Don’s Notebook April 25, 2018
Oil inventories have been back on the rise and more increases in today’s data could set up price upturns in barrel prices.
- The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. This report is due at 10:30 ET.
Overnight:
- The Asia Pacific Index lost 0.5 percent.
- Japan’s Topix index closed 0.1 percent lower amid concerns the global growth environment may be deteriorating.
- In Europe, the Stoxx 600 Index was down 0.9 percent by 5:40 a.m. amid disappointing earnings and drops in commodity-linked shares.
- S&P 500 futures pointed to further losses at the open.
- Gold prices were lower.
It’s a very busy day in Q1 earnings announcements:
- eBay Inc., Comcast, Advanced Micro Devices Inc., Legg Mason, Chipotle Mexican Grill, Visa Inc., PayPal Holdings Inc. and Ford Motor Co. are among the many companies due to report.
- Boeing announced this morning in the pre-market hours and said it has beats on earnings and raises its full-year forecast
- The world’s largest aircraft company said its core earnings, which exclude some pension costs, were $3.64 per share in the quarter, compared with $2.17 per share, a year earlier. Total revenue rose 6.5 percent to $23.38 billion. Boeing rose more than 2 percent in premarket trading.
