March 19th, 2015

Daily Market Commentary



  • The EIA Natura Gas Storage change was reported at -45B.
  • Initial Jobless claims in the U.S. were reported at 291K, slightly below estimates of 292.
  • Continuing Jobless Claims were reported at 2.417M, slightly above estimates.


  • Oil resumed its slump after rallying from the lowest price in six years as focus returned to record supply in the U.S., the world’s biggest consumer.
  • Gold extended a rebound from the lowest price in three months after US economic growth seen as “moderated somewhat” and inflation has declined further below where officials would like it to be, the central bank said March 18.


  • Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer by market value, said changes in provincial tax rules will cut the company’s 2015 pre-tax profit by as much as C$100 million ($78 million).
  • Cheaper North American oil is poised to replace West African and Middle East cargoes at eastern Canadian refineries with U.S. crude prices at the lowest level compared with the international benchmark in 14 months.

United States

  • U.S. stock-index futures were little changed, after equities rallied amid speculation the Federal Reserve won’t hasten an interest-rate increase.
  • Boeing Co.’s suppliers on its $51 billion KC-46 tanker program have fallen behind in designing and manufacturing the aircraft’s aerial refuelling systems, according to congressional auditors.
  • Lennar Corp., the second-largest U.S. homebuilder by revenue, reported fiscal first-quarter earnings that beat estimates as the year’s busiest buying period gets under way.
  • Citigroup Inc. shareholders will vote next month on whether to defer a chunk of top executives’ pay for 10 years, using the money to cover fines if the bank breaks laws.


  • European stocks climbed to their highest level since 2000 after the Federal Reserve acknowledged a moderation in economic growth. Asian stocks rose.
  • Auto Trader Group, the British website for buying and selling used cars, said on Thursday that it had priced its initial public offering, valuing the company at 2.35 billion pounds, or about $3.5 billion.
  • Siemens AG shares fell the most in seven weeks after Chief Executive Officer Joe Kaeser told investors that woes at the power business of Europe’s biggest engineering company are hurting profit and sales.
  • Hewlett-Packard Co. has narrowed the list of bidders for control of two Chinese units that could fetch more than $2.5 billion, people familiar with the matter said.

*All information is taken from Bloomberg, unless otherwise noted.