[Chart courtesy of MarketWatch.com] The major indexes opened under pressure and stayed there for most of the day, as oil prices kept surging on supply disruption fears from the ongoing U.S.-Iran war. West Texas Intermediate crude jumped 9% to around $95 a barrel, while Brent climbed 8% to roughly $100. Iran’s new Supreme Leader Mojtaba Khamenei (appointed March 9) doubled …
CPI In Line, Yields Rise – Mag 7 Holds Up, Metals Slide
[Chart courtesy of MarketWatch.com] The major indexes opened lower as traders kept one eye on the ongoing U.S.-Iran conflict and oil prices, which spiked early on worries about supply disruptions. The Dow was the biggest laggard, but the broader market got a lift later when the International Energy Agency announced it would release 400 million barrels from its reserves—the largest-ever …
Choppy Session Ends Flat As Oil Swings Keep Traders On Edge
[Chart courtesy of MarketWatch.com] Stocks pushed higher early on, even though trading stayed pretty choppy. The move built on yesterday’s big comeback as oil prices finally cooled off and traders kept a close watch on the escalating conflict with Iran. After a strong run, crude took a sharp dive today on expectations that several countries might tap their emergency oil …
Early Sell-Off Fades – Bulls Fight Back Amid Middle East Chaos
[Chart courtesy of MarketWatch.com] Stocks opened deep in the red as U.S. oil futures smashed through $100 a barrel (hitting over $119 overnight—the highest since 2022), sparking fresh fears of a stagflation scenario with rising inflation and slowing growth. The spike came after major Middle East producers slashed output due to the ongoing closure of the Strait of Hormuz. Kuwait …
Early Weakness Turns Ugly – Late Bounce Trims Losses
[Chart courtesy of MarketWatch.com] Stocks resumed their slide after yesterday’s brief breather, as fresh worries about the Iran conflict flared up again and sent oil prices surging. West Texas Intermediate crude futures topped $80 a barrel in the afternoon—the highest since July 2024—after Iran claimed it hit an oil tanker with a missile. Iranian Foreign Minister Abbas Araghchi added fuel …
From Yesterday’s Red To Today’s Bounce – Relief Rally Underway
[Chart courtesy of MarketWatch.com] The major indexes shook off yesterday’s volatility and opened strong, building on a broad rebound as traders focused on the latest U.S.-Israel-Iran developments while letting some of the growth-scare fears from last week fade into the background. Treasury Secretary Bessent said today the U.S. is gearing up for “a series of announcements” to keep oil flowing …