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The weekly ETF Scorecard covered Jerome Powell's nomination as Fed chair, the Fed's decision to hold rates at 1.25%, and GOP tax plan details. It also noted Brent crude reaching 2017 highs above $61 a barrel on expectations of extended OPEC output cuts.
Higher crude prices raise diesel and energy costs for feed mills and transport, while a firmer dollar expectation affects export competitiveness. The article is a broad market wrap with no single dominant driver.
etfdb.comSam BourgiNov 3, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Brent reaching 2017 highs above $61 on expectations of extended OPEC output cuts reflects the supply-side sentiment that fed the rally leading into the Nov 6 jump, though it predates the move and does not capture the weekend trigger.
