On March 30, 2017, US crude oil (DBO) (OIIL) (USL) (SCO) futures contracts for May delivery closed at $50.35 per barrel, a ~1.7% rise over the previous trading session.
Eastern US major railroad Norfolk Southern (NSC) was up 2%, while its arch rival CSX (CSX) was up 2.4%.
On March 26, 2017, Donald Trump proposed a 13% cut in federal funding for transportation in the 2018 budget.
The Truck Tonnage Index, which takes into account for-hire trucks, fell 0.1% in February 2017.
The recent announcement by President Donald Trump that he plans to cut infrastructure spending has sent shockwaves across the transportation industry.
Among senior gold miners (GDX) (GDXJ), Goldcorp (GG) is trading at the highest EV-to-forward-EBITDA multiple of 10.6x.
The Chilean joint venture could be a good way to combine strategies, thus reducing capex and bringing big projects online in a volatile price environment.
After Goldcorp (GG) announced its plan to acquire a 50.0% stake in the Cerro Casale project in Chile, GG stock fell a huge 7.0% in just one day.
Cerro Casale has proven and probable gold reserves of 23.2 million ounces and 58.7 million ounces of silver reserves.
Goldcorp will form a 50-50 joint venture with Barrick Gold for the Cerro Casale project, which will help jointly advance the project.
According to data from the EIA released on March 23, 2017, natural gas (UNG) (FCG) (GASL) inventories fell by 150 Bcf during the week ending March 17, 2017.
On March 29, 2017, May 2017 natural gas futures were trading at a discount of $0.30 to the May 2018 futures contract. On March 22, the spread was at $0.35.
Between March 22 and March 29, 2017, natural gas (GASX) (FCG) (GASL) May futures rose 5.4%. The US dollar rose 0.3% during that period.
On March 24, the natural gas rig count was 155—a fall of two rigs over the previous week. Active natural gas rigs have risen by 63 in the past year.
In the past five trading sessions, natural gas May futures rose 5.4% and closed at ~$3.18 per MMBtu on March 29, 2017—2.6% higher than the previous session.
In 2016, Fitbit (FIT) inked a deal with Pebble to harvest certain Pebble assets, now that the latter company has begun shutting down operations.
On March 28, 2017, PPL Corporation (PPL) had a short interest-to-equity float ratio of 16.3%—the highest among the utility stocks that make up XLU.
Among the high implied volatility stocks, FirstEnergy (FE) has risen the most in the last five days, while Scana (SCG) has fallen the most.
On March 28, 2017, NRG Energy (NRG) had the highest implied volatility among the companies that make up the Utilities Select Sector SPDR ETF (XLU).
Active crude oil futures are now trading at a discount of $1.87 to futures contracts 12 months ahead, which is the lowest since March 20, 2017.