Oil's Creep and Broader Market Implications
Morning all. Watching crude pretty closely this morning. Seems like the recent upward drift in oil is starting to get a bit more traction, and while it's not a runaway train, the sustained move higher could start feeding into inflation narratives again, especially if it holds above the ~$85 mark for any length of time. We've seen how quickly the market can pivot on inflation fears, and it feels like the current consensus might be a bit complacent there. That said, the immediate reaction in equities seems somewhat muted today, but it's definitely something on my radar for potential second-order effects.
On the individual names, $PLTR is on my watchlist again today, currently down a bit at $155.91. It's been range-bound for a while after that big run, and I'm interested to see if it finds support around these levels or if the broader market's cautious tone might drag it lower. Volume looks pretty average so far. Not seeing any immediate catalysts, but it often moves with broader tech sentiment. Just trying to gauge if there's any fundamental shift or if it's just noise within its typical daily noise. Keeping an eye on the wider market's reaction to rising energy costs; could be a short-term headwind if that narrative gains steam.