NYSE insider Jay Woods is watching these key levels on the S&P 500 and crude oil as U.S.-Iran conflict widens [CNBC]
Broadcom Inc. (AVGO)
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Source: CNBC
See the full discussion above.) This week is a big one to watch amid the the escalating U.S.-Iran war and ahead of earnings results and economic data that could provide key clues on the health of the American consumer, Jay Woods says. Woods, chief market strategist at Freedom Capital Markets, is looking to see how U.S. stocks and crude oil prices will be affected as U.S. combat operations against Iran continue, and as the Strait of Hormuz, a key maritime corridor for a fifth of the world's oil, remains shut. He says to watch if the price of crude climbs above $72 per barrel. “If that [crude level] escalates, we can see that go a little higher,” Woods said. “That puts the Fed behind the eight ball, because what is it? It's inflationary. It's a tax on the American consumer. So keep an eye on the price of crude right now. Not a major concern, but look for those energy spikes to continue over the next coming days.” More importantly, he said that the broader market could fall under
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