Sixty dollars for a barrel of oil seems to be the emotional threshold for investors. The stock market has enjoyed positive momentum over the last month and transportation stocks have lead the charge. All seemed to be a result of lower oil prices. With oil breaking through the $60 mark today, stocks are retreating. This and lower temperatures in the northeast could provide challenges for stocks as they attempt to extend their year-end rally. Energy exchange traded funds include Energy Select Sector SPDR (XLE) and iShares Dow Jones U.S. Energy (IYE).
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.