Hello traders everywhere. After what felt like a small positive victory on Friday has quickly subsided after we woke up this morning to news of growing global tensions with Saudi Arabia and yet another sell-off in the tech sector, a falling dollar, and treasuries. The dollar is trading near a two-week low against its peers after U.S. retail sales disappointed in September. West Texas crude oil traded around $71 a barrel, less than a dollar away from issuing a red weekly Trade Triangle, amid tensions between Saudi Arabia and the U.S. over the disappearance of a prominent journalist and gold is headed toward its fourth advance in five days. The DOW was in positive territory for most of the morning trading above its 200-day moving average, the only index to do so, but has slipped into negative territory this afternoon. Both the S&P 500 and NASDAQ are both trading below their 200-day moving average after opening the week in negative territory. While the NASDAQ has already triggered a new red monthly Trade Triangle the S&P 500 is holding on at the moment, but that could change if it continues to trade below the 200-day MA. Key Events Coming Up This Week: APEC finance ministers meet in Port Moresby, Papua New Guinea. China's new yuan loans may have risen to 1.36 trillion yuan ($196 billion) in September from August's 1.28 trillion yuan as officials sought to buoy economic growth. On Tuesday, the consensus is for CPI to pick up to 2.5% growth and PPI to slow to 3.6%. Third-quarter GDP for China comes Friday, with headline growth forecast to slow to 6.6% year on year from 6.7%, in addition to last month's retail sales and factory output. Minutes from the Federal Reserve's latest policy meeting are due on Wednesday, with investors focused on projections for further interest rate rises. Goldman Sachs, Morgan Stanley, and Netflix are among companies reporting this week Euro-area governments, including Italy, must turn in fiscal budget proposals to the European Commission by midnight Monday Key Levels To Watch This Week: S&P 500 (CME:SP500): 2,940.91/2,698.95 Dow (INDEX:DJI): 26.951.81/24,077.56 NASDAQ (NASDAQ:COMP): 8,107.38 Gold (NYMEX:GC.Z18.E): 1,219.30 Crude Oil (NYMEX:CL.X18.E): 72.70/70.80 U.S. Dollar (NYBOT:DX.Z18.E): 93.41 Bitcoin (CME:BRTI): 6,729.51
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