Occidental Petroleum Stock Forum

April CPI Shows Easing Inflation, U.S. Stocks Hit Record Highs
On Wednesday, May 15, the U.S. released its latest CPI data, which had garnered significant market attention. In Q1 this year, the rising CPI dampened hopes for substantial rate cuts, so the market eagerly awaited signs of easing inflation.
The April data met market expectations: CPI growth slowed, with a year-over-year increase of 3.4%, down slightly...

U.S. Stocks:
- Dow Jones: -0.1%
- S&P 500: -0.21%
- Nasdaq: -0.26%
Bond Market:
- By the end of the trading day, the yield on the U.S. 10-year Treasury was about 4.37%, up roughly 3 basis points for the day.
- The yield on the 2-year Treasury was about 4.80%, up nearly 8 basis points for the day.
Commodities:
- WTI June crude oil futures rose $0.60, or 0.76%, to $79.23 per barrel.
- Brent July crude oil futures rose $0.52, or 0.63%, to $83.27 per...

U.S. Stocks: The Dow Jones rose 0.88%, the S&P 500 climbed 1.17%, and the Nasdaq increased 1.4%.
Bonds: The yield on the 10-year U.S. Treasury note fell 8.19 basis points to 4.3575%. The two-year Treasury yield dropped 8.46 basis points to 4.7343%.
Commodities:
  - WTI June crude oil futures rose $0.61, or 0.79%, to $78.63 per barrel.
  - Brent July crude oil futures gained $0.37, or 0.45%, to $82.75 per barrel.
  - COMEX gold futures increased by 1.35% to $2391.80 per ounce.
  ...

15th May 2024 (Wed) Daily Outlook
Summary - What Is Happening In The Markets
US equity markets marched higher last night. Despite U.S Fed chair Jerome Powell highlighting that the PPI data was "mixed rather than hot", at the same time still maintaining the view that the U.S Fed will require more time to monitor inflationary trends. Equity futures dipped slightly before letting the bullish sentiment take over, following the shift to 'meme'-stocks like...