OPEC Packing It In?

While we were wrong in expecting a 500K cut yesterday as OPEC met to address plunging oil prices and a supply glut that is overwhelming lackluster ( but not negative) demand growth. What we were not wrong in expecting that OPEC would sound coordinated at least on the surface and ready to address the supply issues outside and inside of OPEC.  

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Emerging Money Audio Call Preview June 5

Emerging Money Audio Call Preview June 5th – ECB, Draghi delivering impact for emerging markets (EEM, quote) for sure, the stress that was created by EU Banks pulling money out of emerging markets and lending something that I think this is some relief as a bleed through on this morning’s news and ultimately putting central-bank stimulus back into the mix.

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Crude Oil Update

 WTI Crude Oil (USO, quote) spot price ticks slightly lower this morning as commodity traders have to wait an additional day for the department of energy’s inventory report. Traders will be watching closely the American Petroleum Institute (API) Weekly Crude Stock report scheduled for today after the close.

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