📈 SPX | 4,486 (+15, +0.3%)
📉 DJIA | 35,259 (-36, -0.1%)
📈 CCMP | 15,022 (+124, +0.8%)
🧐 The S&P500 is now -1.1% off of its all-time high, as oil retreated, slightly easing worries over inflation. A breakout earnings season will likely further ease those concerns, with heavyweights Netflix (today, post-market) and Tesla (tomorrow, post-market) reporting this week.
🏭 Commodity prices however look set to continue rising, as OPEC+ reported another failure to meet output targets yesterday, while Russia reportedly opted not to send more natural gas to Europe.
🛢 A failure of some OPEC+ members to invest money into oil exploration and production in earlier months looks likely to continue hindering the ability of OPEC+ to increase output, with appearing to be unable to scale their production to keep up with demand.