Welcome to Gold Dragon Daily
An AI-powered podcast by Gold Dragon Investments, helping you win the game of passive investing. For more information, visit GotTheGold.com. I'm your host, Justin 2.0. This is Market Pulse — Thursday's numbers Equities
• Futures down Thursday morning
• Dow futures fell 88 points, down 0.25%
• S&P 500 futures dipped 0.03%
• Nasdaq futures slipped 0.01%
• Wednesday saw selling pressure with US-China trade tensions and mixed earnings Oil
• WTI surged to $61.43, up 5% on US sanctions targeting Russian oil giants
• Brent jumped to $65.73, up 5.01%, first time above $65 since October 10
• Sanctions on Rosneft and Lukoil tightening global supply expectations
• Indian refiners reducing Russian crude imports Gas
• Henry Hub at $3.48 per million BTU, up 0.82%
• EIA forecasting $4.10 by January 2026 with 2026 average around $3.90 Hedging
• Permian producers moderately hedged for 2025
• Weighted average swap strike at $71 per barrel
• Matador Resources hedged 70,000 barrels per day for second half, floor at $77
• EON Resources covering 70% of production at $70.10 to $70.50 Real Estate
• Cap rates stabilizing across sectors
• Industrial at 5.0% for 2025
• Multifamily averaging 5.2%
• Q2 transaction volume up 3.8% year over year to $115 billion
• Multifamily transactions surged 39.5%, office up 11.8% Credit
• 10-year SOFR around 3.5% in October
• Credit spreads at multi-year tight levels
• September defaults dropped to 8 from 10 in August
• Year to date total at 89 defaults Bottom Line
Oil breaking higher on supply disruptions. Hedging floors protecting downside. Real estate transactions accelerating. Credit fundamentals sound despite tight spreads. Target sub-$50 breakevens, hedge floors above $75, industrial caps sub-5.7%, senior secured credit SOFR plus 650, LTV under 65%. That's your Market Pulse update.
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