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The CNN Money Fear and Greed index showed improvement in market sentiment on Wednesday, while Dow Jones surged to a record high driven by strong earnings.
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Nine of 11 sectors are higher in Tuesday’s regular session, with defensive sectors holding two of the top three positions. The leaders are separated rather than clustered, with Utilities well ahead of the next group.
ConocoPhillips Chairman Ryan Lance stated that oil prices have a floor of around $70 per barrel, contradicting earlier bearish forecasts of $50. The Iran war has disrupted global oil supply, and it could take until 2028-2029 for demand to normalize. Higher oil prices benefit major oil companies through increased profits and free cash flow, though long-term geopolitical concerns about energy security could eventually pressure prices downward.
Eight sectors are higher and three are lower in Monday's regular session, with growth, cyclical and defensive sectors split across the top three positions. The leaders are separated rather than clustered.
https://www.reuters.com/business/energy/replenishing-crude-fuel-supplies-could-take-two-years-saudi-aramco-ceo-says-2026-10-05/
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