The likely outcome will be supply cuts to crude production. The member countries of OPEC+ meet in Vienna tomorrow.

Yesterday, top oil stocks exploded on news that OPEC+ is considering a “historic” supply cut Let’s cover some of the top ones impacting your portfolio. But there are so many other stories happening in the news right now. This is important to watch, and we’ll keep you updated. That sentiment has markets surging as I write Tuesday morning.

Put it all together, and suddenly Wall Street is asking “did we just see the ‘break’ point? Is the Fed finally about to pivot? Is it time to go long?” Traders saw this and smelled blood in the water. Then, this morning, we learned that Australia’s central bank surprised forecasters by raising interest rates less than anticipated. yelling “Uncle! You’re about to break things, stop!” While not necessarily a “break,” that might as well be the U.N.

gilt (bond) market in which the Bank of England had to come to the rescue to prevent an economic implosion.ĭoesn’t that count as breaking something?Īnd then yesterday, the United Nations basically scolded Federal Reserve Chairman Jerome Powell, telling him to stop hiking rates because it’s leading to a global recession. Well, last week, we covered the meltdown in the U.K. If you’re a regular Digest reader, you’re familiar with the idea that “the Fed will hike rates until it breaks something, then it will turn dovish.” Is the elusive “Fed Pivot” finally on the verge of happening? Will the Fed buckle? … OPEC+ looks to cut production … historic pain in the bond market … watch out for too much inventory in Q3 … great news in the labor market

Oil prices market watch