USO ETF fell 5.47% as GLD and SPY ETFs rose

Where prices stand

The USO ETF, which tracks WTI Crude Oil, fell 5.47% from the prior close to $159.60, as of Nov 2, 14:31 UTC. The GLD ETF, which tracks Gold, rose 1.69% from the prior close to $361.78. The SPY ETF, which tracks the S&P 500, rose 0.49% from the prior close to $759.42. The UUP ETF, which tracks the US Dollar Index, fell 0.24% from the prior close to $28.93. All prices are per Finnhub.

Trend check

WTI Crude Oil is flagged bullish with RSI(14) 53.4 and a last close of 103.37; its SMA50 is 96.61 and its long SMA is 87.62, per trend signals from Finnhub.

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

The European Central Bank published a speech headlined "Boris Vujčić: Integrated, open and resilient: Europe’s strengths in a fragmenting world" (European Central Bank). Reuters ran items titled "US voters in a sour economic mood heading into midterm elections" and "Sectors bracing for a pivot as US midterm elections loom" (Reuters). Yahoo published a Finnhub-sourced item headlined "Strategy's Michael Saylor Blames These 3 Factors for Bitcoin's Recent Sluggish Performance. The Most Important Is Treasury Yields." (Yahoo).

• Boris Vujčić: Integrated, open and resilient: Europe’s strengths in a fragmenting world — European Central Bank, Nov 2, 09:30 UTC
• 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

What to watch

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

• 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

• European Central Bank (primary source) — Boris Vujčić: Integrated, open and resilient: Europe’s strengths in a fragmenting world
• 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.
• 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

Market data as of Nov 2, 14:31 UTC; report generated Nov 2, 14:40 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.