Oil Spikes 9%, Enters Bull Market
After getting hammered in the second half of 2014, it appears that oil may be on the rebound. Earlier this week, the markets were good to big energy companies, surging nearly 10%. Will it be sustainable? It’s hard to tell for sure, but it is a good step in the right direction. Here’s how it happened.
Both Brent and West Texas Intermediate crude oil are continuing their rallies, with Brent up 4.4% to above $57 a barrel while WTI prices are higher by more than 5% to around $52.50 a barrel.
In the last three days, WTI prices are up more than 20%, a rally that was kicked off by an 8% gain for both WTI and Brent on Friday, the biggest one-day gain since 2009. With this 20% rally, WTI has technically entered a bull market.
Of course, oil prices are still down about 50% since their peaks hit in June.
Source: Business Insider
Buffett Says Tough for Fed to Lift Rates Given Strong Dollar
When Warren Buffet speaks, people usually listen, and he’s got some words directed at the US Fed. According to Buffett, the Berkshire Hathaway billionaire, the Fed simply cannot afford to lift interest rates this year due to the success of the strong dollar. In his words, it would be “very tough” to due so and would send the wrong message to the international business community.
U.S. economic growth, outperforming most industrialized counterparts, has helped push the nation’s currency higher than it’s been in more than a decade against currencies of six trade partners. That’s making it cheaper for Americans to buy imported goods and helping to lower inflation that’s already below the Fed’s goal, making it harder to boost rates.
Chair Janet Yellen said Dec. 17 that central bankers would have to be “reasonably confident” that inflation would move back to their 2 percent target over time to begin raising interest rates, which have been near zero since December 2008 to help spur the economy.
Survey Shows 213,000 Jobs Added in January, Echoing Outlook for Growth
Job growth was a top story to end out 2014, and from the looks of it, will be another big story in 2015. Early data from this year shows that around 213,000 jobs were added to the US economy in January alone. This is good news for the economy, as new jobs means businesses are growing substantially.
ADP, a payroll processor, said on Wednesday that companies added 213,000 jobs last month, a decent increase though also the smallest in four months. The figure suggests that Friday’s government report will also show a solid burst of hiring. Economists surveyed by FactSet expect the government’s report will show that employers added 230,000 jobs.
The ADP numbers cover only private businesses and sometimes diverge from the government’s report, which includes government agencies.
Source: The New York Times
Get Out of Your Slump: Here’s 5 ways how
Are you in a slump? Do you have the winter blues? Well, it’s high time to shake it off. Keeping momentum early on in the year is critical to keeping on track in business, and accomplishing your goals. In one of our latest blogs, we give you 5 great tips on how to bust a slump, and get back in the saddle for success.
- Switch up Your Routine. Whether you’re a VC, sales exec, CEO, or management, the stress of your daily routine can ware on you. This is especially true if you keep bad habits. If want to get out of a slump, and you’re not sure what’s causing it, the first step you need to take is switch up your daily work routine. Make more free time to spark creativity. Change your diet to help give you more energy. Work from home a few days, or join others at a co-working station, or another public space in your office. You’ll be surprised how quickly your attitude will change.
Read more about how to break a business slump