Initial and continuing claims surge dramatically and Crude slammed to 12-year lows inflation-adjusted, so energy stocks rip and lift stocks magically...
h/t @NorthmanTrader
Energy stocks love new multi-year lows in oil...
[7]
Longer term...
[8]
And led the entire market higher today... but a late-day collapse in crude (which looked like forced liquidation) spoiled the party
[9]
Small Caps bounced hard into the close as Trannies won on the day
[10]
But all majors remain underwater on the week...
[11]
Gunmakers were briefly sold today, but that dip was ripped...GUNs Trump FANGs
[12]
FANGs not happy this week (but remember Cramer said "don't sell")
[13]
Credit markets notably decoupled...
[14]
Treasury yields inched higher today with the long-end outperforming (bear flatteners)...
[15]
The US Dollar drifted higher today but remains notably below ECB-fail day lows...CAD remains weakest (note the surge in AUD after last night's ridiculous jobs data)...
[16]
As Yuan keeps plunging...
[17]
Finally, commodities... Gold, silver, and copper tread water in the green as crude collapses post-OPEC...
[18]
And on the day crude tumbled early after the monthly OPEC report showed increase to fresh 3 year high output...
[19]
Now down dramatically post-OPEC...
[20]
Finally, we note that on an inflation-adjusted basis, WTI just hit a 12 year low...
[21]
Charts: Bloomberg