{"id":1250121,"date":"2026-03-30T11:16:06","date_gmt":"2026-03-30T08:16:06","guid":{"rendered":"https:\/\/www.etoro.com\/?p=1250121"},"modified":"2026-03-30T19:20:28","modified_gmt":"2026-03-30T16:20:28","slug":"oil-surges-back-to-100","status":"publish","type":"post","link":"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/the-daily-breakdown\/oil-surges-back-to-100\/","title":{"rendered":"Oil Surges Back to $100"},"content":{"rendered":"

The Daily Breakdown takes a closer technical look at oil, as it rebounds back to $100 a barrel. Meta’s skid continues.<\/p>\n

Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. <\/span><\/i>To keep getting our daily insights<\/i><\/b>, all you need to do is <\/span><\/i>log in<\/span><\/i><\/a> to your eToro account.<\/span><\/i><\/p>\n

What’s Happening?<\/b><\/h2>\n

Markets ended the week on a rough note, with the S&P 500<\/a> falling 1.7% on Friday and 3.4% from Wednesday\u2019s close. It also marked the fifth straight week in which the index finished lower on both Thursday and Friday \u2014 a notable risk-off signal that suggests investors are reluctant to carry exposure into the weekend. Taking a step back, the S&P 500 has now declined for five consecutive weeks and sits about 9% below its record high. The Nasdaq 100<\/a> is down nearly 12% and firmly in correction territory.<\/span><\/p>\n

\ud83d\udc40 Week Ahead \u2014 Short Trading Week<\/b><\/h4>\n

Despite the shortened week, the economic calendar is fairly busy and should offer an updated read on the US consumer and labor market. On Tuesday, the final day of March, investors will get the JOLTS report and consumer confidence data. Wednesday brings the retail sales report. Then on Friday morning, the monthly jobs report is due out, though the US stock market will be closed on April 3 for Good Friday and the Easter weekend.<\/span><\/p>\n

On the earnings front, Nike<\/a> stands out as one of the key reports, with results due Tuesday after the close.<\/span><\/p>\n

\u26a1 Crypto Corner<\/b><\/h4>\n

Crypto has had a rocky stretch as well, with Bitcoin<\/a> dropping nearly 7% between Thursday and Friday. A four-day slide briefly pushed BTC below $65,000 on Sunday, though it is up about 2.5% this morning as bulls try to regain momentum. Other cryptocurrencies are rebounding too, with Ethereum<\/a> climbing back above $2,000, while names like Lido<\/a> and Curve<\/a> are up about 6%.<\/span><\/p>\n

Want to receive these insights straight to your inbox?<\/strong><\/p>\n

Sign up here<\/a><\/p>\n

The Setup \u2014 Oil<\/b><\/h2>\n
\"Daily
Chart as of 8:00 a.m. ET. Source: eToro ProCharts, courtesy of TradingView.<\/em><\/figcaption><\/figure>\n

Oil<\/a> prices have now climbed for six straight weeks and are up almost 50% for the month of March. This morning\u2019s rally briefly sent oil back above $100, a key psychological level that has acted as resistance so far.\u00a0<\/span><\/p>\n

Higher oil prices have been beneficial to the energy sector \u2014 the <\/span>XLE<\/span><\/a> ETF \u2014 but a headwind for both foreign and domestic equities. The jump has also driven the <\/span>USO<\/span><\/a> ETF higher as well, as it tracks oil prices.\u00a0<\/span><\/p>\n

Both of these assets support options trading. Investors who are bullish could consider calls or call spreads as one way to speculate on further upside, while bearish investors could consider puts or put spreads to speculate on a further move to the downside. To learn more about options, consider visiting the <\/span>eToro Academy<\/span><\/a>.<\/span><\/p>\n

What Wall Street’s Watching<\/h2>\n

IWM<\/b><\/a><\/p>\n

Small caps are holding up better than investors might think. While the Russell 2000 is down about 10% from its highs, it has held up better than both the Dow and the Nasdaq 100. It was also the only major US index to finish last week in positive territory. <\/span>Check out the chart for the IWM ETF<\/span><\/a>.\u00a0<\/span><\/p>\n

META<\/b><\/a><\/p>\n

After rallying in late January following earnings, Meta stock has struggled, falling in seven of the past eight weeks. Over that stretch, the shares have dropped nearly 30% from their post-earnings high. After sliding 11.5% last week alone, Meta is now trading at its lowest level since April 2025, as investors weigh persistent bearish momentum against a cheaper valuation. <\/span>Check out the fundamentals for META<\/span><\/a>.<\/span><\/p>\n

Disclaimer:<\/i><\/b><\/p>\n

Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.<\/i><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

The Daily Breakdown takes a closer technical look at oil, as it rebounds back to $100 a barrel. Meta’s skid continues. Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. To keep getting our daily insights, all you need to do is log in to your eToro account.…<\/p>\n","protected":false},"author":130,"featured_media":819735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6894],"tags":[],"asset_type":[],"class_list":["post-1250121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-breakdown"],"acf":[],"yoast_head":"The Daily Breakdown: Oil Surges Back to $100<\/title>\n<meta name=\"description\" content=\"The Daily Breakdown takes a closer technical look at oil, as it rebounds back to $100 a barrel. 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