Traders Market Weekly: Squeeze Dynamics and Market Fragility

Viewing 14 posts - 46 through 59 (of 59 total)
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  • #68017
    Truman
    Participant

    WTI crude oil futures saw $73.90 at today’s low, but settled the session at $77.05, down just 0.7%.

    A report that OPEC+ is delaying its weekend meeting until November 30 triggered the initial sell-off as Bloomberg suggested the delay was due to Saudi Arabia’s dissatisfaction with the oil production levels of other members.

    The implication was that the other members have been overproducing. Prices likely rebounded on a sense that Saudi Arabia will aim to get that overproduction in check.

    • This reply was modified 4 months, 3 weeks ago by Truman.
    #68019

    Dow 35,273.03 184.74 0.53%
    S&P 500 4,556.62 18.43 0.41%
    Nasdaq 14,265.86 65.88 0.46%
    VIX 12.87 -0.48 -3.60%
    Gold 1,991.80 -9.80 -0.49%
    Oil 76.73 -1.04 -1.34%

    #68020
    #68021
    Truman
    Participant

    The gains were modest but ultimately underpinned by broad-based buying interest and a general lack of selling interest at the index level.

    Advancers led decliners by 9-to-5 margin at the NYSE and by a 13-to-8 margin at the Nasdaq.
    The Invesco S&P 500 Equal-Weight ETF (RSP) gained 0.5%, as did the Vanguard Mega-Cap Growth ETF (MGK).

    Deere (DE 370.74, -11.91, -3.1%), Guess? (GES 20.81, -2.91, -12.3%), Urban Outfitters (URBN 31.82, -4.49, -12.4%), Nordstrom (JWN 14.21, -0.69, -4.6%), and Autodesk (ADSK 202.66, -15.01, -6.9%) were some individual laggards of note following their earnings reports.

    Tesla (TSLA 234.21, -6.99, -2.9%), meanwhile, broke down below its 50-day moving average (237.99).

    #68022
    Truman
    Participant

    Every sector finished the session higher with the exception of the energy sector (-0.1%).

    Gains for the other sectors ranged from 0.1% to 0.9%.

    The energy sector trailed all day amid a roller-coaster session for oil prices, which traded as low as $73.90 per barrel before settling the session at $77.05 per barrel, down just 0.7%.

    A report that OPEC+ is delaying its weekend meeting until November 30 triggered the initial sell-off as Bloomberg suggested the delay was due to Saudi Arabia’s dissatisfaction with the oil production levels of other members.

    #68023
    Truman
    Participant

    After Hours
    Citizens Financial Serv. (CZFS) files mixed securities shelf offering
    Enanta Pharmaceuticals (ENTA) files for $150 mln mixed securities shelf offering
    Target (TGT) files mixed securities shelf offering

    #68024
    Truman
    Participant

    AerSale (ASLE) Vice Chairman Robert Nichols to retire

    Banc of California (BANC) and PacWest Bancorp (PACW) receive stockholder approval for proposed merger

    NaaS Technology (NAAS) announces termination of proposed Charge Amps acquisition

    New Mountain Finance (NMFC) announces appointment of Kris Corbett as CFO, effective November 27, 2023

    #68025
    Truman
    Participant

    TransAlta (TAC) and BHP Group Limited (BHP) announce commercial operation of innovative hybrid renewables facility to power remote mining operations in Western Australia

    #68026
    Truman
    Participant

    Nasdaq Composite: +36.3% YTD
    S&P 500: +18.7% YTD
    Dow Jones Industrial Average: +6.4% YTD
    S&P Midcap 400: +4.9% YTD
    Russell 2000: +1.9% YTD

    Happy Thanksgiving!

    #68027
    Truman
    Participant

    Stock market will be closed on Thursday and will end trading early at 1:00 p.m. ET on Friday.

    #68028
    Truman
    Participant

    Fair Value for Friday, November 23:

    S&P 500: 4,567
    Nasdaq 100: 16,050
    DJIA: 35,312

    #68029
    Truman
    Participant

    Air Lease (AL) delivers the first of 25 new Boeing 737-8 aircraft delivered to Malaysia Airlines Berhad from ALC’s order book with Boeing (BA)

    #68030
    Truman
    Participant

    Rio Tinto (RIO) reaches court approved settlement with SEC regarding 2017 suit over the disclosure of impairment of Rio Tinto Coal Mozambique in 2012 year-end accounts

    #67919

    Nov 26 – Dec 2, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Doing, OK
    [See the full post at: Traders Market Weekly: Squeeze Dynamics and Market Fragility]

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