Granite Wealth Management

Granite Wealth in the News: Bruce Zaro Talks Oil, Volatility with Reuters

NEW YORK, Sept 28 (Reuters) – A global index of stocks bounced back after a nine-day losing streak on Thursday as oil prices fell and U.S. Treasury yields pulled back from their highest levels in 16 years.

Adding to respite for weary equity investors was a decline in the dollar from a 10-month high reached on Wednesday. Earlier on Thursday, 10-year U.S. Treasury yields touched their highest levels since 2007.

U.S. crude futures settled lower after briefly nudging up above $95 a barrel for the first time since August 2022. Oil prices had added more than 3% on Wednesday after data showed a big drop in U.S. crude stocks, raising concerns about a supply-side energy shock.

Investors have been focused on crude as a key inflation indicator. With crude falling, investors might feel it’s time to crawl out of the bunker and make some commitments to stocks,” said Bruce Zaro, managing director at Granite Wealth Management.

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