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OPEC Confident Global Oil Demand Will Stay Strong

Authored by Tsvetana Paraskova via OilPrice.com, An OPEC technical panel has found that global oil demand is on pace to stay strong in the second half of this year, suggesting that the oil market could comfortably absorb a production increase without sending oil prices plummeting, Reuters reported on Tuesday, citing three OPEC sources. A technical panel - a kind of economic body within OPEC - met on Monday to take stock of the oil market situation and to prepare a report for the ministers of the OPEC countries at their meeting later this week. “If... -Zero Hedge

On The Fly: Top stock stories for Monday

Stocks began the week in negative territory as worries of a trade war between the U.S. and China were not put to rest by a weekend that was light on news from the trade front. The market saw its lows a short time after the open and then drifted until just before lunch, when the Nasdaq first crossed into positive ground. The Dow was the laggard throughout the day, but was able to cut is losses before the close of a slow moving day of trading. ECONOMIC EVENTS: In the U.S., the NAHB housing market index fell 2 points back to 68 in June, reversing a 2... -The Fly

Fitch Warns Las Vegas Home Prices "Most Overvalued In America"

Las Vegas, one of the epicenters of the real estate crash in 2007 to 2009, has yet to recover from its August 2006 speculative bubble peak, but recently, upside momentum in 2018 prices has Fitch Ratings, a nationally recognized statistical rating organization (NRSRO), very concerned about market stability. While the S&P/Case-Shiller U.S. National Home Price Index remains strong as price broke above the July 2006 double top in 1Q17, there are signs that some real estate markets across the country are overheating with the Las Vegas market coming in... -Zero Hedge

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