MAJOR FALL ON STOCK MARKET :On Tuesday after consumer inflation data came, Stocks slip down more worse than expected. Since after March 2023 The Dow Jones Industrial Average had faced its worst day for the stock market, but the index is still up for the year. The consumer price index climbed 3.1% year over year in January, according to data released Tuesday by the Bureau of Labor Statistics. That is down from the 3.4% pace set in December in stock market, which was a slight reacceleration from the previous month.
Since after 2023 It was the Biggest Drop, It Was Almost Worse day for stock market.
Stocks rallied from session lows in the final hour of trading on Tuesday but still wrapped up a dreadful Consumer Price Index day. The Dow Jones Industrial Average sank more than 520 points, or 1.4%, on Tuesday. The S&P 500 dropped 1.4%. The Nasdaq Composite fell 1.8%.
Extended Losing Streak of U.S. Natural Gas Futures
U.S. natural gas futures test fresh three-and-half-year lows with the market unconvinced that a cold snap at the weekend and into early next week will do much to counter the expected increase in surplus storage, particularly as U.S. production recovers to near record levels.
“Natural gas is plummeting to a level where many providers may be put out of business,” Phil Flynn of the Price Futures Group says in a report. “We think the bloodletting should be coming to an end, but a drop in temperatures could help bail some producers out.”
Geopolitical Risk, Supply Restraint Prolong Oil-Price Rally, Crude oil futures rise for a seventh consecutive session, supported by political risk in the Mideast and expectations of a near-term increase in demand.
With supply constraints from OPEC and Russia, the likely seasonal pickup in demand after Feb. 15, and geopolitical risk as the Israel-Hamas war shows no signs of a ceasefire, the upside for crude outweighs the downside, says Dennis Kissler of BOK Financial. FOR MORE INFORMATION CLICK…
