Text Summary Of This Email
Site logo image
Forex Signals posted: "S&P 500 ends higher as oil stocks rally
(Reuters) - FXPremiere - The S&P 500 ended higher on Monday, lifted by energy stocks following surprise cuts to the OPEC+ group's oil output targets, while Tesla (NASDAQ:TSLA) tumbled after its electric v"
Telegram Forex Signals
S&P 500 ends higher as oil stocksrally
Forex Signals
Apr 4
S&P 500 ends higher as oil stocks rally
(Reuters) - FXPremiere - The S&P 500 ended higher on Monday, lifted by energy stocks following surprise cuts to the OPEC+ group's oil output targets, while Tesla (NASDAQ:TSLA) tumbled after its electric vehicle deliveries for the first quarter disappointed investors.
" data-image-caption="<p>https://www.exclusivecapital.solutions/fx-premiere-optin-new1677737696837</p>
" data-medium-file="https://www.fxpremiere.com/wp-content/uploads/2023/03/Volume-Indicators-In-Trading-For-Beginners.png?w=295" data-large-file="https://www.fxpremiere.com/wp-content/uploads/2023/03/Volume-Indicators-In-Trading-For-Beginners.png?w=580" class=" wp-image-49005 size-full" title="Volume Indicators In Trading For Beginners" src="https://www.fxpremiere.com/wp-content/uploads/2023/03/Volume-Indicators-In-Trading-For-Beginners.png" alt="Volume Indicators In Trading For Beginners" referrerpolicy="no-referrer" style="-ms-interpolation-mode: bicubic; max-width: 100%; margin-bottom: 24px; clear: both; display: block; margin: 0 auto; padding: 4px; background-color: white; border: 1px solid #ccc;">
Tesla Inc dropped 6.1% after disclosing March-quarter deliveries rose just 4% from the previous quarter, even after CEO Elon Musk slashed car prices in January to boost demand.
The S&P 500 energy sector index surged 4.9% after Saudi Arabia and other OPEC+ oil producers announced unexpected output cuts that could push oil prices toward $100 a barrel. Chevron Corp (NYSE:CVX), Exxon Mobil Corp (NYSE:XOM) and Occidental Petroleum Corp (NYSE:OXY) all rallied more than 4%.
However, the prospect of higher oil costs added to inflation worries on Wall Street just days after evidence of cooling prices raised expectations that the U.S. Federal Reserve might soon end its aggressive monetary tightening campaign.
"The decision to cut production is a headwind for inflation ... and that's why, on balance we're seeing a generally 'risk off' bias," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis.
FX Signals
The Dow was lifted in part by a 4.6% rally in UnitedHealth Group Inc (NYSE:UNH) on better-than-proposed Medicare Advantage rates for 2024.
Investors worried about inflation drew comfort from surveys by the Institute for Supply Management and S&P Global (NYSE:SPGI) that reflected weakness in manufacturing activity in March.
Interest rate futures imply 56% odds the Fed will raise rates by 25 basis points at its meeting in May, and 44% odds it will keep interest rates unchanged, according to CME Group's (NASDAQ:CME) Fedwatch tool.
The S&P 500 climbed 0.37% to end the session at 4,124.49 points.
The Nasdaq declined 0.27% to 12,189.45 points, while the Dow Jones Industrial Average rose 0.98% to 33,601.15 points.
Despite turbulence in the global banking sector, the S&P 500 jumped 7% in the first quarter and the tech-heavy Nasdaq rallied 17%.
First-quarter earnings season is around the corner, with big banks among the first to report in coming weeks and offer details about the sector's overall health after the March collapse of Silicon Valley Bank sparked a fears of a broader industry crisis.
Across the U.S. stock market, advancing stocks outnumbered falling ones by a 1.1-to-one ratio.
The S&P 500 posted 20 new highs and no new lows; the Nasdaq recorded 85 new highs and 121 new lows.
Volume on U.S. exchanges was relatively light, with 10.9 billion shares traded, compared with an average of 12.7 billion shares over the previous 20 sessions.
Free Forex Signals Telegram Channel|FX Signals Daily|Forex News Today|Forex Signals APP|Open Forex Account|Compare Forex Brokers|Forex Affiliates|Telegram Copy Trading|Best FX Indicator
" data-image-caption data-medium-file="https://www.fxpremiere.com/wp-content/uploads/free-forex-signals.png?w=300" data-large-file="https://www.fxpremiere.com/wp-content/uploads/free-forex-signals.png?w=553" class=" wp-image-44569 size-full jetpack-lazy-image jetpack-lazy-image--handled" title="free forex signals" src="https://i0.wp.com/www.fxpremiere.com/wp-content/uploads/free-forex-signals.png?resize=553%2C56&ssl=1" sizes="(max-width: 553px) 100vw, 553px" srcset="https://i0.wp.com/www.fxpremiere.com/wp-content/uploads/free-forex-signals.png?w=553&ssl=1 553w, https://i0.wp.com/www.fxpremiere.com/wp-content/uploads/free-forex-signals.png?resize=300%2C30&ssl=1 300w, https://i0.wp.com/www.fxpremiere.com/wp-content/uploads/free-forex-signals.png?resize=150%2C15&ssl=1 150w" alt="free forex signals" width="553" height="56" data-lazy-loaded="1" referrerpolicy="no-referrer" style="-ms-interpolation-mode: bicubic; max-width: 100%; margin-bottom: 24px; clear: both; display: block; margin: 0 auto; padding: 4px; background-color: white; border: 1px solid #ccc;">
" data-image-caption data-medium-file="https://www.fxpremiere.com/wp-content/uploads/vip-forex-signals.png?w=300" data-large-file="https://www.fxpremiere.com/wp-content/uploads/vip-forex-signals.png?w=551" class=" wp-image-44572 size-full jetpack-lazy-image jetpack-lazy-image--handled" title="vip forex signals" src="https://i0.wp.com/www.fxpremiere.com/wp-content/uploads/vip-forex-signals.png?resize=551%2C55&ssl=1" sizes="(max-width: 551px) 100vw, 551px" srcset="https://i0.wp.com/www.fxpremiere.com/wp-content/uploads/vip-forex-signals.png?w=551&ssl=1 551w, https://i0.wp.com/www.fxpremiere.com/wp-content/uploads/vip-forex-signals.png?resize=300%2C30&ssl=1 300w, https://i0.wp.com/www.fxpremiere.com/wp-content/uploads/vip-forex-signals.png?resize=150%2C15&ssl=1 150w" alt="vip forex signals" width="551" height="55" data-lazy-loaded="1" referrerpolicy="no-referrer" style="-ms-interpolation-mode: bicubic; max-width: 100%; margin-bottom: 24px; clear: both; display: block; margin: 0 auto; padding: 4px; background-color: white; border: 1px solid #ccc;">
Unsubscribe to no longer receive posts from Telegram Forex Signals.
Change your email settings at manage subscriptions.
Trouble clicking?
Copy and paste this URL into your browser:
https://www.fxpremiere.com/sp-500-ends-higher-as-oil-stocks-rally/
WordPress.com and Jetpack Logos
Get the Jetpack app to use Reader anywhere, anytime
Follow your favorite sites, save posts to read later, and get real-time notifications for likes and comments.
Download Jetpack on Google Play
Download Jetpack from the App Store
WordPress.com on Twitter
WordPress.com on Facebook
WordPress.com on Instagram
WordPress.com on YouTube
WordPress.com Logo and Wordmark title=
Learn how to build your website with our video tutorials on YouTube.
Automattic, Inc. - 60 29th St. #343, San Francisco, CA 94110