VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[sludgehound]

2 am bits Libya down, Kuwait Oil Min bottom. Global view

08:24 News Bot: Libya oil output has decreased to below 400k bpd, after port halt, according to NOC

07:27 News Bot: Kuwait Oil Minister has said that oil prices may have hit a bottom level now
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This below could encourage US Fed & world CBs to keep boosting or at least to delay rate hikes until runaway conditions.

Global stocks extended a rally Wednesday, buoyed by higher oil prices and gains in resources shares.
Futures markets pointed to a 0.3% gain for the Dow Jones Industrial Average. Changes in futures aren't necessarily reflected in market moves after the opening bell.
The Stoxx Europe 600 rose 1.0% midmorning, shrugging off heavy declines in auto shares after Volkswagen AG announced its emissions-testing scandal had widened beyond what was previously disclosed.
Gains in Europe Wednesday were led by energy and basic resources companies, which have staged a sharp rally over the past several weeks. These companies took a battering in August and September after fears grew over a slowdown in China .
"Markets are maybe turning a bit more positive and we're seeing some sectors that have been suffering a lot" recovering, said Eric Verleyen , chief investment officer at Société Générale Private Banking, which oversees EUR117 billion in assets.
Mr. Verleyen said he believes fears over China were overdone and he decided to increase his allocation to stocks in September, especially in the eurozone and Japan where central banks should keep pumping cash into the system.
In Europe , shares in basic resources firms gained 2.6% Wednesday led by Glencore PLC , which was up more than 5%. The Swiss mining giant said Wednesday it made significant progress in reducing its net debt and reaffirmed that its commodities trading division is performing in line with expectations. Shares in Anglo American PLC were also up 4.7%.
Energy stocks were up nearly 2%.
But auto shares acted as a drag on broader indexes, falling 2.7%. The falls were led by Volkswagen AG and the group's financial holding, Porsche Automobil Holding SE , which were down 9.2% and 8.2% respectively.
Shares in other German auto makers Daimler AG and Bayerische Motoren Werke AG were both down around 3%, helping to drive Germany's DAX index into negative territory.
While Friday's October U.S. jobs report will be the week's data highlight, others readings on the U.S. economy were in focus Wednesday.
Private-sector employment gains continued in October, coming in just ahead of expectations. Employers added 182,000 jobs last month, Automatic Data Processing Inc. said, ahead of the 180,000 estimate.
Also, the U.S. trade deficit narrowed sharply in September due to a rebound in foreign countries' demand for American goods, the Commerce Department said. The trade gap shrank 15% from August to $40.81 billion , the smallest deficit since February.
Appearances by Federal Reserve officials later in the day may offer clues on the timing of the first rise in U.S. interest rates in almost a decade, including a testimony from Fed Chairwoman Janet Yellen before a U.S. House committee.
Central banks have been the main driver of financial markets in recent months. Global stocks fell sharply in August after China weakened its currency, sparking concerns over the severity of a slowdown in its economy.
Since then, central bank officials have boosted markets by either easing monetary policy or signaling they are ready to act. The People's Bank of China cut interest rates last month, while many investors now expect the European Central Bank to boost its monetary stimulus program in December.
Last month, the Fed signaled it was prepared to raise interest rates at its December meeting, pulling back market expectations that had shifted to a 2016 liftoff after the Fed decided against increasing rates in September.
"We think the U.S. economy is strong enough to absorb it," said Mr. Verleyen. "By raising rates, the confidence level of the U.S. entrepreneur could be higher. It could create more positive economic momentum."
Friday's jobs number, as well as revisions to previous reports, will be crucial when it comes to determining the Fed's next move, said Anthony O'Brien , co-head of European rates strategy at Morgan Stanley .
"By the time we get to December, the Fed will make it blatantly clear...that they are going or not going," he said, adding that he expects the Fed to raise rates in December.
Wednesday's market rally followed a strong close for Wall Street on Tuesday, where higher oil prices fueled gains in energy shares.
Brent crude edged up 0.4% to $50.79 a barrel Wednesday.
In Asia , out-of-date comments from China's central bank raised hopes that a trading link between Shenzhen and Hong Kong would launch by year-end and sent stocks sharply higher. The Shanghai Composite Index ended up 4.3%, while Hong Kong's Hang Seng Index climbed over 2%.
Japan's Nikkei 225 index rose 1.3% after reopening from a holiday.
In currencies, the euro was down 0.4% against the dollar at $1.0916 after European Central Bank President Mario Draghi on Tuesday defended the bank's readiness to do more to combat low inflation.
In commodities, gold was 0.3% higher at $1117.40 a troy ounce.
After U.S. markets close, social media giant Facebook Inc. will announce its third-quarter results.
Write to Christopher Whittall at [e-mail] and Riva Gold at [e-mail]

(END) Dow Jones Newswires
11-04-15 0850ET
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