At-a-Glance
Today’s Top Highlights
Coming off of the long weekend, markets across asset classes are seeing a mix in price action. One standout for the day has been Crude Oil, which saw prices rise by about 2.8% and had a daily range of close to $4, which has been close to the daily average over the last few trading days. This market is still dominated by headline risk and the current conflict in the Middle East, and the risk has come on both sides of escalation and de-escalation, and that is likely to continue. With that said, the market has been trending higher since the lows in July rising almost $30/barrel, and the market is now entering “overbought” territory on a daily relative strength reading. The last time this market was in this territory, the prices ended up falling by over $20 in a matter of 2 weeks, so traders will be watching these levels carefully.
Outside of the Oil market, the equities and precious metals saw broad selling pressure today after the weekend. The S&P, Nasdaq, Russell and Dow all traded lower with the Dow leading the selling, trading down over 1% on the day. On the precious metals side, Gold led the selling as it traded down about 1.7% on the day as the market is still trying to find its footing after trading into “overbought” territory as well. This week has a lighter slate of economic data, but will end the week with PPI and CPI, giving a look into the inflation story that has been front and center on many traders' minds over the last few years.
Explore Additional Market Commentary
Traders Resources
The information in the market commentaries have been obtained from sources believed to be reliable, but we do not guarantee its accuracy and expressly disclaim all liability. Neither the information nor any opinions expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts. The information on this site compiled by CME Group is for general purposes only. All information and data herein is provided as-is. Additionally, all examples on this site are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. CME Group assumes no responsibility for any errors or omissions. CME Group, its affiliates and any third party information and content providers expressly disclaim all liability with respect to the information and data contained herein including without limitation, any liability with respect to the accuracy or completeness of any data. You use the data herein solely at your own risk. All data and information provided herein is not intended for trading purposes or for trading advice. All matters pertaining to rules and specifications herein are made subject to and superseded by official CME, CBOT, NYMEX and COMEX rules. Current rules should be consulted in all cases concerning contract specifications.
Neither futures trading nor swaps trading are suitable for all investors, and each involves the risk of loss. Due to the leveraged nature of futures trading and swaps trading, it is possible to lose more than the amount deposited in a position. Therefore, traders should not deposit more funds than they can afford to lose without negatively affecting their lifestyles. A trader cannot expect to profit on each trade, and should only devote a small amount of their available funds to each trade. All references to options refer to options on futures.
Past performance is not necessarily indicative of future performance.
CME Group, the Globe Logo, Chicago Mercantile Exchange, Globex and CME are trademarks of Chicago Mercantile Exchange Inc. CBOT is the trademark of the Board of Trade of the City of Chicago, Inc. NYMEX is the trademark of the New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other marks are the property of their respective owners. Each of Chicago Mercantile Exchange Inc. (ARBN 103 432 391), The Board of Trade of the City of Chicago Inc (ARBN 110 594 459), the New York Mercantile Exchange Inc (ARBN 113 929 436) and Commodity Exchange, Inc. (ARBN 622 016 193) is a registered foreign company in Australia and holds an Australian market licence.
This site does not constitute a prospectus, product disclosure statement or legal advice, nor is it a recommendation to buy, sell or retain any specific investment or to utilise or refrain from utilising any particular service. Readers should consult their legal advisors for legal advice in connection with the matters covered on this site.
