This Is What to Watch Tuesday

A dash of earnings reports, wholesale trade and productivity and costs are highlights of Tuesday morning, as traders watch to see if oil could be a positive influence for stocks.

Stocks diverged from oil Monday, as crude rallied hard on news of an OPEC meeting in late September. OPEC confirmed it would meet on the sidelines of an energy conference in Algeria. Speculation circulated that the cartel would discuss production bands, though OPEC is not expected by analysts to do much more than study its options — unless oil plunges again.

West Texas Intermediate crude rose nearly 3 percent Monday to $43.02 per barrel, away from the danger zone of $40, which is viewed as a spot where oil becomes a real weight for stocks. Crude briefly entered a bear market last week, declining 20 percent from its recent high.

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.