USO ETF leads losses as GLD ETF rises

Where prices stand

As of Nov 2, 18:45 UTC the biggest move was the USO ETF, which tracks WTI Crude Oil, and fell 6.66% from the prior close to $157.59. The GLD ETF, which tracks Gold, rose 1.87% from the prior close to $362.45. The SPY ETF, which tracks the S&P 500, rose 0.24% from the prior close to $757.52. The UUP ETF, which tracks the US Dollar Index, fell 0.10% from the prior close to $28.97.

Trend check

WTI Crude Oil shows a bullish status with RSI(14) at 53.4 and a last close of 103.37 that sits above the 50-day SMA of 96.61 and the long SMA of 87.62. Trend, RSI and moving-average data were unavailable for the SPY ETF, the UUP ETF and the GLD ETF.

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 “Sectors bracing for a pivot as US midterm elections loom.” cnbc.com reported “Fed will vote on rates less often.” CNBC ran an item titled “Stock market after midterm elections: What S&P 500 history shows,” and Yahoo reported “Apple's Fiscal 2027 Earnings Face Downside Risks From Slower Growth, Oppenheimer Says.”

• Sectors bracing for a pivot as US midterm elections loom — Reuters, Nov 2, 17:17 UTC
• Fed will vote on rates less often. What that could mean for borrowers — cnbc.com, Nov 2, 17:03 UTC
• Stock market after midterm elections: What S&P 500 history shows — CNBC, Nov 2, 15:41 UTC
• Apple's Fiscal 2027 Earnings Face Downside Risks From Slower Growth, Oppenheimer Says — Yahoo, Nov 2, 17:07 UTC

What to watch

Watch the Job Openings and Labor Turnover Survey, which is scheduled Tue Nov 3, 15:00 UTC; the International trade balance (BEA/Census), which is scheduled Wed Nov 4 (time not confirmed); Weekly jobless claims (DOL), which are scheduled Thu Nov 5 (time not confirmed); the Bank of England rate decision and Monetary Policy Report, which is scheduled Thu Nov 5, 12:00 UTC; and Productivity and Costs, which 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) — Sectors bracing for a pivot as US midterm elections loom
• cnbc.com (secondary source) — Fed will vote on rates less often. What that could mean for borrowers
• CNBC (secondary source) — Stock market after midterm elections: What S&P 500 history shows
• Yahoo (secondary source) — Apple's Fiscal 2027 Earnings Face Downside Risks From Slower Growth, Oppenheimer Says
• 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, 18:45 UTC; report generated Nov 2, 18:50 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.