Market Pulse — Tuesday: Oil, Gas, Credit, Stocks & Real Estate Numbers

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This is Market Pulse — Tuesday's Numbers

Oil Markets
• WTI Crude: $55.80 per barrel (down 1.79%)
• Brent: $59.65 (down 1.50%)
• Oil prices hit multi-year lows as oversupply concerns dominate
• Market faces deteriorating demand outlook with growing surplus driven by OPEC Plus restoring output and rising production in U.S. and Brazil
• Weak Chinese economic data raised concerns about slowing energy demand from world's largest crude importer
• Progress in Russia-Ukraine peace negotiations reduced risk premium, as agreement could ease sanctions on Russian crude exports

Natural Gas Markets
• Henry Hub: $3.94 per million British thermal units (down 1.92%)
• Above-average temperatures forecast ahead of Christmas could curb heating demand
• Record production levels and ample storage supplies weigh on prices
• Natural gas expected to trade at $4.16 by quarter end

Credit Markets
• SOFR held at 3.67%
• 30-day average SOFR: 3.94%
• Federal funds rate remains at 3.50 to 3.75%
• Markets continue digesting Fed's projection of only one additional rate cut in 2026

Stock Markets
• S&P 500: fell 0.16% to 6,817
• Nasdaq Composite: declined 0.59% to 23,057
• Dow Jones Industrial Average: dropped 0.09% to 48,417
• AI stocks including Broadcom and Oracle pressured major indexes
• Concerns about profitability and financing of large-scale AI investments contributed to market jitters
• Investors await November's jobs report for labor market insights

Real Estate Markets
• Mortgage rates averaging 6.34% for 30-year fixed mortgages
• Industrial sector remains the most dynamic
• Multifamily Class A buildings averaged 5% cap rates
• Class B multifamily properties recorded 7% cap rates
• Office fundamentals remain challenged

Bottom Line
• Oil: Target sub-$50 breakevens, hedge floors above $75. WTI $55.80, Brent $59.65. Oversupply concerns, weak China data.
• Gas: $3.94. Warm weather forecast curbing demand.
• Credit: SOFR 3.67%.
• Stocks: S&P 500 6,817, Nasdaq 23,057, Dow 48,417. AI stocks pressured.
• Real Estate: Mortgage rates 6.34%. Industrial strong.

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