Oil Drillers Betting Three-Month Crude Rally Is Nearing the End

Oil producers are taking advantage of the rebound in crude markets to lock in protection against another slump. They increased their bets on falling prices to the highest level in 4 1/2 years as U.S. inventories of stored oil remained near an 87-year high. Analysts believe that the oil price did not continue to rally on negative sentiment news on the natural disaster in Canada and militant attacks in Africa curtailed output is a negative sentiment for oil price.

Source: Bloomberg

Global Gold ETF are stocking up gold in 2016Q1

Investors responded to uncertain economic environment with near-record ETF inflows
  • Inflows were global, not restricted to dominant Western markets: volumes of gold held in Chinese products more than doubled during the quarter.
  • The trend continued into April, particularly in Europe where investors were plagued by lingering ‘Brexit’ fears.

Source : World Gold Council, 2016 Q1 Report

US Market Down 1.2% while Yen soars

Major averages ended sharply lower Thursday as a market under mild distribution showed more of it, at least on the Nasdaq.

Dow Jones industrial average-1.2%

Market were affected by the disappointing announcement of the Bank of Japan surprisingly held its monetary policy unchanged.

Yen soared against the USD and also sent Tokyo’s Nikkei 225 to a 3.6% loss before the US market opened.

US GDP G1 growth estimated at 0.5%, sharply below Q4 growth and below market expectation of 0.7%, by the Labor Department.

Amazon (AMZN) reported after-hours session better than Q1. Share surged 12% in after market. Facebook (FB) Q1 earning reports triggered 7% surge.

Edwards Lifesciences (EW) gapped up and gained 16%.

Leading medical-device maker Edwards Lifesciences (EW) jumped Monday, a day after its artificial heart valve passed a hurdle that could greatly expand its market. 
Edwards conducted a large clinical trial comparing its transcatheter aortic valve replacement (TAVR), Sapien 3, to traditional open-heart surgical valve replacement in patients with aortic stenosis, or shrinking of the aortic valve of the heart, who were characterized as “intermediate risk” for open-heart surgery. The study followed up on patients 30 days after surgery and again a year later, and it found that deaths and strokes were both significantly lower in the Sapien group.
Sapien 3, which is delivered via catheter through a small incision in the patient’s thigh, was approved in June 2015 for patients who were at high risk if they had open-heart surgery. Adding the intermediate-risk population to the patient pool led several analysts to hike their sales estimates for the product.

Source; IBD