Halliburton's Updated 1Q17 Guidance: What the Market Suggests
Haliburton stock will likely close between $51.11 and $47.71 in the next seven days. Halliburton’s stock price was $49.41 on March 24, 2017.
In a conference call on March 24, 2017, Halliburton’s (HAL) management said that the company could miss Wall Street analysts’ earnings estimate in 1Q17.
Oracle (ORCL) was trading at a forward EV-to-EBITDA multiple of ~10.9x on March 21, 2017. This metric was lower than Microsoft’s (MSFT) multiple of ~12.7x.
Will Producers' Meeting and President Trump Support Oil Traders?
Brent crude oil prices could fall as low as $40 per barrel by the end of 2017 if OPEC doesn’t extend major producers’ production cut deal in 2H17.
Baker Hughes reported that the US crude oil rig count rose by 21 to 652 rigs from March 17–24. The oil rig count has risen 35 times in the last 38 weeks.
Market surveys estimate that Cushing crude oil inventories rose from March 17–24. A rise in oil inventories at Cushing could pressure US crude oil prices.
These Factors Have Been Driving Silver Prices Recently
Mining funds such as the leveraged Direxion Daily Gold Miners (NUGT) and the Direxion Daily Junior Bull Gold 3X (JNUG) rose substantially at the beginning of 2017.
The past few weeks have been choppy for metals due to concerns surrounding the Fed’s interest rate hike.
Mining funds such as the iShares MSCI Global Gold Min (RING) and the leveraged ProShares Ultra Gold (AGQ) have also seen significant correlations with their respective precious metals.