from King World News
Overnight Glencore’s CEO had some fascinating comments about commodities.
[…] Here are the comments that came from Glencore’s CEO, courtesy of Art Cashin: Overnight And Overseas – Perhaps the key feature overnight comes from Glencore. They had lousy numbers but the CEO said that commodities had bottomed. Given his reputation as a sharp trader that brought a quick response. Many commodities and commodity currencies are higher.
Oil is up on the Glencore comments, Russia’s call for a meeting of all its internal producers and the imminence of a Venezuelan default, which could take them off the market (explain tomorrow). Asian markets a bit better with India red hot. European markets are generally firmer as is the dollar.