Market update: Oil leads moves as US stocks, dollar and gold finish the US day

Where prices stand

Finnhub shows the USO ETF, which tracks WTI Crude Oil, fell 1.62% from the prior close to $163.54, the largest move among the four, as of Oct 27, 18:00 UTC. The GLD ETF, which tracks Gold, rose 1.07% from the prior close to $371.75. The SPY ETF, which tracks the S&P 500, rose 0.56% from the prior close to $769.63. The UUP ETF, which tracks the US Dollar Index, rose 0.34% from the prior close to $29.11.

Trend check

Finnhub's trend signal lists WTI Crude Oil as bullish with RSI(14) 62.5; its close is 107.89, 50-day simple moving average is 94.53 and a longer-term simple moving average is 86.42. RSI and moving-average data for the SPY ETF, UUP ETF and GLD ETF were unavailable for this edition.

Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Oct 26, 22:41 UTC); it is not a recommendation.

In the news

The U.S. Commodity Futures Trading Commission published a press release titled "CFTC Sues to Block State Enforcement in Utah Amid Ongoing Efforts to Preserve Jurisdiction." Reuters published a poll piece headlined "High inflation to persist globally into next year, Reuters poll shows." Forexlive reported the US October Richmond Fed reading as "-2 vs -2 expected."

• CFTC Sues to Block State Enforcement in Utah Amid Ongoing Efforts to Preserve Jurisdiction — U.S. Commodity Futures Trading Commission, Oct 27, 12:58 UTC
• High inflation to persist globally into next year, Reuters poll shows — Reuters, Oct 27, 13:41 UTC
• US October Richmond Fed -2 vs -2 expected — Forexlive, Oct 27, 14:00 UTC
• Tesla's Q3 Per-Car Fiscal Metrics Show Minor but Important Progress — Yahoo, Oct 27, 15:36 UTC

What to watch

The FOMC rate decision is scheduled for Wed Oct 28, 18:00 UTC. The ECB monetary policy decision is scheduled for Thu Oct 29, 13:15 UTC. Personal income and outlays / PCE (BEA) and GDP (BEA) are scheduled for Thu Oct 29 (time not confirmed). The Employment Cost Index is scheduled for Fri Oct 30, 12:30 UTC.

• Wed Oct 28, 18:00 UTC — FOMC rate decision (US) (source)
• Thu Oct 29 (time not confirmed) — Weekly jobless claims (DOL) (US) (source)
• Thu Oct 29 (time not confirmed) — Personal income and outlays / PCE (BEA) (US) (source)
• Thu Oct 29 (time not confirmed) — GDP (BEA) (US) (source)
• Thu Oct 29, 13:15 UTC — ECB monetary policy decision (EU) (source)
• Fri Oct 30, 12:30 UTC — Employment Cost Index (US) (source)

Sources and data

• U.S. Commodity Futures Trading Commission (primary source) — CFTC Sues to Block State Enforcement in Utah Amid Ongoing Efforts to Preserve Jurisdiction
• Reuters (secondary source) — High inflation to persist globally into next year, Reuters poll shows
• Forexlive (secondary source) — US October Richmond Fed -2 vs -2 expected
• Yahoo (secondary source) — Tesla's Q3 Per-Car Fiscal Metrics Show Minor but Important Progress
• Finnhub (market data) — market data
• U.S. Treasury and Federal Reserve Board via FRED (primary source) — Yields and dollar index
• Federal Reserve (primary source) — calendar
• U.S. Energy Information Administration via FRED (primary source) — calendar
• European Central Bank (euro reference rates) (primary source) — calendar
• U.S. Bureau of Labor Statistics (primary source) — calendar
• Bank of England (primary source) — calendar

Market data as of Oct 27, 18:01 UTC; report generated Oct 27, 18:10 UTC. All times are UTC. Each table row shows its own timestamp and provider.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.