Watch crude fall 40 bucks, and the euphoria spread through Wall Street, and everyone will be yelping that the commodity genie is back in the bottle.. Obama gets closer and closer to winning, thus bringing some dollar retracement.. Congress, needing to get back into double digit approval, will actually DO something...probably regulatory related... Most of the bank debacles baked into the cake (for now) and everyone knows and expects housing to languish... I said it before, and I'll say it again.. Spoo will be close to or at all time highs by years end... Remember..it will all be an illusion... and the real pain will come in the next 4 years...
its not just the oil / stocks relation... world wide economic slow down possibly on horizon..... finanacials not read to boom..... no finacials, no real rally rates go higher.... and... oil is not going down 40 pts..... no way
The markets has fallen so much they are nearly immune to negative economic data. It would take catastrophic news for the US markets to fall over 2% in a single day. No one cares about housing, recession, subprime, writedowns anymore.