Anthony Prieto | Bloomberg | Getty ImagesCrude oil futures have gained about 4% this week, after China cut its benchmark lending rates and geopolitical tensions in the Middle East remain volatile.Though prices are rising this week, the supply-and-demand outlook looks bearish, even as Israel is still expected to retaliate against Iran for the Islamic Republic's Oct. 1 ballistic missile attack.
"The global battle against inflation is almost won," the agency said in its World Economic Outlook released Tuesday. 'If gold doesn't rally now, then I'm not sure when it ever will. Actually, I think the fundamental backdrop looks actually quite good," he told CNBC's"Squawk Box Europe" on Monday.The U.S. election is about two weeks away, and who winds up in the White House and in Congress could have an effect on key corners of the stock market, according to Bank of America.
With this in mind and with volatility expected to rise as the Nov. 5 election nears, Bank of America strategists say it is now a stock picker's market.CNBC Pro: Scotiabank says its 3 biotech 'top pick' stocks have more than 100% upside potential
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