Crude oil prices could continue calling the shots this week as war remains front and center. Last Friday's disappointing jobs report raises new economic questions as CPI looms.
U.S. crude prices hit nearly $120 overnight before sinking back toward $100 and continue to drive equity and Treasury trading. Inflation data and Oracle are due later this week.
Crude oil futures (/CLJ26) rose sharply the past week as the Iran war has halted most of the transport of energy products through the Strait of Hormuz, which handles nearly 20% of the world’s oil shipments.
Though war news may continue to dominate, investors are also focused on Friday's February jobs report and yesterday's Broadcom results. Productivity and monthly layoff data loom.
Despite another late recovery attempt Tuesday, the market remains in largely negative straits as war keeps oil prices elevated. Broadcom reports later and ADP jobs data looms.
Find Market Commentary content
After Worst Week in Months, Oil's Influence is Key
Today's Options Market Update
Crude Tops $100, Sinking Stocks and Treasuries
Looking to the Futures
A Career in Investing: Kathy Jones' Parting Thoughts on the Markets
Weekly Trader's Outlook
Awaiting Key Jobs Data, Investors Monitor War News
Bears in Control as War Rages, Volatility Flares
War in Iran: Frequently Asked Questions