Reply To: Traders Market Weekly: Fed and BOJ Dribble Ahead

#74625
MoneyNeverSleeps
Participant

WTI crude oil futures ($74.29/bbl, -2.79, -3.6%) settled sharply lower in another manifestation of slowdown concerns, which could translate to weaker demand for oil.

This price action contributed to the selling in the S&P 500 energy sector.

It was the worst performing sector by a decent margin, dropping 2.6%. The utilities (-1.2%) and industrial (-1.3%) sectors were the next worst performers.

information technology sector (+1.0%) led the pack by a decent margin, followed by the health care sector (+0.7%).

There was some speculative buying activity in the meme stock space after “Roaring Kitty” posted a screenshot showing a big position in GameStop (GME 28.00, +4.86, +21.0%).