At-a-Glance
Today’s Top Highlights
Yesterday, the equity markets saw a tremendous rally to the upside with the S&P, Nasdaq, and Russell all trading over 2% higher on the day, and the positive momentum spilled over to today’s session. There were more talks about a peace deal in the Middle East which has been long awaited, and that helped send many markets higher. Today, there was a lot of data released looking at Core PCE, GDP, and Initial Jobless Claims, and although the reports were mixed the markets have moved higher today. Both the S&P and Nasdaq were able to climb through their 200-day and 50-day moving averages which has acted as a ceiling in the markets and now will be looked at as support moving forward.
Outside of the equity indices, Gold and Silver were able to trade positive on the day after also seeing strong gains yesterday. The Crude Oil market saw a slight rebound today after seeing strong selling pressure yesterday with the news coming from the Middle East. The Crude market was very elevated and had been trading in “overbought” territory looking at the RSI on a daily chart for several days, so seeing prices take a big hit to the downside mimics the move seen to the upside over the last few weeks.
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