The oil data is giving some support to the stock market, especially given the mixed company earnings that have been released in the past couple of days. Declines in oil prices are always positive for equities.
More Quotes from Edgar Peters:
Certainly seeing more merger and acquisition activity going on encourages people too because it's a signal to them that things are undervalued.Edgar Peters
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Some people are beginning to get concerned with the housing market. That is enough to put some pressure on home builders and home-improvement stocks.
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This is probably as good as it's going to get for the stock market any time soon. I don't believe the Fed is actually close to ending the rate hikes.
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Even though revenue is not growing as fast as profits, companies have been able to leverage what they have. Companies have been able to control costs and increase productivity.
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