The stock market is having its worst drop in eight weeks on concerns over President Trump’s FBI controversy. The New York Times late yesterdy reported that in February, President Trump asked then-Federal Bureau of Investigation Director James Comey to stop his investigation into former National Security Adviser Michael Flynn. The report cited a memo from Comey. That has raised questions about the president’s ability to implement pro-market policies that have driven stocks to recent records.
Data from the U.S. Energy Information Administration shows that domestic crude supplies fell by 1.8 million barrels the week ended May 12. That was the sixth weekly drop in a row . The American Petroleum Institute late yesterday Tuesday reported an 882,000-barrel increase, while analysts polled by S&P Global Platts forecast a fall of 2.2 million barrels. Gasoline stockpiles declined by 400,000 barrels. June crude is up 1.6% to $49.490 a barrel on the New York Merc.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
