Skip to main content

Market Overview

Monday's Market Minute: Indices Rally Back As Crude Stumbles

Share:
Monday's Market Minute: Indices Rally Back As Crude Stumbles

Looks like another big week for Wall Street with futures pointing to a positive open for stocks to begin the week.

Last night, President Trump and health officials reminded the country that there is a light at the end of the tunnel and we will get through this. As coronavirus lockdowns continue to take a toll on the global economy, the focus to begin the week will be energy products and news related to OPEC+ and their inability to agree on crude oil production cuts.

Last week, crude prices spiked from $19.27 (an 18-year low) to close the week out just shy of $30 on expectations that Russia and Saudi Arabia would come to terms and announce a cut. However, this morning the rollercoaster ride continues as crude has pulled back on reports that those talks have once again broken down.

In addition to crude and indices trying to rally off March lows, this week traders and investors will be watching the FOMC minutes, JOLTS, Consumer Sentiment, Jobless claims, and the Consumer Price Index for inflation data insights.

Stay dialed in on Gold, which bounced off the 50-day moving average last week and continues to hold just shy of the March high. Watch the TD Ameritrade Network for coverage of all the breaking news and the market reaction!