Title : The Market And Energy Page, T+346 -- January 3, 2018
link : The Market And Energy Page, T+346 -- January 3, 2018
The Market And Energy Page, T+346 -- January 3, 2018
Top story going into the weekend: energy issues on the US east coast due to huge winter storm. See this post and see update below on this page. The US east coast, with temperatures hitting zero degrees, may have power/electric grid issues. North Dakota, with lowest global temperatures this week (- 45 degrees), apparently has no energy issues.Strain: America's power grid is showing signs of strain during brutal cold -- Bloomberg. Gee, I wonder how that happened? Area of greatest concern is also where majority of CAVE dwellers seem to live.
Markets: all three major indices hit new highs.
WTI: solidly over $61 and up over 1% today.
Presidential tweets; love 'em.
US economy, another record, making American great again: manufacturing in US accelerates to cap best year since 2004 -- Bloomberg. President Trump is not mentioned in the article. That's why he needs to tweet. The mainstream media certainly isn't going to mention his economic policies actually might be working.
Auto sales surprise, remain strong: auto sales, believe to have dropped in 2017, remain strong.
The U.S. auto industry's historic growth streak may be ending, but demand for new cars and trucks remains healthy as the new year begins.
U.S. sales of new vehicles are expected to fall 2 percent to 17.1 million in 2017, according to Kelley Blue Book. That would be the first year-over-year decline since 2009, ending an unprecedented seven-year expansion.
General Motors and Ford both reported a 1 percent decline in sales last year compared with 2016. Automakers are releasing monthly and annual sales numbers Wednesday.While sales are likely to fall short of 2016's record of 17.55 million, 2017 is still expected to be the fourth-best sales year in U.S. history. Low unemployment and rising consumer confidence are expected to boost demand this year.
Auto sales -- it's all about the mix, not the absolute numbers. Financial Times reports that "vehicle sales in 2017 shaped up to be the worst year for the US auto industry since the financial crisis. But, as noted above, 2017 might be the fourth-best sales year in US history. But total sales mean less than what is selling.
Global warming: apparently the current winter storm will be at its worse starting at midnight tonight on the east coast. Thursday (tomorrow) will be bad, but Friday and Saturday will be horrendous -- and it's possible that there may be power outages -- reporting by CNBC. It will be interesting to follow ISO New England. Wind farms will shut down during the high winds.
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