organizations: REUTERS, ICE, U.S, Henry Hub, U.S . Commodity Futures Trading Commission, Funds, Thomson, Reuters Locations: Cushing , Oklahoma, U.S, Israel, Chartbook, Brent, NYMEX, Louisiana, Pacific, United States

☆ The stock market today has 'echoes' of the 1987 crash, and even a hint of a recession would be a massive blow to equities, Societe Generale says
▼ + stars: | 2023-10-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks are following the same path they did ahead of the 1987 stock crash, Societe Generale said. Investors are bullish in the face of rising bond yields, in an "echo" of late 80s sell-off. AdvertisementAdvertisementThe stock market is sending worrying signals, and any sign of recession now could spark a big sell-off, according to Societe Generale strategist Albert Edwards. But the outperformance in the face of soaring bond yields could be a warning of pain to come, if history is any guide. Meanwhile, only 32% of individual investors think the chance of a 1987-style stock market crash over the next six months is less than 10% according to Yale's US Crash Confidence Index.

Persons: Albert Edwards, —, Edwards, Dow, bullishness, Raymond James Organizations: Societe Generale, Service, Generale, Federal Reserve, Treasury, York Fed

Evan Luthra, an app developer, entrepreneur and angel investor, told CNBC he lost $2 million dollars in the collapse of FTX. Jake Thacker, an FTX customer in Portland, Oregon, told CNBC he lost hundreds of thousands of dollars shortly after losing his job in the tech industry. "I was like, oh my goodness, there's all these big name people utilizing FTX," Kannegundla said. Bhagamshi Kannegundla, an FTX customer, told CNBC he sold his bankruptcy claim to reinvest in crypto. Years later, if the FTX bankruptcy process recovers more than the 11 cents on the dollar for his claim, the buyer pockets the difference.

Persons: FTX's, hasn't, Evan Luthra, Luthra, FTX, Bitcoin, everybody's, Sam Bankman, He's, Fatih Aktas, Jake Thacker, Thacker, I'm, CNBC Thacker, Bhagamshi Kannegundla, Larry David, Kannegundla, Bhagamshi, Sunil Kavuri, Kavuri, Brett Harrison, Harrison, he's, Anthony Scaramucci, didn't Organizations: CNBC, Manhattan Federal, Anadolu Agency, Getty, Sequoia, Nurphoto, FTX's, FTX, Financial Technologies, Skybridge Locations: Miami, Manhattan, New York, United States, Portland , Oregon, FTX's, Bahamas, U.S, cryptocurrencies

☆ Health care has had a tough year. Where we stand on our 5 stocks in the sector
▼ + stars: | 2023-09-22 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +12 min

Bausch Health (BHC) is a different case. Key points Health-care stocks outperformed the broader U.S. stock market last year, but this year it's been much-tougher sledding for the sector due to a variety of headwinds. We feel comfortable owning our three other primary health care stocks: GE Healthcare, Humana and Danaher. In recent weeks, analysts at Wells Fargo and Citigroup have started coverage of GE Healthcare with buy ratings. The analysts at Jefferies now rate Bausch Health stock a buy, with a price target increase to $16 per share from $9.

Persons: There's Eli Lilly, Eli Lilly, That's, Eli Lilly's, Ryan Issakainen, we're, Issakainen, –, Stryker, Jim Cramer, it's, Jim, We've, Bausch, BHC, We're, I'm, Jefferies, Jim Cramer's, Frederick Florin Organizations: GE Healthcare, Health, Federal Reserve, First Trust Advisors, Humana, Medicare, Dow, UnitedHealth, GE, General Electric, —, Citigroup, Jefferies, CNBC, AFP, Getty Locations: what's, China, STE, Biogen, Wells, Bausch, Fegersheim, France

☆ Higher for longer interest rates won't derail the tech sector, Wedbush says
▼ + stars: | 2023-09-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Technology stocks can navigate a period of higher for longer interest rates, according to Wedbush. Wedbush says it's eyeing the "biggest tech revolution we have seen in 30 years" on the horizon. While Ives argument that tech stocks can perform well in the face of elevated interest rates might sound counterintuitive after the 2022 bear market, history suggests that it's more than possible. AdvertisementAdvertisementInterest rates and technology stocks were negatively correlated throughout all of 2022, as interest rates rose and tech stocks fell sharply. Technology stocks and interest rates were also positively correlated in the second half of 2020 and throughout most of 2021.

Persons: Wedbush, it's, Dan Ives, Ives Organizations: Service, The Federal, Federal, Nvidia, Microsoft, Adobe, Nasdaq Locations: Wall, Silicon

☆ Oil bullishness comes from a supply and demand mismatch due to cuts, says Requisite's Bryn Talkington
▼ + stars: | 2023-09-18 | 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 bullishness comes from a supply and demand mismatch due to cuts, says Requisite's Bryn TalkingtonBryn Talkington, managing partner at Requisite Capital Management, joins the investment committee on 'Halftime Report' to discuss a technical read of the oil market, a mismatch in oil supply and demand levels, and incongruencies in the oil energies market.

Persons: Requisite's Bryn, Bryn Talkington Organizations: Capital Management

Hedge funds and other money managers purchased the equivalent of 41 million barrels in the six most important petroleum futures and options contracts over the seven days ending on Sept. 12. The net position in all products had fallen to 155 million barrels (71st percentile) on Sept. 12 down from 177 million (80th percentile) on Aug. 15. Short positions in NYMEX WTI slumped to just 21 million barrels on Sept. 12, the lowest for more than a year since June 2022. U.S. NATURAL GASInvestors remain ambivalent about the outlook for U.S. gas prices – torn between depleting inventories and the prospect of a warmer-than-average winter driven by a strong El Niño. The prospect of reduced consumption and slower export growth is weighing on gas prices and has kept them range bound for the last three months.

Persons: Richard Carson, bullishness, NYMEX WTI, Investors, John Kemp, David Evans Organizations: Department of Energy, Strategic Petroleum Reserve, REUTERS, ICE, U.S . diesel, Fund, distillates, Thomson, Reuters Locations: Freeport , Texas, U.S, Saudi Arabia, Europe, China, distillates, Saudi, Cushing, Oklahoma, NYMEX, distillates ., East Asia, North America, Pacific

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