Less Oil, More Unemployment

China, once again, sets the tone in the global economy. Yesterday they announced that they're going to raise oil caps, and as a result oil went down about $5 per barrel. This move helped Wall Street rise ahead of tomorrow's option expiration.

Unemployment, on the other hand, seems to be on the rise. 381 thousand new initial claims for unemployment have been filed, versus the expected 375 thousand rise. This number brings once again the fear of recession. The dollar responded with flat trading throughout the day, and Forex Funnel used it wisely.

Finally, tomorrow is the quarterly options expiration day on Wall Street. It is also the rebalancing day for some S&P indices. Watch out for high trading volumes and stocks that get "stuck" on a certain price.

Good luck with expiration,
Nadav

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