U.S. stock indices started trading on Monday, April 4, with mixed movement. While the Dow Jones index at the opening shows negative values at -0.4%, and the broad market index S&P500 is on the plus by a symbolic 0.15%, the Nasdaq is confidently gaining +0.95%.
Investors are assessing the prospects of recession in the U.S. watching the warning signals of the bond market, as well as rising oil prices amid the efforts of the Biden administration to reduce them.
Apparently, the positive investor sentiment appears to be based on statistical data. They show that April tends to be one of the best months for stocks. The U.S. stock market rose in April by an average of 2.41% over the past 20 years, CNBC quoted analysts from MCM Partners as saying.
Oil prices are rising against Biden’s wishes. Photo: Yandex
Despite the announced oil interventions of 180 million barrels over six months, oil prices are rising Monday. West Texas Intermediate futures are up more than 4%, trading above $103 a barrel. North Sea Brent is trying to keep up as well, +3.43%, with prices already approaching $108.
good old tradition
Every time Biden tries to change the architecture of the oil market using artificial methods, the market responds with an opposite effect. The last time a similar trend could be observed last fall when the release by the U.S. and its allies of 60 million barrels of oil led to yet another increase in the price of black gold.
Will Biden still fail to reduce the cost of motor fuel at U.S. gas stations and poor Americans will continue to buy gasoline at record prices.
On topic: The gasoline crisis in the U.S. dramatically changes the rhetoric of the State Department.