After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Tag - oil
Bloomberg reported that ‘the S&P 500 Energy Index has outperformed the broader S&P 500 by 21 percentage points so far this year'.
Organization of the Petroleum Exporting Countries (OPEC) is scheduled to meet on January 4.
OPEC-JMMC meetings will be hosted on Thursday, December 2 during the whole day.
After an extremely volatile week in the markets, traders await the next steps of the USD and stocks…
The Federal Reserve announced tapering of its monthly bond purchases…
The US dollar strengthening presses gold…
S&P 500 and Nasdaq are still near all-time highs, supported by robust corporate earnings. Gold keeps moving inside the ascending channel.
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
For the last several weeks gas was skyrocketing at an enormous pace. It has gained more than 17% from August 18. What is the reason for such moves?
The market sentiment is risk-off. Stocks are falling, while the safe-haven US dollar is edging higher. Meanwhile, oil advanced after the OPEC meeting.
Stocks dropped at the start of the week as investors are worried over rising costs, supply-chain issues, and inflationary pressures as they can slow down the economic growth.