Blogs

A little bit of something for everyone  The earnings calendar kicks into a higher gear next week with a hodgepodge of company announcements in varied industries.  Netflix, which is down today but is a positive performer this year, will announce on Tuesday.  Amazon, another winner this year, will announce on Thursday.&

Another huge drop Rigs are in freefall. People are talking about a drop to 11 million US barrels per day from almost 13 mbpd. It could be much deeper. Weekly oil rig changes in key shale basins:

Bonds also not sending positive signals US stocks are higher today and up on the week but the FX and bond market isn't sending the same signal. US 5-year note yields matched the March low this week at just 0.32%. In FX, the weekly leaderboard looks like this:

The latest data from Italy The number of new cases declined even with a record number of tests yesterday. See here for global coronavirus case data

The daily coronavirus numbers from New York It's clear that New York state has crested but how quickly it declines is another question, and what happens when they reopen is another.

Closing changes for the main European bourses: On the week: See here for global coronavirus case data

Big jump in mortalities The 20% jump in moralities is worrisome. Deaths have nearly doubled since April 13. In other Canada news, the Toronto Star reports today that Finance Minister Bill Morneau will roll out loan guarantees for the oil and gas industry today around midday. See here for global coronavirus case data

Charlie Munger spoke to the Wall Street Journal The world is awaiting word from Warren Buffett about what Berkshire Hathaway is doing. A buying signal from the world's greatest investor would go a long ways.

Shares rise 10% There is a lot of talk out there about the leak of the Gilead trial, in particular since it came one day before today's options expiry. Some of it is .

Heavy retail interest in oil is messing with the market I've been about this. warning The OPEC-driven interest in oil markets sparked a wave of speculation and now it's becoming clear what's happened.