Yet more gains for Oil

Chris Beauchamp IG

Oil prices are continuing to surge on expectations of more geopolitical tension, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.

Rising Oil prices overshadow everything

Higher oil prices continue to turn the screw on the global economy, casting a long shadow over the outlook for the rest of the year and beyond. Every day seems to bring fresh reasons to be long oil, but also to worry about what will happen once fuel reserves begin to run dry. Markets usually enjoy a post-mid terms rally, but this seems much harder to accomplish when oil continues to rise.

Tech stocks gear up for earnings

Tonight’s tech earnings have the capability to drive continued gains for tech stocks even as oil prices rise, though it is going to be a tough sell. The market now spends its time worrying about spending levels among these heavyweights, but now it seems to worry about them spending both too much and too little. Caught between these two poles, tech CEOS find themselves having to chart a very tricky course tonight.

Author

Chris Beauchamp

Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.

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