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Stock impact report

Oil Resumes Rally As Stockpiles Seen Lower, China Eyes Tax Cuts [Investor's Business Daily]

CME Group Inc. - Class A (CME) 
Last cme group inc. - class a earnings: 4/29 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
Oil climbed as investors anticipated another decline in U.S. crude inventories and China promised to slash taxes to avert an economic slowdown. Futures in New York rose 3.2 percent after sinking during the past two sessions. American stockpiles probably fell for the sixth time in seven weeks, according to a Bloomberg survey of analysts before government data due Wednesday. After trading closed, an industry report offered a more tepid view on demand, with big increases in U.S. gasoline and diesel inventories. The U.S. Energy Department, meanwhile, forecast continued growth for world oil demand. Oil resumed its New Year's advance along with major equity indexes after China said it would cut taxes to counter any slowdown. While prices remain more than 30 percent below October's four-year high, they've rallied in 2019 on signs of shrinking supplies and indications the global economy can avoid a worst-case scenario. "The Chinese are throwing everything they can" at their economy, said John Show less Read more
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