Oil prices slipped after President Donald Trump tweeted criticism of OPEC, then resumed an uptrend, prompting technical analyst Walter Zimmerman to say "oil looks like it wants to explore the upside a little more." His opinion is echoed by other analysts, who doubt Trump's criticism will affect OPEC policy.
Prashant Shah, CMT, CFT, a technical analyst and an active market trader, takes the unusual course of basing strategies on Point & Figure analysis. He explains why he favors it, saying "it is a noiseless way of looking at the markets and trading it, which is where P&F fits in beautifully as it brings clarity minus the noise."
The International Monetary Fund's main advisory committee says trade tension and record-high global debt of $164 trillion threaten the strongest economic upturn since 2011. The committee says "monetary accommodation should continue where inflation remains weak and be gradually withdrawn where inflation looks set to return to central bank targets," indicating support of Federal Reserve interest-rate increases.
The White House has backed a $13 billion funding increase for the World Bank, as the US seeks to counter the growing influence of Chinese lending globally. The change follows difficult negotiations between the US and European and other officials as the US demanded tough terms.
Technical analysts Ron Meisels and Monica Rizk have examined progress of paper manufacturer Domtar and point to chart indicators that suggest a significant upturn is due. A rally that started in 2016 has corrected sharply this year, and the analysts contend this has produced a good entry point, with the stock breaking above the 40-week moving average and looking poised for further gain.
Recommendations from the Financial Stability Board to identify regulatory issues include a "risk-based approach" that seeks out "signs of a troubled corporate culture." An estimated $320 billion in fines and legal charges have accrued since the financial crisis.
Trade tensions could reduce investment as businesses experience an "erosion of confidence", says Christine Lagarde, managing director of the International Monetary Fund. More "clouds are accumulating on the horizon" of the global economy, though short-term prospects are promising, Lagarde says.
The UK should see multiple interest-rate increases in the next few years, including one this year, but probably not as soon as May, says Bank of England Governor Mark Carney. Economic data are mixed, Carney says, with unemployment at a 42-year low but inflation and retail sales disappointing.
Prospects have improved for Twitter after its stock surged and after Morgan Stanley raised its price target, technical analyst Matt Maley says. The surge brought Twitter above the 50-day moving average for the first time since early March, and while profit-taking might be in the immediate future, Maley says the stock is set for a longer-term rise.
The "Fearless Girl" statue, which stands opposite the "Charging Bull" statue in New York City, will move to a space outside the New York Stock Exchange because its location poses a safety risk, Mayor Bill de Blasio says. "Charging Bull" also might relocate, but no timeline or location has been set, the mayor's office says.