Morning Minutes

Oil Slips, Stocks Bounce Ahead of the Weekend




A quieter week for world markets is winding down today with moderate moves. Next week brings the end of the month and the quarter plus the fiscal year end for many companies in the investment industry so we may start to see more news and positioning.

In the absence of any notable news overnight, the mixed trend for world markets continues. The rebound in stock markets continues with US index futures up 0.2%-0.4% as stocks look to add to yesterday’s gains of 1.0% to 2.0% for US indices. European indices are also in the green this morning with the Dax up 1.0% and the FTSE up 0.3%.

Energy prices are backsliding this morning with WTI & Brent crude oil falling 2.6% and gasoline dropping 1.7%. Natural gas is up 1.3% amid talk of the US potentially providing some LNG supply to Europe in a bid to ease its energy dependency on Russia. Metals are down across the board today with platinum down 0.9%, copper down 0.6% and gold down 0.4%.

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Colin Cieszynski, Chief Market Strategist

Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428

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