Big Oil, Big Money. | MarketTalk: What’s up today? | Swissquote

Show notes

We continue to see high volatility in the US sovereign papers near important psychological levels where investors are invited to decide what to do next.
A higher yield curve is not necessarily good news for the broader economy and stock valuations– unless the economy resists to higher rates.
The S&P500 extended losses below the 200-DMA yesterday and the index now approaches an important technical support, the 4180 level, the major 38.2% Fibonacci retracement on last year’s rally, and which should distinguish between the actual positive trend and a medium-term bearish reversal. Nasdaq 100, on the other hand, eked out a 0.30% gain yesterday in the run up to Microsoft and Alphabet earnings due after the bell today. Amazon is due to report on Thursday.
In the energy space, Chevron announced yesterday that it will buy Hess for $53 billion, or for $60bn including debt. Earlier this month, Exxon Mobil had announced to buy Pioneer Natural Resources for around $60bn to extend its Permian footprint. Oil retreated but upside risks prevail.
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