Former MSNBC Analyst Mark Halperin Throws Another Wet Blanket on Dems
We Have an Interesting Development About Kamala's Univision Town Hall Event
Democrats Are Hitting the Panic Button Early
Cowardice or Conviction: Why Christians Must Choose Trump to Uphold Biblical Principles
A Quick Bible Study Vol. 237: What the Bible Says About Truth -...
Co-opting Christ: Pressing Scripture Into Service of Our Political Agendas
Loving With Truth and Wisdom in a World Filled With Pain and Lies
Why Aren’t Christians Voting This Year?
Joe's 2024 Exit Results in Hunter Biden's 'Art' to Face Value Plunge
Republican Raises Concerns About Voting Access in Areas Hit By Hurricanes
How Trump's 'Operation Aurora' Will Save America
Glenn Youngkin Hit With Lawsuit by Biden-Harris DOJ Over Removing Noncitizens From Voter...
Walz Reveals the Harris Campaign's Solution for the Illegal Immigration Crisis
How CBS Weaves Race, Culture Into Every Story
Allred's Response to Cruz Daring to Call Him Out for Failing to Protect...
OPINION

Message From Commodities

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

Monday, the market finished the day higher even as it’s clear that Janet Yellen is wedded to the idea of rate hikes this year; maybe even in July or September. Apparently, investors are taking the Fed Chair at her word relying on ‘incoming’ data. Still, angst is reflected in the massive amount of blue chip stocks hitting new 52-week highs as investors are looking to get skin in the game with names they know.

Advertisement

The same is true for NASDAQ, which was driven higher by the same tech names that appeared to run out of gas earlier this year.

Market Breadth

NYSE

NASD

New Highs

176

90

New Lows

9

28

Advancers

68%

68%

Decliners

29%

29%

I love the action in the dirty fingernail stocks; I think crude oil breaking through $50.00 will result in a lot of stocks popping 20% or more. Due to crude oil reactions to violence in Nigeria, many nations that want to pump more don’t have the infrastructure to pump more; those shut-in rigs in North America won’t be automatically switched back on.

Key S&P Sectors

Day

YTD

Energy

+2.21%

+10.31%

Materials

+1.09%

+9.77%

Industrials

+0.95%

+5.62%

It’s not just crude oil, it’s commodities in general that are looking much better, and the general conclusion is that this isn’t a Chinese play-it’s a legitimate signal of improvement.

Advertisement

The most compelling ideas across this spectrum haven’t done anything fundamentally to make anyone rush in; by the same token, they are so cheap that it’s hard to ignore the upside potential. The Commodity Research Bureau (CRB) Index is technically in a bull market from a double bottom earlier in the year, and it has taken out a ton of key resistance points.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos