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This Is What to Watch Tuesday

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A dash of earnings reports, wholesale trade and productivity and costs are highlights of Tuesday morning, as traders watch to see if oil could be a positive influence for stocks.

Stocks diverged from oil Monday, as crude rallied hard on news of an OPEC meeting in late September. OPEC confirmed it would meet on the sidelines of an energy conference in Algeria. Speculation circulated that the cartel would discuss production bands, though OPEC is not expected by analysts to do much more than study its options — unless oil plunges again.

West Texas Intermediate crude rose nearly 3 percent Monday to $43.02 per barrel, away from the danger zone of $40, which is viewed as a spot where oil becomes a real weight for stocks. Crude briefly entered a bear market last week, declining 20 percent from its recent high.

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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