One of the more effective factors in prompting algos to buy stocks is the price of oil. Yet, as we’ve been discussing, higher oil prices are a double-edged sword as they can drive inflation to levels which prompt uncomfortably high interest rates.
Thus, even though the latest 3-D chess moves out of the White House have driven oil prices 2.5% higher overnight, S&P 500 futures are off 10 points.
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