The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Blogs Dashboard:
If you are in St Louis, buy gas on a Tuesday or Wednesday
The pass through from low gas prices to U.S. consumer spending is a fraught issue and central banks say it is being distorted by the zero lower bound. Now another complication, if you are in St Louis.
According to calculations from the Federal Reserve Bank of St. Louis, you can save up to $60 a year if you buy gas on a Tuesday or Wednesday. Gas prices are most expensive on Fridays, Saturdays and Sundays and fall sharply in midweek, with Tuesday almost 4 cents a gallon cheaper than the average price.
"The simplest explanation is that most consumers aren't aware of the cycles. Even if some were aware, they may not care enough about saving a few dollars to change their behavior," the study found.
from Morning Bid with David Gaffen:
The beginning of earnings season this week brings the usual hopes for best-case scenarios, particularly as the outlook has deteriorated notably since the beginning of the year, when it was still thought that the weakness would be mostly confined to the impaired energy sector.
The former BP chief swings by Times Square to discuss his new book on how companies can radically engage with the wider world and become more inclusive to the benefit of owners. He also talks about the potential for M&A in the energy business, the oil market and Brexit.