Oil leads market moves as of Nov 2, 16:16 UTC

Where prices stand

The USO ETF (tracks WTI Crude Oil; its price is NOT the WTI Crude Oil level) fell 5.80% from the prior close to $159.04. The GLD ETF (tracks Gold; its price is NOT the Gold level) rose 2.07% from the prior close to $363.13. The SPY ETF (tracks S&P 500; its price is NOT the S&P 500 level) rose 0.64% from the prior close to $760.57. The UUP ETF (tracks US Dollar Index; its price is NOT the US Dollar Index level) fell 0.07% from the prior close to $28.98. Times are as of Nov 2, 16:16 UTC (UUP as of Nov 2, 16:15 UTC).

Trend check

WTI Crude Oil is flagged bullish with RSI(14) 53.4; the close is 103.37, the 50-day SMA is 96.61 and the long SMA is 87.62. Signal counts show 1 total signal, 1 bullish and 0 bearish or neutral signals.

Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Nov 1, 22:41 UTC); it is not a recommendation.

In the news

Reuters reported “US voters in a sour economic mood heading into midterm elections” and also reported “Sectors bracing for a pivot as US midterm elections loom.” Yahoo published “Strategy's Michael Saylor Blames These 3 Factors for Bitcoin's Recent Sluggish Performance. The Most Important Is Treasury Yields.” Forexlive published “US election: The key races that could tip control of Congress.”

• US voters in a sour economic mood heading into midterm elections — Reuters, Nov 2, 11:40 UTC
• Sectors bracing for a pivot as US midterm elections loom — Reuters, Nov 2, 11:09 UTC
• Strategy's Michael Saylor Blames These 3 Factors for Bitcoin's Recent Sluggish Performance. The Most Important Is Treasury Yields. — Yahoo, Nov 2, 11:20 UTC
• US election: The key races that could tip control of Congress — Forexlive, Nov 2, 13:58 UTC

What to watch

The Job Openings and Labor Turnover Survey is scheduled Tue Nov 3, 15:00 UTC; International trade balance (BEA/Census) is scheduled Wed Nov 4 (time not confirmed); Weekly jobless claims (DOL) is scheduled Thu Nov 5 (time not confirmed); Bank of England rate decision and Monetary Policy Report is scheduled Thu Nov 5, 12:00 UTC; Productivity and Costs is scheduled Thu Nov 5, 13:30 UTC.

• Tue Nov 3, 15:00 UTC — Job Openings and Labor Turnover Survey (US) (source)
• Wed Nov 4 (time not confirmed) — International trade balance (BEA/Census) (US) (source)
• Thu Nov 5 (time not confirmed) — Weekly jobless claims (DOL) (US) (source)
• Thu Nov 5, 12:00 UTC — Bank of England rate decision and Monetary Policy Report (GB) (source)
• Thu Nov 5, 13:30 UTC — Productivity and Costs (US) (source)

Sources and data

• Reuters (secondary source) — US voters in a sour economic mood heading into midterm elections
• Yahoo (secondary source) — Strategy's Michael Saylor Blames These 3 Factors for Bitcoin's Recent Sluggish Performance. The Most Important Is Treasury Yields.
• Forexlive (secondary source) — US election: The key races that could tip control of Congress
• 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
• Bank of England (primary source) — calendar
• Federal Reserve (primary source) — calendar
• European Central Bank (euro reference rates) (primary source) — calendar

Market data as of Nov 2, 16:16 UTC; report generated Nov 2, 16:21 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.