Oil posts the largest move as US stocks slip — Market update
WTI-led strength left oil well ahead of peers while the dollar, gold and US stocks showed mixed moves as of Oct 23, 20:00 UTC.
Where prices stand
According to Finnhub, the USO ETF (tracks WTI Crude Oil) rose 4.32% from the prior close to $169.53; the GLD ETF (tracks Gold) fell 0.65% from the prior close to $366.61; the SPY ETF (tracks S&P 500; its price is NOT the S&P 500 level) fell 0.52% from the prior close to $759.97; and the UUP ETF (tracks US Dollar Index) rose 0.21% from the prior close to $28.96, all as of Oct 23, 20:00 UTC.
| Instrument | Last | 5-session change | Latest change | As of | Source |
|---|---|---|---|---|---|
| S&P 500 (via SPY ETF) | $759.97 | -1.01% | -0.52% | Oct 23, 20:00 UTC | Finnhub |
| US Dollar Index (via UUP ETF) | $28.96 | -0.34% | +0.21% | Oct 23, 20:00 UTC | Finnhub |
| Gold (via GLD ETF) | $366.61 | -3.58% | -0.65% | Oct 23, 20:00 UTC | Finnhub |
| WTI Crude Oil (via USO ETF) | $169.53 | +13.10% | +4.32% | Oct 23, 20:00 UTC | Finnhub |
Trend check
Finnhub shows WTI Crude Oil as bullish with RSI(14) at 62.5. Its reported close of 107.89 sits above the 50-day SMA of 94.53 and the longer SMA of 86.42, levels presented here as reference points rather than forecasts. No other instruments in the signals list carried trend entries.
| Instrument | Close | SMA50 | Long SMA | RSI(14) | Trend status |
|---|---|---|---|---|---|
| WTI Crude Oil | 107.89 | 94.53 | 86.42 | 62.5 | bullish |
Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Oct 22, 22:40 UTC); it is not a recommendation.
In the news
Reuters reported US consumer sentiment near record low ahead of midterm elections. financefeeds.com published a Global FX Market Summary titled "Oil Shock, Safe-Haven Shifts & Central Bank Divides Shake Markets -23 October 2026." Forexlive reported the US is expected to remove 50% tariffs on some Canadian products as soon as today; Yahoo published "Elon Musk Expands Government Spending Footprint Ahead Of Midterm Elections."
- US consumer sentiment near record low ahead of midterm elections — Reuters, Oct 23, 14:20 UTC
- Global FX Market Summary: Oil Shock, Safe-Haven Shifts & Central Bank Divides Shake Markets -23 October 2026 — financefeeds.com, Oct 23, 18:06 UTC
- US expected to remove 50% tariffs on some Canadian products as soon as today - report — Forexlive, Oct 23, 17:55 UTC
- Elon Musk Expands Government Spending Footprint Ahead Of Midterm Elections — Yahoo, Oct 23, 16:50 UTC
Sources and data
- Reuters (secondary source) — US consumer sentiment near record low ahead of midterm elections
- financefeeds.com (secondary source) — Global FX Market Summary: Oil Shock, Safe-Haven Shifts & Central Bank Divides Shake Markets -23 October 2026
- Forexlive (secondary source) — US expected to remove 50% tariffs on some Canadian products as soon as today - report
- Yahoo (secondary source) — Elon Musk Expands Government Spending Footprint Ahead Of Midterm Elections
- 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
- Bank of England (primary source) — calendar
- U.S. Bureau of Labor Statistics (primary source) — calendar
Market data as of Oct 23, 20:00 UTC; report generated Oct 23, 20:10 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.
Terms in this article
Gold (XAU)
A precious metal held as a store of value, a hedge against currency debasement and a safe haven, as well as used in jewellery and industry.
Price-to-earnings ratio (P/E)
Share price divided by earnings per share.
Exchange-traded fund (ETF)
A fund that trades on a stock exchange like a share, usually tracking an index, sector, commodity or strategy.
WTI crude
West Texas Intermediate, a light, sweet (low-sulphur) US crude oil and the main US price benchmark.
S&P 500
A float-adjusted, market-cap-weighted index of about 500 leading US companies selected by a committee at S&P Dow Jones Indices.
Sources & data
- Reuters (secondary, retrieved Oct 23, 2026, 08:11 PM UTC)
- financefeeds.com (secondary, retrieved Oct 23, 2026, 08:11 PM UTC)
- Forexlive (secondary, retrieved Oct 23, 2026, 08:11 PM UTC)
- Yahoo (secondary, retrieved Oct 23, 2026, 08:11 PM UTC)
- Finnhub (market-data, retrieved Oct 23, 2026, 08:11 PM UTC)
- U.S. Treasury and Federal Reserve Board via FRED (primary, retrieved Oct 23, 2026, 08:11 PM UTC)
- Federal Reserve (primary, retrieved Oct 23, 2026, 08:11 PM UTC)
- U.S. Energy Information Administration via FRED (primary, retrieved Oct 23, 2026, 08:11 PM UTC)
- European Central Bank (euro reference rates) (primary, retrieved Oct 23, 2026, 08:11 PM UTC)
- Bank of England (primary, retrieved Oct 23, 2026, 08:11 PM UTC)
- U.S. Bureau of Labor Statistics (primary, retrieved Oct 23, 2026, 08:11 PM UTC)
Market data as of Oct 23, 2026, 08:00 PM UTC.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools, built only from the cited sources and validated by rules described in our methodology. Spot an error? Request a correction.
Ask about this story
Questions are answered only from this article and the sources it cites.
MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.
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