US equities continued to rally today as a misstep in energy prices eased market pressures.
The S&P 500 added 0.3% and the NASDAQ 100 gained 1% on last week's gains as strong gains and reports were strong enough to balance concerns about energy shortages and supply chain problems.
OPEC+ fell short of its production targets as Russia chose not to send more natural gas to Europe, driving up commodity prices. However, the drop in oil price from a session high allayed fears of inflation and political tightening.
The S&P 500 has now cut losses from its all-time high of 1.1%.
10-Year Treasury yields rose to 1.59% as UK yields rose after the BoE warned of the need to respond to price pressures. The dollar has barely changed. This week, 4,444 Fed members are expected to try to ease market jitters about future tightening. In addition, another week of corporate earnings will give traders a better understanding of the health of large companies.
Shares in Europe fell while those in Asia were mixed after data showed the Chinese economy slowed in the third quarter.
Bitcoin rose to $61,320 before the launch of the first exchange-traded futures fund. Gold fell 0.2%.
