Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “Plus, investors shouldn’t attribute the recent stock market declines in October and November to oil. Their simultaneous declines are merely a coincidence.
“Crude oil and stock prices are not highly correlated at present, regardless of their similar declines,” wrote Nick Colas, co-founder of DataTrek Research in a note to clients Friday. “To our thinking, that’s good news. This means oil prices are more focused on industry-specific supply sentiment, while stocks are wrestling with interest rates and peak earnings chatter”….
Read the whole article here on Yahoo Finance!