Financial Markets Remain Soft as Fed Fail to Ease Further

Crude oil prices rebounded yesterday but gains were pared as the FOMC meeting turned out to be a non-event. The front-month contract for WTI crude oil initially jumped to a 3-day high of 101.25 before settling at 100.14, up +2.42%, while the equivalent Brent crude contract soared to as high as 111.1 before ending the day at 109.5, up +2.09%. Gold remained weak with the benchmark Comex contract plunging to 1625.5, the lowest level since October 21, before bouncing back to 1663.1 at close. Stock markets also got hit with DJIA losing -0.55% and S&P 500 dropping -0.87% yesterday.

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Financial Markets Remain Soft as Fed Fail to Ease Further