Tech stocks led Wall Street higher on merger talks in the semiconductor space. Treasury yields fell on disappointing growth data. The dollar pared losses, but traded lower against a basket of currencies and gold fell. Oil slumped as traders weighed the impact of an Iranian nuclear deal on supplies. I will extend the analysis on
Long trade EUR (initiating position) looking for short covering. The mental stop at the lows. Markets in Asia were mostly higher. Markets in Europe are mostly lower. Saudis say OPEC will not cut production unless everyone else cuts production. Since the U. S. is now a large producer and government mandated production cuts are not
The market finished 0.3% lower last week after going no where for the majority of the week. However, the market finished the month 5.5% higher. Last time we saw a monthly gain this high was in October 2011. This month we finally saw a stabilization in oil prices as they broke their weekly loosing streak.