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Oil has stocks on a slippery slope heading into the quarter-ending, holiday-shortened week.
Investors are focusing on crude right now as it continues a relentless march higher. The steady drumbeat of bad news from the financial-services and housing sectors hasn't helped, either.
"Markets are hanging on one issue: the price of oil," says Vinny Catalano, chief investment strategist at Blue Marble Research. Crude ended last week solidly above $140, and many people believe oil will have to break lower before stocks can make a good upward move.
Oil and oil-services companies such as Exxon Mobil(XOM Quote), ConocoPhillips(COP Quote) and Halliburton(HAL Quote) will also be focal points as long as the market is watching the energy sector. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
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