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Thursday, February 11, 2016

Oil Is the Cheap Date From Hell - Bloomberg Business

Oil Is the Cheap Date From Hell - Bloomberg Business: It’s scary out there. The rout in the stock market that began around Jan. 1 took a turn for the worse early this month. By Feb. 10 the Standard & Poor’s 500-stock index was down 9 percent for the year. That’s its worst start since the recession year of 2008. Falling oil prices were blamed: A meeting between Saudis and Venezuelans aimed at curbing production had ended inconclusively. West Texas Intermediate fell again below $28 a barrel—more than 70 percent off its 2014 high. Trigger-happy investors have gotten accustomed to selling stocks whenever oil dips. With oil in serious oversupply, it’s hard to sustain any kind of recovery on Wall Street. “The toughest problem for people to deal with is oil getting linked with the market,” says Tobias Levkovich, Citigroup’s chief U.S. equity strategist.

Stocks set to plunge: Dow futures down almost 300, oil below $27 | America's Markets

Stocks set to plunge: Dow futures down almost 300, oil below $27 | America's Markets

Global stock selloff; Twitter growth stalls; Tesla optimism - Yahoo Finance

Global stock selloff; Twitter growth stalls; Tesla optimism - Yahoo Finance

Wake Up Call Allendale Advisory Center

Wake Up Call Allendale Advisory Center: Grain markets are mostly steady to slightly higher ahead of export sales data. Outside markets slide as US economy concerns drives traders risk off attitude. The stock indices are sharply lower while crude oil drops to near $26.00 per barrel.

Drew Lerner from World Weather Inc. says “the jury is still out in regard to whether La Nina will influence world weather in 2016 or not. World Weather, Inc. is becoming more confident that there will be no La Nina during the growing season in 2016 and if that proves correct other prevailing weather patterns will rule North America and other areas around the world.”

Farmer sales are slow and some grain merchants are unwilling to increase bids to entice movement. Margins for crushing soybeans and processing corn are under pressure. Merchants are also expecting farmers to move grain soon as they will need to raise cash to cover input cost for planting this year’s crops.