Exxon

Frontrunning: September 21

  • Bank of Japan's policy reset muddies markets' risk mood (Reuters)
  • BOJ overhauls policy focus, sets target for government bond yields (Reuters)
  • BOJ Shifts Policy Framework to Targeting Japan’s Yield Curve (BBG)
  • Fed Focus Turns to Dots as Hike Odds Fade: Decision-Day Guide (BBG)
  • Oil jumps after surprise drop in U.S. crude inventories (Reuters)

Days After Going After Trump, NY AG Probes Why Exxon Hasn't Written Down Oil Reserves

NY Attorney General Eric Schneiderman is probing why Exxon Mobil hasn’t written down the value of its assets, two years into a pronounced crash in oil prices. To be sure, it is most likely that Scheiderman is looking for another career-boosting witch hunt, which however is not to say that Exxon is blameless in this particular case.

Oil Plunges As Libya, Nigeria Supply Set To Worsen Glut

Glutter and Glutterer... Oil prices are extending their losses this morning as disappointing US economic growth indicators combined with expectations of a surge in supply from Nigeria and Libya are adding to fears about increasing overhang of oil stocks.

Visualizing The (Massive) Size Of The US National Debt

When numbers get into the billions or trillions, they start to lose context. The U.S. national debt is one of those numbers. It currently sits at $19.5 trillion, which is actually such a large number that it is truly difficult for the average person to comprehend.

Frontrunning: August 25

  • Stock futures lower as countdown to Yellen speech begins (Reuters)
  • Italy quake death toll nears 250 as rescuers search demolished towns (Reuters)
  • Central bankers eye public spending to plug $1 trillion investment gap (Reuters)
  • Chelsea Clinton Plans to Stay on Board of Family Foundation (WSJ)
  • Bond Traders Are Desperate for Direction From Yellen in Jackson Hole (BBG)

"Fab 5" US Tech Firms Now Rule Global Stocks

Since the end of QE3 (Oct 2014), the broadest measure of the US equity market (NYSE Composite) is modestly lower (-1.2%). However, 5 US stocks have soared an impressive 35% since then. In fact, as Bloomberg reports, the five biggest companies in the world by market value were all U.S. tech companies (a feat that wasn't even achieved during the exuberant peaks in the dot-com bubble in 2000).

Frontrunning: August 4

  • Bank of England cuts rates for first time since 2009, restarts bond purchases (Reuters)
  • Obama administration denies Iran cash payment was a ransom (Reuters)
  • Mike Pence Endorses Paul Ryan After Donald Trump’s Refusal (WSJ)
  • In slap at Trump, some wealthy Republicans campaign for Clinton (Reuters)
  • Clinton leads Trump by 17 points in NH (The Hill)

Amazon Is Now Bigger Than Exxon Mobil

With Exxon Mobil sliding after earnings, Amazon's market cap - for the first time ever - is now larger than the oil giant. Next stop AAPL...