Crude Oil is closing it’s Bear Trap as I stated this morning .
Update: WTI Crude Oil Closes Up More than 5% After Biden Says Discussing Attack on Iran’s Oil Sector
West Texas Intermediate (WTI) crude oil closed sharply higher on Thursday, climbing for a third-straight day after U.S. President Joe Biden said the United States and Israel are discussing an attack on Iran’s oil sector to retaliate for this week’s attack on Israel.
Both Israel and the United States said they plan to retaliate after Iran attacked Israel with 180 missiles.
Nvidia Shares Are Moving Higher: What’s Happening?
NVIDIA Corp. NVDA shares are climbing Thursday. On Wednesday, CEO Jensen Huang confirmed the company’s highly anticipated Blackwell chips are in full production.
The Details:
Huang appeared on CNBC’s Closing Bell Overtime on Wednesday and said Nvidia’s Blackwell chips are in production and in high-demand.
“Blackwell is in full production, Blackwell is as planned, and the demand for Blackwell is insane,” the Nvidia CEO said. “Everyone wants to have the most, and everyone wants to be first.”
TSLA: Tesla Stock Skids After Q3 Deliveries Narrowly Beat Mid-Range Expectations
Tesla shares drop 3.5%.
Company delivers 462,890 cars.
Growth is 515,000 units sold in Q4.
EV maker shipped 462,890 vehicles in the September quarter but failed to top the high-end of Wall Street’s expectations. Shares fell 3.5%.
Tesla stock TSLA skittered 3.5% Wednesday after a lackluster delivery number. The EV maker reported third-quarter deliveries of 462,890. It managed to hit above the mid-range consensus views of 462,000 but fell short of meeting the high-end calls for 469,828 vehicles. The Elon Musk-led company had issued its own guidance of 461,978 units shipped globally.
Wall Street was poised to open slightly lower on Thursday after a moderate rise in jobless claims sparked worries about the health of the labor market, while cautious investors kept an eye on the Middle East for any escalation in hostilities.
Indexes ease with U.S. jobs report ahead, Middle East in focus
Weekly jobless claims at 225,000
US service sector activity accelerates to 1-1/2-year high
East, Gulf coast workers’ strike enters third day
Indexes: Dow down 0.6%, S&P 500 off 0.38%, Nasdaq down 0.2%
Major U.S. stock indexes were lower on Thursday afternoon ahead of Friday’s monthly U.S. payrolls report and as investors kept a watchful eye on the growing conflict in Middle East.
according to Reuters
“Toronto stocks hit record high as Middle East conflict aids oil prices”
(Reuters) -Canada’s main stock index touched a record high on Wednesday, aided by a rise in energy and mining stocks as escalation of the conflict in the Middle East stoked fears of oil supply disruption.
The conflict has made investors averse to risk due to lack of clarity on how the scenario might evolve, with the escalation of crisis putting pressure on markets globally.
nb / but it does not always work as described above, so beware
At least for now the neural conditions and other metrics such as forwards have weathered the initial storm and are remaining sturdy on the buy side. The metrics often do not take root until enough participation volume clears through the market. Time will tell.
Volume ratios in stocks bolted uphill on the buy side into ticks dropping out of the gate and advance/decline ratio dropped sternly. So the volume shows buying into shares selling initially. Euro tends to move with the mood in stocks.
Among the holidays today which include National No Sugar Day, National Poetry Day, Bring Your Bible To School Day, and National Wide Awake Day, it is officially National Buy British Day. That certainly must support my earlier observation about some metrics and neural conditions being strong on the buy side of GbpUsd.
Some neural conditions show strength on the buy side in GbpUsd headed into the data. Not to say it won’t see selling along the way post-data but that is the condition.