At-a-Glance
Today’s Top Highlights
WTI Crude Oil and the Crypto futures markets were the talk of the markets today, both seeing strong selling pressure after having a few positive trading days in a row. Crude has been on many traders' minds due to the tensions in the Middle East and South America, but over the last 5 trading days the market has done nothing but run higher. Today, Crude led the selling pressure across markets trading down over 5% and traders are now wondering if the momentum over the last few days is over or if this is a singular market event that drove prices lower.
Crypto futures are seeing a similar story, as Bitcoin futures saw a drop of over 2% today after having 2 strong consecutive trading days in a row. Crude Oil has been in more of a bearish trend over the long term relative to the Crypto market, but both were showing signs of strength early this week and traders were watching to see if more significant moves higher would be made. There were a lot of positive economic reports released today looking at Initial Jobless Claims coming in lower than expected and manufacturing data that was positive, which gave the equity indices momentum in spite of the selling in Crude and Crypto futures.
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