Slide in oil prices set to fuel US stocks rally
THIS week, US stocks are likely to continue their record run as the traditional end-of-year rally gets an extra lift from a dramatic drop in petrol prices.
The national average price of petrol has fallen every day now for about a month-and-a-half to US$2.91 a gallon (3.8 litres) on Friday, according to AAA, the automobile association that provides roadside repairs and driving data. A few months ago, most Americans had reckoned that sub-US$3 gasoline was a piece of history.
Last week, Wal-Mart was the first major institution to state that its customers were likely to spend more on holiday items at i…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN
Europe: Stocks rebound after last week’s selloff, eyes on earnings and data
US: Stocks rebound to open big earnings week