Today the focus was on the FOMC. – Click here..
U.S. crude oil inventories are down just over 1 million barrels for the week ended 12 August, according to the weekly American Petroleum Institute (API) report, but U.S. gasoline inventories are up over 2 million barrels in the biggest increase in six months. Cushing crude inventories were down 680,000 barrels. Earlier today, crude oil rallied to a one-month high, but slid back down following the release of the API data. West Texas Intermediate (WTI) for September delivery closed at US$46.58 on the New York Mercantile Exchange, but was down to…
Market Recap for Monday, August 15th, 2016 Stocks got off to a nice start this week. Rallying overnight, the major indices were higher at the open. And the buying continued throughout the morning session. There was a bit of a pullback in the afternoon, but it wasn’t enough to keep the major indices from ending the day with new all-time highs. At the end of day the S&P, DOW, and NASDAQ all had new records – a feat that has only happened twice since 1999. There were 2 key reasons stocks were higher: Crude Oil – Oil jumped almost 3% on the possibility of a production freeze. There’s always […]
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Market Recap for Sunday, August 14th, 2016 Last week looked like typical summer trading. Ranges were low, and we really didn’t have any major news moving the markets. In fact, the S&P’s 16 point range was the smallest weekly trading range of the year. And if you don’t pay much attention to ranges, 16 points is more common for a trading DAY than it is for an entire week! Things did get a little exciting on Thursday when the indices made records across the board. Closing at new records, it was the first time that the S&P, DOW, and NASDAQ all closed with record highs since 1999! After Thursday’s […]
It was a day for the record books! – Click here..
Stocks wobbled a bit on Wednesday. – Click here..
The post Looking at the markets today, you would never expect THIS… appeared first on Rockwell Trading.
Adding another shock to the already volatile market in contradiction of analyst expectations, the American Petroleum Institute (API) is reporting a significant increase today in its weekly U.S. crude inventory report of 2.09 million barrels, following a volatile day of trading. Markets will also be responding to the API’s report of a 3.9-million-barrel drop in gasoline stockpiles and a 1.5-million-barrel draw for distillates. Analysts are expecting that the Energy Information Administration (EIA) will report a 1.0-million-barrel drop in U.S.…