Stocktwits Chart Art: October 01, 2024

STOCKTWITS CHART ART: OCTOBER 01, 2024
The Stocktwits Summary 📝

Stocks stumbled on their first day of the fourth quarter as tensions in the Middle East escalated with Iran launching missiles at Israel. That sent most risk assets to the downside, with oil prices catching a bid after several months of downside. 🌏

Here’s how the major indexes ended the day:

*The ST Sentiment Score & Message Volume scales range from 0 to 100 (extremely bearish to extremely bullish). More info here.

And here were Stocktwits’ top Trending symbols:

CHART OF THE DAY
$XOM Leads Energy Higher On Middle East Tensions 🛢️

After a several-month slump due to high production and economic worries weighing on demand projections, oil prices caught a bid after Iran launched missiles into Israel, further escalating the Middle East’s tensions.

Stocktwits users were quick to point to this as a catalyst for energy to finally find its footing, with @ivanhoff highlighting Exxon Mobile’s relative strength as it quickly approaches its all-time highs.

With many other energy stocks well off their highs, if this is truly the start of a broader move higher in the sector, many expect those stocks who have helped up the best to lead the charge…and $XOM is certainly among them. 📈

Bulls See A Basic Retest Occuring In Bonds 💵

The Trend Is Still Your Friend In Utility Stocks ⚡

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