After oil coming up at US futures open on Sunday it gave a risk off sentiment and risk assets let stocks seen a sell off in the Asian session overnight then the buyers came in with US stocks in the afternoon to bring back the day with little changed in US stocks . Tomorrows the last trading day before the Federal reserves decision on borrowing costs so tomorrow there could scenario where there is last pricing in off that in tomorrows trade in a dxy up risk assets down with markets priced in around a 90 % chance off an interest rate on borrowing costs on the dollar
Global markets saw volatility as rising energy prices and AI sector concerns dominated. Wall Street slid, with the S&P 500 and NASDAQ falling. Yields surged across the bond market, with the 30-year mortgage rate reaching a near 2-year high.
Oil prices climbed over 2% following reported strikes on a Saudi pipeline and ships in the Middle East, while diesel hit record highs. Conversely, wheat futures fell on Black Sea conflict de-escalation hopes.
AI stocks plunged amid growing concerns and calls for an AI slowdown from industry leaders, though Trump dismissed fears. Nvidia and Broadcom tumbled, while software stocks like CrowdStrike and Palo Alto Networks saw some gains. Bitcoin also dipped below $79K, with ETFs losing significant capital.
The Fed is anticipated to hike rates this week after hot inflation data, strengthening the Greenback. Watch for central bank commentary and geopolitical developments impacting energy.