3Dollars: January 9, 2017


Today the markets continued their retreat from record highs, partially because of news that U.S. oil producers stepped up drilling recently. The expected increase in supply is putting downward pressure on oil prices (though they recovered midday), a problematic factor for all of the OPEC countries and some of the riskier U.S. producers. There are several key macroeconomic data points coming out later this week from China (twice), Germany, and Japan which will help tell the story of economic trends globally; analysts are keeping a close eye out for those. Quiet days like these where money is likely transferring from “dumb” money to “smart” money is an opportunity to take a breather, prune your watch list, and enjoy simply surviving this Monday.

-Joe

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