Major averages were mixed yesterday as they stalled on light volume but remain above their 50-dmas.
Futures are slightly lower at the time of this writing. Oil prices rose once again, trading at their highest since 2014, as supply data released Wednesday showed an unexpected drop in U.S. crude stockpiles. An oil price rally has “lit a fire under resource stocks and commodity prices” after the Energy Information Administration said oil inventories fell by 1.1 million barrels, Accendo Markets said in a note Thursday. “Saudi Arabia added further kindling to demand for crude by indicating it would be happy for oil prices to reach as high as $80-100 a barrel, indicating that the voluntary OPEC+ supply cap is set to extend further,” wrote Accendo analysts.
Focus List Notes:
Netflix (NFLX) remains within buying range of Tuesday's buyable gap-up and base breakout. The 123.77 intraday low from Tuesday would serve as your selling guide.
Market Lab Report - Pre-Market Pulse for Thursday, April 19, 2018
| Published: | 19 Apr 2018 08:00 ET |
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