There was a lot of hope that we would see a break in oil.
The market is still very concerned about interest rates and is going to be extremely sensitive to any information that points to interest rates going higher.
It's a continuation of the rally we've had from earlier in the week, which was prompted by the release of the Fed notes. Today's lower-than-expected employment numbers have continued the rally.
Long-term interest rates are moving higher, which is eventually going to hamper the market. Although you've got oil down today, there were hopes that it would be sustained in the 50s, and that hasn't happened.
It looks like the tech rally has had a little hiccup. It will take markets lower tomorrow across the world.
The primary focus of the markets right now is when and if the Fed will stop raising interest rates, to the point that equities are rallying right now with crude oil almost at $65 a barrel.
Today we've got interest rates moving significantly lower and that's prompting a rally in equities. The productivity data was the main impetus.
The continued decline in crude -- that's probably the major reason why the market is rallying. It's a very easy way to look at how the market's viewing international tensions right now.
Copyright © 2024 Electric Goat Media. All Rights Reserved.