Wednesday, October 27, 2021

Oil rallies to above $80 a barrel as Fed meeting ends

The markets didn’t do much today.

This is what I saw: Stock futures are pointing lower ahead of today’s market open following some surprisingly volatile trading yesterday.

I thought that Fed Chairwoman Janet Yellen didn’t come out swinging enough last night at her Fed news conference.

In my read, it’s just a matter of time before there’s a regime change in central banking.

Meanwhile, the dollar is gaining for the first time in three days. For more info on this morning’s trade, check out the Real Time with Larry Kudlow blog on this site.

Oil hovered above $80 per barrel this morning, pushing the CBOE’s crude oil speculation index up, while the Nasdaq Energy Select Sector Index fell.

But oil is only up about 1.5% so far today, so it’s only a small move.

Still, we’ve seen this action several times in the past few years when oil rises above $80, so traders are probably wary of this move.

Our markets news is probably overkill, so check out the rest of today’s stories for other key headlines.

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