The Traderszone Network

Tension at Goldman Sachs: oil is going up says one of ’em. No, its going down say others at the bank.
Yesterday I posted on a technical analysis view from GS:

Holiday demand was strong, but results weren’t enough to satisfy investors used to big beats.

Asian shares wobbled on Tuesday as crude oil prices slid on rekindled oversupply fears and after downbeat manufacturing data raised concerns about global momentum. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, while Japan’s Nikkei (.N225) slipped 0.7 percent. U.S. crude oil (CLc1) was down about 0.8 percent at $31.38 a barrel after skidding as much as 7 percent overnight, pressured by weak economic data from China, a U.S. forecast for mild weather and doubts suppliers would be able to agree on steps to address the global supply glut.

For the first time, the company disclosed the profitability of Google’s search engine and its other online services, and how much it is spending on ambitious technology projects such as self-driving cars. The numbers were lapped up by investors, who saw room for growth in Google’s traditional business, and were relieved to see that spending on new projects it calls ‘Other Bets’ was not as lavish as some had feared.

The front month contract for West Texas Intermediate (WTI) (CLc1) was down 28 cents at $31.34 as 0010 GMT after falling $2, or 5.9 percent, in the previous session. Crude prices fell after China’s purchasing managers index dropped to a three-year low in January, coupled with rising oil supplies, ANZ said in a note on Tuesday. Output from OPEC rose to 33.1 million barrels per day last month as Indonesia’s membership to the group was reactivated,” the note added.

A refugee simulation at the World Economic Forum in Davos tries to show the rich and powerful what it’s like to be displaced in a war-torn country. Eleni Giokos tries out the Crossroads Foundation experience.

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Cybersecurity firm FireEye Inc. has purchased Invotas International Corp., which was spun off from CSG Systems International Inc.

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