Crude Oil Wrap Up
Prices surged in April as tensions in the Middle East worsened, which is likely the cause of this drastic drop. However, softening demand and stabilizing inventory is also keeping prices from making any major gains.
Prices surged in April as tensions in the Middle East worsened, which is likely the cause of this drastic drop. However, softening demand and stabilizing inventory is also keeping prices from making any major gains.
As posted BEFORE the opening, the stocks that were held by the most hedge funds would be the weakest today, as funds are too overweight stocks relative to bonds.
With the NASDAQ and S&P stuck in a range, let’s look at what the possibilities are for the range to persist and what will trigger the breakout.
The surge in commodities is bad for bonds. IT makes it much less likely the Fed will lower interest rates, if inflation is rising.
The PCE is coming up on Friday and it is the favored data metric for the Federal Reserve’s outlook on inflation. In the meantime there are some trends to focus on as end of month approaches.