On the SPOT™ blog (09/05/2023) [B..]
- Salyl Bhagwat
- Sep 5, 2023
- 3 min read
Oil prices spiked this morning after Saudi Arabia announced that it will continue its existing production cut until the end of the year. Rising oil prices obviously makes Feds' job more difficult to control inflation. Factory orders declined less than estimated in July. Treasury yield rose as well this morning. These are perhaps the reasons why all three major US indices are in the red this morning (PST). Let's see if this September presents any promising buying opportunities.