At-a-Glance
Key Takeaways with Ryan
Markets are seeing mixed results off of some key data today with Crude Oil futures leading the push higher trading over 4% higher on the session. In terms of data today for Crude, there was an inventories report that came in better than expected and the prices jumped significantly. The Crude market has seen a strong comeback over the past few weeks, and the July contract broke above the 200-day moving average on a closing basis, which has not been seen since the breakdown from the tariff announcement.
Outside markets saw movement today as well, with the equity markets seeing broad selling pressure. CPI came in slightly worse than expected, and initially equity indices rallied to the upside before crashing down and making a new low on the session. Looking at the volatility for Crude historically (CVOL), you can see a slight jump in both the price along with the volatility along with a jump in the underlying price.
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