Stock futures flat; oil gains amid Iraq violence


Stock index futures are flat along with most major global markets ahead of jobless claims and retail sales at 8:30 ET.

The big action is in oil amid terror troubles in Iraq, with WTI crude up 1.5% to $105.99 per barrel. Gold, however, sees little bounce, up $3 per ounce to $1,264.

The 10-year yield is up one basis point to 2.65%.

ETFs: SPY, QQQ, SH, DIA, SSO, SDS, PSQ, VOO, IVV, SPXU, UPRO, TQQQ, SPXL, QID, RSP, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SDOW, DDM, BXUB, QQEW, QQQE, SFLA, SPLX, QQXT, BXUC, SPUU

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Comments (3)
  • User 353732
    , contributor
    Comments (5152) | Send Message
     
    Just 4 weeks ago the "experts" were forecasting a supply glut and opining on great downward pressure on prices. Now both Libya and Iraq are once again prey to Islamic terrorism as the US Regime babbles about "resets" . The fragility of the global oil supplies, is revealed, yet again. Brazil is failing to deliver on its promises, narco violence will deter investments in Mexican shale and Norway is behaving like Nigeria.
    North American oil would be selling at a premium (and even more risk capital and innovation would be fostered and more income and jobs created) instead of a discount if the US Regime were not so hostile to US and Canadian oil and gas industries.
    12 Jun 2014, 08:24 AM Reply Like
  • capitolp
    , contributor
    Comments (713) | Send Message
     
    I remember being told the Iraq war was not about oil but for the greater good of mankind. Well that was sure worth the waste of lives and trillions of dollars whenever a few guys in old Toyota pickups can over run a country we supposedly saved.
    12 Jun 2014, 09:42 AM Reply Like
  • RM13
    , contributor
    Comments (1195) | Send Message
     
    Iraq is fundamental political mistake to be thought by westerners as a single country - a case where locals thinks of themselves as Kurds, Shiite, Sunni. So, of course, it would have been brilliant and instantly stabilizing to the region to divide the paper country into 3 ethnically cohesive units - but of course that strategy would be opposed by Turkey and Saudi Arabia. So in fact, Iraq will be divided into 3 countries on its own in time, without blessing of US and Western Europe - because they can't do so in face of their Middle East allies' opposition.
    13 Jun 2014, 12:59 AM Reply Like
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