A rally attempt may be sketching the bear's bottom. But Tesla, Netflix and Dow stocks are due, so investors best remain wary. Read More...
Investing.com
Oil Down 7% on Week as U.S. Inflation Simply Unyielding
The Federal Reserve’s one-step-forward-two-steps-back fight against inflation is costing oil more dearly than the market’s optimists would want to admit. Crude prices were down as much as 7% on the week, giving back about half of the past two weeks’ gains, after latest readings for U.S. retail sales and inflation showed the central bank was barely winning in its year-long battle against price pressures. “The global growth outlook remains a major downside risk, also,” Craig Erlam, analyst at online trading platform OANDA, said, pointing to new lockdowns in China, the world’s largest crude oil importer, which has been fighting COVID flare-ups after a week-long holiday.
