USA. The stock market is bouncing again. The S&P 500 Index is up 0.7%. The oil and gas sector is particularly positive today. More and more OPEC members deny plans to increase production. Also the fear of worsening epidemiological situation in China is weakening. An important day for the oil market is the expansion of Iran’s uranium enrichment program – a nuclear deal is becoming less and less likely. As a result, Brent is trading at $89 a barrel.
The positive trend in the U.S. market can also be explained historically. A bullish trend accompanies the market in the run-up to Thanksgiving. Since 1950, the market has rallied 68% of the time in the days leading up to the holiday. Statistics!