US crude oil futures settle at $50.43 per barrel

Microsoft shares gained 4 percent in extended trading after it reported quarterly results that beat analysts' expectations on Thursday.

The company posted adjusted first-quarter earnings per share of 76 cents on revenue of $22.33 billion. Wall Street also expected Microsoft to report earnings of about 68 cents a share on $21.71 billion in revenue, according to a Thomson Reuters consensus estimate.

Paypal reported earnings Thursday after the bell, meeting Wall Street expectations of 35 cents per share, and beating revenue expectations.

Paypal posted third-quarter revenues of $2.67 billion, beating estimates of $2.65 billion.

Schlumberger Ltd, the world's No.1 oilfield services provider, reported a 17 percent fall in quarterly revenue, hurt by weaker drilling activity and pricing pressure.

Net profit attributable to Schlumberger fell to $176 million, or $13 cents per share, in the third quarter ended Sept. 30 from $989 million, or 78 cents per share, a year earlier.

Revenue fell to $7.02 billion from $8.47 billion.

General Electric (GE) reported 3rd Quarter September 2016 earnings of $0.32 per share on revenue of $29.3 billion. The consensus earnings estimate was $0.31 per share on revenue of $30.0 billion. The Earnings Whisper number was $0.34 per share. Revenue fell 7.6% compared to the same quarter a year ago.

The company said it now expects 2016 earnings of $1.48 to $1.52 per share. The company's previous guidance was earnings of $1.45 to $1.55 per share and the current consensus earnings estimate is $1.49 per share for the year ending December 31, 2016.

Honeywell International (HON) reported 3rd Quarter September 2016 earnings of $1.67 per share on revenue of $9.8 billion. The consensus earnings estimate was $1.60 per share on revenue of $10.1 billion. The Earnings Whisper number was $1.68 per share. Revenue grew 2.0% on a year-over-year basis.

The company said it continues to expect 2016 earnings of $6.60 to $6.64 per share on revenue of $39.4 billion to $39.6 billion. The current consensus earnings estimate is $6.60 per share on revenue of $39.63 billion for the year ending December 31, 2016.

US Baker Hughes total rig count 553 vs 539 last week

Oil rigs 444. Gas rigs 108

Last week, total rig counts totaled 539.  Oil rig counts accounted for 432, while gas rigs stood at 105.

US Baker Hughes total rig count 553 vs 539 last week

Oil rigs 444. Gas rigs 108

Last week, total rig counts totaled 539.  Oil rig counts accounted for 432, while gas rigs stood at 105.

something for opec to think about!

but wti still holding >50, at least for now.
this week has been very boring... sleep early, good.

Unless demand pick up substantially, with increasing number of oil rigs count, oil glut in 2017 is a possibility.

AT&T in advanced talks to acquire Time Warner, deal could be announced this weekend, DJ reports

AT&T in advanced talks to acquire Time Warner Inc, sources tell @wsj, in ambitious marriage of content and distribution $T $TWX

Opening for m&a season?

AT&T Reaches Deal to Buy Time Warner for $85.4 Billion
Wireless carrier agrees to pay $107.50 a share in half-cash, half-stock deal

China Oceanwide to Buy Genworth Financial for $2.7 Billion

TD Ameritrade to buy Scottrade Financial in $4 billion deal

AT&T's Stephenson says nature of Time Warner deal different than anything it's ever done before

AT&T Chairman and CEO Randall Stephenson told CNBC on Monday the telecommunications giant's mega-deal to buy Time Warner is a "pure vertical integration."

53.2 vs 51.5 exp
mftg output index 55.3 vs 52.5 prev
news orders 54.7 vs 51.1 prev

Russian oil minister says oil supply still higher than demand

OPEC not yet discussing output cut exemptions - UAE Minister

Oil - Iraq says it should be exempted from OPEC output freeze

Novak: Russia in talks with OPEC on right level of output

Fed's Bullard: 'No urgency' to raise rates; December 'most likely' for hike

US Treasury's Weiss sees compelling benefits to more market transparency

Fed's Bullard: Low interest rates likely to remain the norm for 2-3 years

US Fed's Dudley says need greater transparency of treasury market activity

Crude oil falls below $50 per barrel as Iraq resists calls from OPEC to reduce output.

Could be the reason of this quick fall

russia and iran now talking it up!

Did not see anything cross my news deck, sorry maybe I missed it.

Do you know what they said ?

"Expect more of this choppy interplay until more concrete news emerges, as speculative buying runs into record producer selling of the futures contracts for hedging," said Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore.