Oil Thru $70. Berkshire Dismissed Cryptos and Missed the Quarter!

[MUSIC PLAYING] Hey, good morning It's John Gillin at your morning NewsWire at Stansberry Research

We've got Monday, May 7 Global markets– they've picked up the pace where we left off on Friday A bit better this morning Germany– interesting Factory orders were weak

A lot of those economic data coming out of that country have been lousy over the last couple of months But stocks are making a five-month high I think a lot of that has to do with the euro has been weak of late, and they are the leader in exports That being said, dollar is stronger against both euro and yen this morning West Texas crude is above $70 this morning

Iran nuke deal– that either gets dealt with on the 12th of this month, the 16th– I've heard both dates The Saudis are very happy to see oil go to 80 Iran said 60 to 65 would be suitable Who cares what they think? What happened to all of our energy independence desires? Shale supposedly had an open spigot, and here we are at $70 It's called inflation, folks

Don't be naive US-China trade– that's crickets over the weekend There's a lot more to come, and China's yuan– their currency– has been weaker of late Interesting how that happens Mr

Putin was sworn in over the weekend for another six year term He got 77% of the vote I assume the other 23% went to Siberia That was a real nail-biter Tuesday, China trade data comes out

Important This week supposedly we'll get something from the NAFTA negotiations– a breakthrough Don't get on the edge of your chair Deals this morning– Nestle and Starbucks are getting together in a business deal with coffee It's interesting because there's massive amounts of money that are being transferred, but it is not one taking over the other

International Flavors IFF is buying a company– an Israeli– again, for a big number About $8 billion Blackstone is buying Gramercy Park GPT, which is a REIT Berkshire Hathaway had their Warren-palooza over the weekend, and they also reported numbers on Friday afternoon They lost money, but the stock is up a bit

They talked about their Apple position, and they talked a lot about how cryptos don't make any sense to them because they're late 80s and early 90-year-old men who have done wonderfully, but how are they going to understand cryptos? Other earnings this morning CTSH missed Taiwan Semi missed Disney over the weekend– their Avengers movie has taken in over a billion dollars at the box office Man, are we dull people

Fed speak– a lot of that this week Microsoft's developers conference Morgan Stanley's got an energy conference, and then throughout the week, you get another six to seven big conferences So everybody will be yapping There's also $73 billion in bond for the treasury refunding

Friday, what happened– optically, 39% in unemployment That looks great But you had a 4% move in Apple You had a 5% move from McDonald's, and then all the other catch-ups

Triple M, Caterpillar, Boeing, UTX, all on the Dow Then behind that was consumer names– discretionary and staples They're not leadership stocks That was short covering The bulls are going to tell you that tax cuts, stimulus, has not kicked in yet

I believe that But they think that a market that's moved higher, arguably, for the last 109 months has a lot further to go I'll take the other side of that I think it's still time to sell rips and buy oils stocks, because oil continues to trade higher, and we're still stuck in a range Anyway, everybody have a good Monday

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