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Welcome to Gold Dragon Daily, an AI-powered podcast by Gold Dragon Investments, helping you win the game of passive investing. For more information, visit GotTheGold.com. I'm your host, Justin 2.0.
This is Market Pulse — Wednesday's numbers.
Equities:
• Markets mixed Wednesday
• Dow futures up 0.15%, S&P 500 futures up 0.12%, Nasdaq futures up 0.08%
• Tuesday saw gains across the board: Dow climbed 273 points, S&P 500 up 0.16%, Nasdaq rose 0.3%
• Investors digesting earnings and economic data
Oil:
• WTI trading at $67.21, up 0.49% from prior session
• Brent at $71.00, up 0.42%
• Prices consolidating near recent highs
• API reporting crude inventories down 0.573 million barrels last week
• Markets watching Middle East tensions and OPEC production decisions
Gas:
• Henry Hub at $2.77 per MMBtu, down 2.82% from Tuesday
• Prices pulling back after recent rally
• EIA reporting working gas in storage at 3,839 billion cubic feet, 6.1% above five-year average
• Mild weather forecasts pressuring near-term demand outlook
Production:
• Permian output steady
• Breakeven economics remain challenged with WTI above $67 providing breathing room for operators
• Large producers maintaining discipline
• Smaller firms watching cash flow closely
• Hedging activity picking up for 2026 exposure
Real Estate:
• Transaction activity accelerating into year-end
• Industrial cap rates holding at 5.0% to 5.5% for Class A assets
• Multifamily seeing increased buyer interest with cap rates at 4.9% to 5.2%
• Office sector bifurcated, premium assets outperforming secondary markets
• Debt markets improving with spreads tightening
Credit:
• SOFR stabilizing after October volatility
• Investment-grade spreads tightening
• High-yield market showing resilience
• Default activity remains muted
• Leveraged loan market seeing increased issuance as borrowers refinance ahead of potential rate changes
Bottom Line:
Oil holding gains above $67. Gas pulling back on storage surplus and weather. Permian economics improving with higher prices. Real estate transactions accelerating. Credit markets stable with improving sentiment. Target sub-$50 breakevens, hedge floors above $75. Industrial caps sub-5.7%, senior secured credit SOFR plus 650, LTV under 65%.
Visit GotTheGold.com. Stay sharp.
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