[Chart courtesy of MarketWatch.com] Stocks spent most of the day on the defensive as higher oil prices kept inflation worries front and center. Escalating U.S.-Iran tensions pushed Brent crude back above $100 a barrel, and that was enough to keep traders reaching for the aspirin rather than the buy button. Adding to the pressure, the 10-year Treasury yield briefly climbed …
Oil, Inflation, And Geopolitics Send Stocks Searching For Answers
[Chart courtesy of MarketWatch.com] Stocks came out of the gate on the wrong foot and never really found their balance, as traders spent the day weighing escalating Middle East tensions against this week’s all-important inflation reports. Rising oil prices stole the spotlight, with crude extending its rally and reminding everyone that inflation may not be quite finished with us yet. …
Lower Yields Light A Fire Under Equities, Gold, And Crypto
[Chart courtesy of MarketWatch.com] The market finally found an excuse to smile today. Stocks rallied sharply as Treasury yields backed away from their recent highs after Fed Governor Waller suggested he’d be inclined to support holding rates steady, assuming upcoming inflation data doesn’t throw a curveball. That comment was enough to shift the mood on Wall Street. Rate hike expectations …
A Softer Dollar, Stronger Metals, And A Market Rebound
[Chart courtesy of MarketWatch.com] Treasury yields finally took a breather after their recent sprint to multiyear highs, and stocks were happy to take the invitation, with the S&P 500, Nasdaq, and Dow all snapping their three-day losing streaks. The bigger story hasn’t changed, though. Oil remains parked around the $90-mark, geopolitical tensions are keeping energy traders on edge, and the …
September Starts With A Hangover: Stocks, Gold, And Bitcoin All Slip
[Chart courtesy of MarketWatch.com] September got off to a rough start, with inflation concerns and a 6% jump in oil prices pushing bond yields higher around the world and putting pressure on nearly every asset class. The rising rate backdrop weighed heavily on tech, with names like Nvidia, AMD, Microsoft, and Alphabet leading the retreat. What really mattered today was …
Geopolitics Trips Up Stocks As Gold, Silver, And Bitcoin Shine
[Chart courtesy of MarketWatch.com] The market spent the final trading day of August looking over its shoulder as renewed hostilities between the U.S. and Iran rattled investors. Stocks moved lower, oil jumped about 3%, and rising long-term Treasury yields added another headwind for equities. Sometimes the market worries about one thing at a time. Today it generously chose two. That …