Those wondering what matters in this market, here is the answer: moments ago US stocks stormed into the green…
… following oil which after some confusion after today’s massive DOE inventory build, has surged back over $32…
… one just one piece of news: moments ago both Reuters and Bloomberg cited the CEO of Russia’s Transneft, who said that Russia and OPEC will discuss possible output cuts:
- BREAKING: Russia’s Transneft says Russia and OPEC will discuss possible output cuts -TASS
- RUSSIA TO DISCUSS OIL OUTPUT LEVELS W/ OPEC: TOKAREV
And also this:
- RUSSIA TO CONTIUE WEIGHING NEED TO COORDINATE W/ OPEC: KORSIK
The response: every risk assets is now soaring tracking the bounce in oil tick for tick. At least until Saudi Arabia issues a statement denying that it has any intention of cooperating with Russia on production cuts.
For now, however, those record WTI and Brent shorts are feeling the heat.
Because as Martha Stewart tweeted it best…
OiI
— Martha Stewart (@MarthaStewart) April 22, 2013
Finally, just to make sure stocks really surge, there was this:
- NASDAQ EXPERIENCING ISSUES AT MID-ATLANTIC DATA CENTER
via Zero Hedge http://ift.tt/1no2pnY Tyler Durden