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Stocks Gain As Global Tension Eases

Jeremy Lutz - MarketClub

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Hello Traders everywhere. Stocks markets around the globe are posting gains today as the tensions between the U.S. and North Korea have eased a bit. The S&P 500 and NASDAQ are both posting 1% gains with the DOW trailing closely on their heels.

Concerns over a rise in OPEC crude production has pushed oil down little over 1% to 48.13, its lowest level in slightly over two weeks. Check out Robert Boselego's recent article on OPEC's production numbers and where he sees the price of oil heading.

Gold has retreated from its Friday high of 1298.10 and is currently trading lower for the day coming under pressure from a strengthening dollar.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.4, down about 20%. The index posted its largest weekly gain since December 2015 last week as the North Korea situation escalated.

Key levels to watch this week:
S&P 500 (CME:SP500): 2,490.87
Dow (INDEX:DJI): 21,496.13
NASDAQ (NASDAQ:COMP): 6,460.84
Gold (NYMEX:GC.Z17.E): 1,284.20
Crude Oil (NYMEX:CL.U17.E): 49.16
U.S. Dollar (NYBOT:DX.U17.E): 94.11

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