Nov 5 Market Update: SPY ETF fell 4.13%, oil and gold rose

Where prices stand

The biggest move was the SPY ETF, which fell 4.13% from the prior close to $735.17, followed by the USO ETF, which rose 1.44% from the prior close to $147.50. The GLD ETF rose 0.89% from the prior close to $375.81, while the UUP ETF rose 0.07% from the prior close to $28.92. Finnhub reported these prices as of Nov 5, 19:04 UTC.

Trend check

WTI Crude Oil is listed as neutral with RSI(14) 47.3; the last close was 99.64, the 50-day SMA was 98.25 and the long SMA was 88.71. Trend, RSI(14) and moving-average data were unavailable for the SPY ETF, the UUP ETF and the GLD ETF for this edition.

Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Nov 4, 22:41 UTC); it is not a recommendation.

In the news

The U.S. Commodity Futures Trading Commission posted "CFTC Staff Addresses Use of Trust Companies for Daily Settlements," according to the U.S. Commodity Futures Trading Commission. Reuters reported "Bank of England raises rates for first time since 2023, warns more likely." americanbanker.com and economictimes.indiatimes.com published pieces titled "Fed's Hammack says restrictive rates needed to cool inflation" and "Fed's Beth Hammack favors gradual rate-hike path to lower inflation," respectively.

• CFTC Staff Addresses Use of Trust Companies for Daily Settlements — U.S. Commodity Futures Trading Commission, Nov 5, 18:13 UTC
• Bank of England raises rates for first time since 2023, warns more likely — Reuters, Nov 5, 17:11 UTC
• Fed's Hammack says restrictive rates needed to cool inflation — americanbanker.com, Nov 5, 14:58 UTC
• Fed's Beth Hammack favors gradual rate-hike path to lower inflation — economictimes.indiatimes.com, Nov 5, 14:02 UTC

What to watch

The Employment Situation is scheduled for Fri Nov 6, 13:30 UTC, according to bls.

• Fri Nov 6, 13:30 UTC — Employment Situation (US) (source)

Sources and data

• U.S. Commodity Futures Trading Commission (primary source) — CFTC Staff Addresses Use of Trust Companies for Daily Settlements
• Reuters (secondary source) — Bank of England raises rates for first time since 2023, warns more likely
• americanbanker.com (secondary source) — Fed's Hammack says restrictive rates needed to cool inflation
• economictimes.indiatimes.com (secondary source) — Fed's Beth Hammack favors gradual rate-hike path to lower inflation
• Finnhub (market data) — market data
• U.S. Treasury and Federal Reserve Board via FRED (primary source) — Yields and dollar index
• U.S. Bureau of Labor Statistics (primary source) — calendar
• U.S. Energy Information Administration via FRED (primary source) — calendar
• Federal Reserve (primary source) — calendar
• Bank of England (primary source) — calendar
• European Central Bank (euro reference rates) (primary source) — calendar

Market data as of Nov 5, 19:04 UTC; report generated Nov 5, 19:11 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.