LONDON – Oil prices fell on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices even as a stock market rally offered support.

Berry Petroleum Company LLC (NASDAQ:BRY) – Stock analysts at KeyCorp issued their Q4 2018 earnings estimates for Berry Petroleum in a report issued on Wednesday, December 19th. KeyCorp analyst L. Mariani anticipates that the energy company will earn $0.38 per share for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Berry Petroleum’s Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.34 EPS and FY2019 earnings at $1.38 EPS.

AquaVenture Holdings Ltd (NYSE:WAAS) – Stock analysts at B. Riley lifted their FY2019 earnings per share (EPS) estimates for shares of AquaVenture in a research note issued to investors on Wednesday, December 19th. B. Riley analyst J. Van. Sinderen now expects that the company will post earnings per share of ($0.56) for the year, up from their prior estimate of ($0.61). B. Riley has a “Buy” rating and a $28.00 price objective on the stock.

Phillips 66 Partners LP (NYSE:PSXP) – Research analysts at Mitsubishi UFJ Financial Group cut their Q3 2019 earnings estimates for shares of Phillips 66 Partners in a note issued to investors on Wednesday, December 19th. Mitsubishi UFJ Financial Group analyst B. Blaschke now expects that the oil and gas company will earn $1.23 per share for the quarter, down from their prior estimate of $1.24. Mitsubishi UFJ Financial Group also issued estimates for Phillips 66 Partners’ Q4 2019 earnings at $1.25 EPS and FY2019 earnings at $5.06 EPS.

The greenback stays on the back foot

Summary

• It has been a rough year for most investors, particularly compared to 2017.
• Average stock’s share of portfolios is the best indicator available to predict future stock market returns.
• Using information published by the Fed we can accurately calculate the indicator.
• The indicator predicts returns well below historical averages for the next 10 years, even when accounting for recent market turmoil.

TALKING POINTS – US-CHINA TRADE WAR, JAPAN, RISK ASSETS, NZD, AUD, CHF, JPY

• US-China trade war poses a serious threat to global growth and markets, despite temporary truce
• Japan’s stagnation from imposition of American tariffs and USD weakness may be a lesson for China
• Ongoing trade talks between Trump and Xi Jinping continue to weigh on equities, pro-risk units

The New Home Company Inc. (NWHM) had a rough trading day for Monday December 24 as shares tumbled 5.1%, or a loss of $-0.27 per share, to close at $5.02. After opening the day at $5.10, shares of The New Home Company Inc. traded as high as $5.23 and as low as $5.02. Volume was 53,433 shares over 442 trades, against an average daily volume of 69,155 shares and a total float of 20.44 million.

World stocks sank Monday, lacking Christmas cheer as investors fretted over a “triple whammy” of a US government shutdown, President Donald Trump’s feud with the Federal Reserve and the ongoing US-China trade war. 

Treasury Secretary Mnuchin conducted calls with major banks over the weekend