Will OPEC Shake Up Oil Prices Wednesday? - MMMK 093024

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September brought excitement as S&P, Nasdaq, Russell, and gold hit new highs, while Bitcoin broke out. However, the dollar index sold off, 10-year yields dropped, and crude oil plummeted, making the month volatile.

This week’s earnings calendar is light, with notable companies like Carnival, Nike, Paychex, McCormick, ConAgra, Levi's, and Constellation Brands reporting.

Oil traders face uncertainty as OPEC and JMMC meet Wednesday, which may impact production decisions and prices, alongside U.S. crude oil inventories.

Key economic data includes job-related reports starting with JOLTS Tuesday, ADP employment Wednesday, and non-farm payrolls and unemployment on Friday. The unemployment rate is expected to hold at 4.2%, but the market anticipates rate cuts totaling 125 basis points by year-end.

Overall, it’s a week filled with data, earnings, and market-moving events, requiring caution and protective stops.

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