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  • Market Insights Today: OPEC+ production cuts; Fed pivot expectations shatter – October 6, 2022

    From home.saxo

    U.S. stocks sold off in early trading after a solid ADP employment report and ISM Services Index which poured cold water onto the notion of Fed pivot. S&P500 managed to pare losses and settled 0.2% higher while Nasdaq 100 was down 0.1%. Volume was light partly because it was Yom Kippur, a Jewish holiday. Eight of the 11 sectors of the S&P 500 declined with the exception of energy, information technology, and healthcare. Energy stocks were helped by the news that OPEC+ agreed to cut production by two million barrels of crude oil a day. Exxon Mobil (XOM:xnys) and Halliburton (HAL:xnys) rose by 4% and Occidental ... (full story)

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