The Traderszone Network

Oil dropped to the lowest level in more than four months amid speculation a global glut that drove prices into a bear market will be prolonged. Goldman Sachs Group Inc. said the global crude oversupply is running at 2 million barrels a day and storage may be filled by the fall, forcing the market to adjust, analysts including Jeffrey Currie said in the report dated Thursday. U.S. crude supplies remain more than 90 million barrels above the five-year seasonal average, Energy Information Administration data on Wednesday showed.

As Model X production is looking to be more difficult than anticipated, management revises guidance lower.

Keurig’s plan to cut $100 million in costs this year signals further declines in hot brewer sales, analysts say.
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The company raised its growth estimates for the year, but a larger than expected loss is causing investors to bid the shares lower.

Easy to master, the latest electric skateboards can even connect to your smartphone.

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Well my “squishy” market just got a bit squishier as the indexes are down 1 to 1.5% just after lunch. Media companies, which have reported a flurry of disappointing earnings amid concerns about the shift away from traditional television are getting hammered.

Media names like FOX, DIS, TWC, AMCX, STRZA, VIA are down as much as 15% at midday.  This is certainly weighing on the market.

Keep in mind that investors are also skittish ahead of the July U.S. jobs report, due out tomorrow, as they try to gauge the path of interest rates in the U.S.

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America has blocked efforts by the poorest countries on Earth to raise the money they need to develop their economies, writes Joseph Stiglitz.
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