Stock Market Live December 17: Venezuela Blockaded, S&P 500 (VOO) Rebounds

This nonfiction volition beryllium updated passim the day, truthful cheque backmost often for much regular updates.

The Vanguard S&P 500 ETF (NYSEMKT: VOO) closed down 0.2% connected Tuesday, its 3rd consecutive time of losses, aft the U.S. Bureau of Labor Statistics reported less occupation losses for October, and much jobs gained successful November -- but unemployment and underemployment some connected the rise. As Wednesday dawns, however, the marketplace seems poised for a turnaround and is up 0.3% premarket.

What's moving the marketplace today? Well, yesterday's announcement by the Trump Administration of a "total and complete" blockade against sanctioned lipid tankers attempting to sojourn oregon exit Venezuelan ports is surely a large part. Oilprice.com is reporting astir a 1.5% spike successful prices of some WTI crude lipid and Brent crude, the planetary benchmark.

WTI costs much than $56 a tube today, and Brent astir $60, and these prices could proceed to rise. CNBC reports that the blockade "could perchance interaction 0.4-0.5 cardinal barrels of lipid per day, lifting prices by $1-2 per barrel."

• President Trump announced a blockade of sanctioned lipid tankers making larboard successful Venezuela.

• China is revoking lithium mining permits, pushing prices of the achromatic metallic higher.

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In different news, Oracle (NYSE: ORCL) shares are nether unit this greeting aft The Financial Times reported that Blue Owl Capital volition not enactment a $10 cardinal woody for Oracle to physique a caller information halfway successful Michigan, successful enactment of Oracle's information processing declaration with OpenAI.

The AI bubble hasn't precisely popped yet, but it does look to beryllium seeing immoderate unit this morning, an Oracle shares are down 2% premarket.

Meanwhile successful China, a study that the authorities volition revoke mining permits for lithium is giving a assistance to shares of planetary lithium miners, connected worries astir a proviso crunch. Shares of Sociedad Química y Minera de Chile S.A. (NYSE: SQM) are up astir 5% this morning, and Albemarle (NYSE: ALB) is up astir 4% premarket.

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