Editor's Note: Matthew Kerkhoff is away for the rest of this week. Jon Strebler will be providing brief commentary today and Friday.
In these weeks of market indecision (up one week, down the next), it’s not surprising that US stock markets are trading a bit lower near the close today, their first down day in five sessions. Concern about fading strength in home sales (new homes down 14.5%) and higher oil prices are the day’s features, along with yet higher tensions in Ukraine. But we’re still doing much better than the European markets, which got hit harder based on higher oil prices and especially the perception that all-out war is looking more and more likely in Ukraine.
US markets aren’t much affected by the latter, and are more protected from higher oil prices, with supply gains here giving us the largest crude oil inventory on record. They (our stock markets) have ... Log in or subscribe to continue reading.
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