Mixed performance across indices but Crude Oil falls again
|Stocks continue their see-saw week ahead of tomorrow's Fed decision, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
Stocks continue to drift ahead of Fed decision
The 48 hours before a Fed decision are rarely a good time to make short-term investment decisions. The week so far has been indecisive at best, but early trading in the US has seen some tentative buying. Trump’s decision to allow Nvidia to hawk its most sophisticated chips to China gave the stock a boost overnight, but that bounce is fading. Meanwhile Trump’s Fed pick Hassett has been banging the drum for the US economy, but it seems investors would rather focus on the existing Fed chair, at least until after tomorrow’s decision.
Crude oil prices fall again
Crude oil’s drift lower has been a key feature of the last six months. As the year’s end looms, it seems little has changed. Demand weakness and ample supply remains the story, and Friday’s bounce now feels like a long time ago. Crypto prices may have found their support level in recent weeks, but we may have to wait to find a similar point for oil until January.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.