What's going on with the oil sector?
Matthew Cheslock, equity trader at Virtu Financial, weighed in on the oil sector.
"I think one thing that we're going to start looking at is oil. Oil has turned. You know everyone got a little bit bearish when it broke through 50 and it went toward 45 and WTI. Now it's had you know six or seven straight up days here back above 50 dollars," said Cheslock. "I think that's probably finding its sweet spot after we had Saudi Arabia coming out and having more cuts than expected. That should provide a little bit of tailwind for oil at least in the short term. We haven't even gotten any cold weather here in the U.S. and if that changes you know you could see oil move a little bit higher as well."
You can find more on oil over at TheStreet's sister site, Real Money:
- Trade Resolution Would Keep This Correction From Becoming a Crash: Market Recon
- Is This a Bull Trough or a Bear Peak? It Depends
Want to watch the full interview with Cheslock? You can find it here.