The Traderszone Network

Authored by Michael Meyer, originally posted at Project Syndicate,

The idea that oil wealth can be a curse is an old one – and it should need no explaining. Every few decades, energy prices rise to the heavens, kicking off a scramble for new sources of oil. Then supply eventually outpaces demand, and prices suddenly crash to Earth. The harder and more abrupt the fall, the greater the social and geopolitical impact.

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Comments from Greece’s ex-finance minister Varoufakis
(Aka: Who?)
– Greek debt repayments will be difficult
–
So, he is still just as insightful as he ever was. Thanks for that.

The diversified industrial saw widely varied performance from its business segments in the fourth quarter.

Forex news for US trading on Feb 1, 2016
– Gold up $11 to $1129
– WTI crude down $2.16 to $31.46
– US 10-year yields up 3.4 bps to 1.955%
– GBP leads, USD lags
The US dollar was under broad pressure in New York trading Monday with the pound, euro and commodity currencies taking full advantage.

Among nearly the half of the S&P 500 companies that already reported fourth-quarter earnings, more than two-thirds reported results above Wall Street expectations, but the reward for beating estimates so far has been minimal
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Yahoo Finance breaks down the biggest stories of the day and looks at tomorrow’s headlines today.

(Reuters) – Google parent Alphabet Inc reported better-than-expected quarterly revenue on Monday, boosted by strong sales of advertising on mobile devices and YouTube. Alphabet, announcing its first results …