Crude Oil +7.3% Tops the Week as S&P 500 -1.9% on the Week

Transcript

Crude oil surged 7.3 percent over the past seven days, closing the week at 99 dollars and two cents. Here is the scoreboard. The S&P 500 fell 1.89 percent this week. The Nasdaq dropped 4.06 percent. Bitcoin slipped 1.35 percent across the seven days. Gold retreated 0.85 percent. Crude oil gained 7.3 percent. In currency markets, the euro gained 0.32 percent against the dollar. Our winner of the week is NIGHT, which recorded an impressive seven-day gain of 54.96 percent. Our loser of the week is DOCN, tumbling 24.9 percent over the same seven-day stretch. The story of the week comes straight from the tape: VIX spikes as stock market pulls back, oil escalates, and tech slumps. Energy pressure and falling equities set the overall tone as investors absorbed rising commodity prices. Looking at the broader macroeconomic picture, official data shows the ten-year Treasury yield at 5.10 percent as of October 17. The ten-year two-year yield curve stood at positive 0.35 percentage points as of October 16. CPI inflation was recorded at 3.72 percent as of September 1. Turning to next week, the corporate earnings calendar brings several major releases. General Electric reports third-quarter results on Monday, October 19. Philip Morris and Netflix are scheduled to report on Tuesday, October 20. On Wednesday, October 21, Meta Platforms, Tesla, and Lam Research will report after the close. Procter and Gamble is scheduled for Thursday, October 22. Exxon Mobil follows on Friday, October 23. That was the week. See you next Saturday.