Initial and continuing claims surge dramatically and Crude slammed to 12-year lows inflation-adjusted, so energy stocks rip and lift stocks magically...
h/t @NorthmanTrader
Energy stocks love new multi-year lows in oil...
Longer term...
And led the entire market higher today... but a late-day collapse in crude (which looked like forced liquidation) spoiled the party
Small Caps bounced hard into the close as Trannies won on the day
But all majors remain underwater on the week...
Gunmakers were briefly sold today, but that dip was ripped...GUNs Trump FANGs
FANGs not happy this week (but remember Cramer said "don't sell")
Credit markets notably decoupled...
Treasury yields inched higher today with the long-end outperforming (bear flatteners)...
The US Dollar drifted higher today but remains notably below ECB-fail day lows...CAD remains weakest (note the surge in AUD after last night's ridiculous jobs data)...
As Yuan keeps plunging...
Finally, commodities... Gold, silver, and copper tread water in the green as crude collapses post-OPEC...
And on the day crude tumbled early after the monthly OPEC report showed increase to fresh 3 year high output...
Now down dramatically post-OPEC...
Finally, we note that on an inflation-adjusted basis, WTI just hit a 12 year low...
Charts: Bloomberg