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Inventories drop, oil prices kiss $70 a barrel

Inventories drop, oil prices kiss $70 a barrel

U.S. crude oil inventories fell by a surprising large 4.95 million barrels last week, the U.S. Energy Information Administration announced this morning. This took international benchmark Brent crude up as high as $70 a barrel during trading on Thursday before closing...
December jobs report delivers mild disappointment

December jobs report delivers mild disappointment

The U.S. economy added 148,000 net new jobs in December. Economists surveyed by Bloomberg had expected growth of 190,000 jobs. The Bureau of Labor Statistics also revised the November job growth to 252,000 from an initial 228,000. The official unemployment rate...
Global manufacturing continues its strong run

Global manufacturing continues its strong run

The global economy just keeps on running in high gear. For the United States, today the ISM Manufacturing Index (Institute for Supply Management) climbed to 59.7 for December, well above the 58.2 in November. (Economists surveyed by Bloomberg had expected a reading of...
Time to clear away the brush in my long-term 50 Stocks portfolio–selling four stocks out of this portfolio ahead of January rebalancing

Time to clear away the brush in my long-term 50 Stocks portfolio–selling four stocks out of this portfolio ahead of January rebalancing

In the first week of January I’m going to rebalance, per the strategy I pursue with this portfolio, my long-term 50 Stocks Portfolio. That means I’ll be taking profits in the big winners of 2017 and adding to positions in the laggards for the year ahead....
The mess that is the tax bill just keeps getting messier

The mess that is the tax bill just keeps getting messier

One expected and one surprising development as everybody digs deeper into the recently passed tax bill. The expected: Congress gave the IRS no time at all between passing the bill and the deadlines for putting its provisions to work. So it’s not at all...