Oil prices edged higher on Monday after a weak start, holding on to the past three months of gains, although patchy coronavirus vaccine rollouts, new infections and the discovery of new variants are keeping a lid on prices.
Ten moderate Republican U.S. senators urged President Joe Biden on Sunday to significantly downsize his sweeping $1.9 trillion COVID-19 relief package to win bipartisan support as Democrats in Congress prepared to push ahead with his plan this week.
Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp (NYSE:GME) and AMC Entertainment (NYSE:AMC) Holdings Inc is spreading to other assets.
Asian shares tried to rally on Monday as Wall Street continued to struggle with doubts about vaccine rollouts and economic recovery, while silver surged as newly empowered retail investors turned speculative eyes to precious metals.
If there is a negative correlation between markets, it means one of the
markets’ price will go up, while the other will likely drop. When you trade
each of these assets, you might succeed in any market, by avoiding the steep
climbs and large dips expected with a single market type. In the same way,
positively correlated markets could enable you to profit from both markets if
the price moves in the direction that you speculate.
➕ Industrials ➖ Financials ➖ Resources (in ranking order)