US NATGAS: US Army Corps of Engineers Recommends DAPL Continue
Dec-19 19:38
The US Army Corps of Engineers released an environmental impact statement regarding the Dakota Access Pipeline recommending that operations continue on grounds that safeguards come in, per Reuters
- Safeguards include groundwater monitoring, wildlife and water sampling, and deployment of leak technology.
- The 1,100-mile crude pipeline is owned by Energy Transfer and has been taken to court by Native American groups who have cited water quality issues.
- DAPL can transport 750,000 barrels of oil per day from the Bakken shale oil basin and has been operating during the review.
- The recommendation helps ET continue its operations. The next step is to grant DAPL an easement under the Mineral Leasing Act, according to Bloomberg.
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SOFR OPTIONS: Scale Seller Dec'25 SOFR Midcurve Call Spread
Nov-19 19:35
- -50,000 0QZ5 97.00/97.25 call spds, 4.25-4.0 ref 96.915
US STOCKS: Late Equities Roundup: Remain Mixed, Focus Still on Nvidia Earnings
Nov-19 19:30
- US equity indexes held inside session ranges late Wednesday, the DJIA underperforming as it looked to extend session lows. Markets still digesting the October FOMC minutes release that showed rate cut opinions "strongly differed". Participants await the release of Nvidia Q3 earnings after the close.
- Currently, the DJIA trades down down 144.48 points (-0.31%) at 45946.4, S&P E-Minis down 6.5 points (-0.1%) at 6632.75, Nasdaq up 24.7 points (0.1%) at 22456.95.
- Communication Services and Information Technology sector shares continued to lead advances in the second half, media & entertainment stocks buoyed the former: Alphabet +3.33%, TKO Group Holdings +1.92%, Take-Two Interactive Software +1.51% and Match Group +0.38%.
- Chip makers primarily supported the tech sector: ON Semiconductor +3.99%, KLA Corp +3.20%, Applied Materials +3.20%, Lam Research +2.99%, Broadcom +2.35%, Seagate Technology +1.87% and NVIDIA +1.83%
- Conversely, Energy and Consumer Staples sector shares continued to underperform, a drop in crude prices (WTI -1.30 at 59.44) weighing on oil and gas stocks: Valero Energy -2.77%, APA -2.73%, EOG Resources -2.58%, Phillips 66 -2.37% and Occidental Petroleum -2.25%.
- Meanwhile, broadline retailers weighed on the Consumer Staples sector: Archer-Daniels-Midland -5.80%, Bunge Global -3.51%, Target -2.78%, Dollar General -2.15% and Estee Lauder Cos -1.92%.
USDJPY TECHS: Clears to New Highs
Nov-19 19:30
- RES 4: 157.87 High Jan 10
- RES 3: 157.27 3.0% Upper Bollinger Band
- RES 2: 157.24 2.382 projection of the Sep 17 - 26 - Oct 1 price swing
- RES 1: 156.80 High Nov 19
- PRICE: 156.79 @ 17:25 GMT Nov 19
- SUP 1: 153.68 20-day EMA
- SUP 2: 152.82 Low Nov 7
- SUP 3: 151.74 50-day EMA
- SUP 4: 150.47 Low Oct 21
USDJPY rallied again Wednesday, topping several resistance levels to extend the bull run. This also confirms once again, a resumption of the uptrend. Note that moving average studies remain in a bull-mode position, highlighting a dominant uptrend. Sights are on 157.24 next, a Fibonacci projection. Support to watch is 153.68, the 20-day EMA. A clear breach of the average is required to signal scope for a corrective pullback.
