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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

11/23/18

The holidays, Black Friday and a 52 week low in oil is a good recipe for the airlines, cruise ships and the retail sector. The big three airlines Delta (DAL), American Airlines (AAL) and United (UAL) are all up over 2%. The cruise liners are also higher with Carnival (CCL), Royal Caribbean (RCL) and Norwegian Cruises (NCLH) up 2% or more. The retail sector is higher today, but not as much as expected. A number of retailers are lower including Macy's, Ross Stores, TJX, and Kohl's.

Another bad day for oil as the price of oil drops 7% to a more than a 52 week low. The value of a barrel of oil has tumbled about 20 percent this month, adding to a seven-week streak of consecutive losses. Brent futures hit $58.95 per barrel, while West Texas Intermediate slid to as low as $50.60 per barrel early Friday. Exxon Mobil (XOM) slipped more than 3%, Chevron (CVX) was down more than 4%, and the Energy Select Sector SPDR (XLE) set a new 52-week low. The good news for oil investors is OPEC and non-OPEC members are meeting in Vienna on Dec. 6 and are expected to start curtailing output.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.