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.
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