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New Equity Highs, Crude Gains Intensify: Wednesday's Market Forecast

Posted by TopstepTrader on November 01, 2017

In overnight trading, the recent trends continued: Crude Oil ($CLZ7) gained $0.60, the S&P 500 ($ESZ7) added nearly 10 points, and the Euro ($6EZ7) lost 40 pips. The only outlier is Gold ($GCZ7), which added almost $5 to trade above $1,275. 

However, at one point before the ADP Employment report at 7:15 AM CT, Gold was trading above $1,280. That report, which showed that businesses may have added 235,000 jobs in October, is the last indication of the strength of the economy heading into this afternoon's Federal Reserve decision and Friday's U.S. jobs report. Be sure to be careful if trading around either of those events. 

As markets move in advance of those two events, John Hoagland has all the levels and trades to look out for in today's market forecast.

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Topics: Market Updates

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