EIA Data Lifts Oil And US Stocks – Opportunity To Buy SP500 Call Options
Oct, 26th 16:45
U.S stocks including SP500 index recovered from early losses after the Energy Information Administration stated that domestic crude supplies unexpectedly fell last week. The data was in contrast to reports from the API that had reported an increase in stocks.
Crude prices that had dropped about 2% to as low as $48.85 per barrel, erased their losses, and provided a boost to stocks in the energy sector. At the time of writing, only three sectors of the SP500 index were trading in positive territory. Financials and Industrials were the two other segments that were trading higher.
Real estate led the list of losers, as the Census Bureau reported a housing market that was struggling. New-home sales picked up in September with 593,000 homes added, but August’s reading was revised downwards to 575,000 after being initially reported at 609,000. Despite rising demand, builders are having difficulties in hiring affordable labor, which has caused a stagnation in construction activity.
Sp500 Trade suggestion
Buy Digital Call Option from 2144.00 to 2148.00 valid until 20:00 GMT October 26, 2016