Market update: USO ETF leads moves as SPY ETF rises

Where prices stand

The USO ETF (tracks WTI Crude Oil) fell 1.65% from the prior close to $166.73; it was the largest move among tracked markets. The SPY ETF (tracks S&P 500; its price is NOT the S&P 500 level) rose 0.79% from the prior close to $766.00. The GLD ETF (tracks Gold; its price is NOT the Gold level) rose 0.51% from the prior close to $368.49. The UUP ETF (tracks US Dollar Index; its price is NOT the US Dollar Index level) rose 0.14% from the prior close to $29.00. Prices are shown as of Oct 26, 18:00 UTC.

Trend check

WTI Crude Oil is listed as bullish with RSI(14) 62.5; the last close is 107.89, the 50-day SMA is 94.53 and the longSma is 86.42.

Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Oct 25, 22:40 UTC); it is not a recommendation.

In the news

The U.S. Commodity Futures Trading Commission reported a memorandum of understanding with the National Basketball Association. Yahoo published pieces on Bitcoin’s near-term tests and on equity futures rising pre-bell. Forexlive reported the US October Dallas Fed manufacturing index at 13.4 versus 9.8 prior.

• CFTC and National Basketball Association Sign MOU to Protect Integrity in Professional Basketball — U.S. Commodity Futures Trading Commission, Oct 26, 14:00 UTC
• $8 Trillion in Big Tech Earnings, Fed Decision and Inflation Data: Bitcoin's Next Big Test? — Yahoo, Oct 26, 15:32 UTC
• Update: US Equity Futures Rise Pre-Bell as Traders Assess Declining Oil Prices, Await Fed Rate Decision This Week — Yahoo, Oct 26, 13:02 UTC
• US October Dallas Fed manufacturing index 13.4 vs 9.8 prior — Forexlive, Oct 26, 14:32 UTC

What to watch

The FOMC rate decision is scheduled Wed Oct 28, 18:00 UTC; Personal income and outlays / PCE (BEA) is scheduled Thu Oct 29 (time not confirmed); GDP (BEA) is scheduled Thu Oct 29 (time not confirmed); the ECB monetary policy decision is scheduled Thu Oct 29, 13:15 UTC.

• Tue Oct 27 (time not confirmed) — Housing starts and permits (Census) (US) (source)
• 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)

Sources and data

• U.S. Commodity Futures Trading Commission (primary source) — CFTC and National Basketball Association Sign MOU to Protect Integrity in Professional Basketball
• Yahoo (secondary source) — $8 Trillion in Big Tech Earnings, Fed Decision and Inflation Data: Bitcoin's Next Big Test?
• Forexlive (secondary source) — US October Dallas Fed manufacturing index 13.4 vs 9.8 prior
• Finnhub (market data) — market data
• U.S. Treasury and Federal Reserve Board via FRED (primary source) — Yields and dollar index
• U.S. Energy Information Administration via FRED (primary source) — calendar
• Federal Reserve (primary source) — calendar
• European Central Bank (euro reference rates) (primary source) — calendar
• Bank of England (primary source) — calendar
• U.S. Bureau of Labor Statistics (primary source) — calendar

Market data as of Oct 26, 18:00 UTC; report generated Oct 26, 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.