Surging oil prices might account for some of the stock market’s sideways performance since early September, according to one Wall Street analyst, with crude knocking on the door of a level that traditionally starts to bite into economic activity.
“Such oil-price strength is likely a contributor to the rangebound nature of [the S&P 500] since the 9/2 high, along with plateauing earnings estimates, a more hawkish Fed and mixed public flows,” Emanuel wrote. Past slowdowns that followed oil-price spikes “have also been accompanied by increased equity market volatility albeit with medium-term small-cap outperformance,” he said, using the table below to illustrate how past crude-price jumps have affected equities in the past.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Americans' heating bills could surge this winter. What that means for utility stocksNew for subscribers: Americans' heating bills could surge this winter. What that means for utility stocks. Check out CNBCPro today. Pro Heating bills WILL SURGE this winter. JoeBidensAmerica
Source: CNBC - 🏆 12. / 72 Read more »
Column: Global oil market is tight, despite what producers say: KempGlobal petroleum inventories have fallen to their lowest seasonal level for seven years as producers have failed to raise output to match the rapid rebound in consumption since last year’s coronavirus-driven recession. expect oil prices to go up to $100 then to $150 per barrel.
Source: Reuters - 🏆 2. / 97 Read more »
From clean energy to health, Morgan Stanley picks India stocks set to see strong growthNew for subscribers: From clean energy to health, Morgan Stanley picks India stocks set to see strong growth. Check out CNBCPro today. Pro wow Pro For me adopting crypto currency has been smooth since I came in touch with 'Candice Stewart', she has been resourceful and going amazingly great. I make huge profit weekly off trading and top staking offers in the ecosystem, all thanks to CryptoStewart1
Source: CNBC - 🏆 12. / 72 Read more »