At-a-Glance
Today’s Top Highlights
Although many markets are experiencing some selling pressure today, Crude Oil futures saw prices move higher near the end of the trading day and prices finished the session trading up near 4.7%. This market did not close on the high of the day, but there was more news regarding the conflict in the Middle East that helped send the prices higher into the close. Prices were also trading in “oversold” territory on a daily chart, where prices have historically bounced back from over the past 5 years with positive price action. Crude remains a volatile market driven heavily on headline news and can be expected to remain in this territory for the time being.
While oil prices spike, the equities saw prices fall today, led by the Nasdaq which traded down by about 2% on the day, finishing slightly off of the daily lows. The selling mainly came from AI stocks that saw selling off today and the Dow remained the strongest market, only falling by a marginal amount. There is still a good amount of uncertainty, and now the FedWatch is indicating there could be interest rate hikes coming at the September or October meeting, which would be a big change of pace relative to the last 2 years of interest rate decisions.
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