Class CNBC Interview 12/8/22
December 8, 2022
Wall Street: the Dow Jones closes at equilibrium, Nasdaq and S&P down, the market remains tense
December 8, 2022US crude-oil prices climb 2.6% to $73.85 a barrel following an 11% decline over the previous four sessions that left prices at their lowest closing price of the year yesterday, at $72.01. Peter Cardillo at Spartan Capital says in a note that today’s rebound doesn’t pull the market out of its bearish technical structure, and says more 2022 lows might be coming. “In fact, we think the price could soon fall under $70 a barrel, with a near term trading objective of $68,” Cardillo adds. But some analysts are also alerting investors to the possibility of OPEC officials starting to jawbone about possible production cuts as a way to bring buyers back into the market.
