Oil Prices Continue Dramatic Slide
Oil Prices Down Nearly 20% This MonthIt's no secret that oil prices have been way down lately, but looking at the data for this month it's surprising just how much they've fallen.
This is on the heels of a further 13% fall for gold on the month, which has combined with the fall in oil in order to leave commodities investors reeling. In some ways the commodities market is a sign of just how strong the dollar is -- and that's especially true when it comes to gold. But in the case of oil, we're dealing with a supply glut combined with a reduction in demand, and that's a surefire equation for lower prices.
Transocean (RIG) Up Ahead of EarningsIn trading today, Transocean (RIG) rose 7.70% to close up 1.01 points at $14.12. The spike in price -- which you might not expect if you've been paying attention to the price of oil -- is mostly due to the fact that Q2 earnings are on the way. Although Transocean has hardly been performing well, it has beat the otherwise ailing Energy Minerals sector.
Tesla (TSLA) Climbs Nearly 5%Electric car manufacturer Tesla (TSLA) posted big gains today on the back of their Q2 earnings report. Not only did they beat earnings, but the car company also revised guidance upwards slightly, giving them a positive outlook through the rest of the year. Tesla rose by 4.67% today, adding 11.81 points to their $264.82 share price.
China's Stock Market Continues to SlideIt's no secret that the Chinese economy has been ailing over the long run, despite isolated booms in their large and diverse population. But the Chinese stock market -- Hong Kong's Hang Seng is the de facto place that the Chinese go to trade -- has been a roller coaster over the past three months.
In a market that regularly posts declines and advances of nearly 1,000 points, the trend has been a bad one. The market has lost over 3,000 points -- or just above 13% -- since May. And there's just no telling where it will end up by the time summer is over with.
Published on Jul 28, 2015By Aaron Phillips