AMJ (Alerian MLP Index tracking fund)
Boeing takes drastic step after string of safety scares puts company in hot seat
Crude oil futures rose as Ukraine drone strikes disrupt Russian oil refining capacity. The West Texas Intermediate contract for Apr gained 38¢ (0.5%), to $81.01 a barrel & the Brent contract for May added 37¢ (0.4%) to $85.79 a barrel. A Ukrainian drone strike caused a fire at the Kuibyshev oil refinery in the city of Samara over the weekend. Industry sources that 1 of the major refining units at the facility was knocked out after the attack. Kyiv has launched campaign of strikes against Russian energy infrastructure since the start of the year with Ukrainian intelligence claiming a dozen facilities have been successfully hit. At least 10% of Russia's refining capacity has been disrupted by the attacks, according to British intelligence. “Depending on the extend of the damage, major repairs could take considerable time and expense,” the British Ministry of Defense said in an update over the weekend.
Oil prices rise as Ukraine strikes Russian refineries
Treasury yields rose slightly as investors awaited fresh
economic data slated for this week that could provide hints about the
state of the economy. The 10-year Treasury yield was up by 2 basis points at 4.24% & the yield on the 2-year Treasury yield was last 3 basis point higher at 4.63%. Yields & prices move in opposite directions & 1 basis point equals 0.01%. Investors looked to upcoming economic data releases after the Federal
Reserve last week indicated that interest rates may be cut soon, but
noted that this would depend on how the economy develops. “We
believe that our policy rate is likely at its peak for this tightening
cycle. If the economy evolves broadly as expected, it will likely be
appropriate to begin dialing back policy restraint at some point this
year,” Fed Chair Jerome Powell said after the
central bank's latest meeting. “But the economic outlook is uncertain, and ongoing progress toward our 2% inflation objective is not assured,” he added.
Treasury yields inch higher as investors look to key data in week ahead
After the good start for stocks this year, analysts are raising forecasts for the year. But there are a lot of problems out there starting with wars, high interest rates & company problems. Already the EU is launching probes of high profile tech companies. All is not well even though popular stock averages are at new records. The stock market will close for the holiday on Fri.Dow Jones Industrials
