Commodities knocked down but bounce back

Oil and metals are moving in lockstep as crude bounces back from its six-year low and industrial metals push higher. Oil has improved slightly after dipping down to mid-$30-barrel prices despite the constant U.S. stockpile increase and OPEC's above-expectation production numbers.

"Even though metals are still under pressure, recent orders of aluminum, iron and copper ore have beaten expectations. Furthermore as Chinese CPI continues to improve, oil and metals may begin to stabilize. Commodities remain a driving force in today's economy and are a strong indicator of both growth and recession", notes Voya Global.