The June quarter earnings season kicked off this week as strong quarterly results from Alcoa, CSX and Intel helped boost US equity indices and sharpen risk appetite. Earnings-driven optimism didn’t last long however, and soft quarterly results from ……
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While US crude put in for a moderate decline Friday (the third consecutive contraction) it is a fair fundamental assessment to suggest that the bearish move was far more reserved than what is justifiable. From the recent peak in the market’s upswing, the active Nymex crude futures contract has slipped only 2.7 percent. For comparison, the S&P 500 plunged 2.9 percent just through Friday’s active session.

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