From yesterday’s headlines:
Stocks Climb As Oil Plunges
Wednesday May 31, 11:05 am ET
By Christopher Wang, AP Business Writer
Stocks Climb As Oil Plunges; Energy Market Welcomes Latest Move by U.S. in Iran Dispute
NEW YORK (AP) — Plunging oil prices pushed stocks sharply higher Wednesday as the United States’ latest move to settle the dispute over Iran’s nuclear arms program eased the energy market’s worries about a supply cutoff from the petroleum-rich nation. The pullback in crude oil helped calm inflation jitters as investors grew hopeful that the minutes from the latest Federal Reserve meeting would shed light on the outlook for interest rates. Traders have been scouring for clues on whether to expect higher lending rates after the Fed said in early May that more rates hikes could be needed to battle soaring energy prices.
A 1% drop in oil is a “plunge”? Huh?
How can you, Christopher Wang, know for sure that this oil “plunge” calmed “inflation jitters”? How did you determine that? Is that your opinion or some form of research you conducting in the last 24 hours? Yes, I am being sarcastic, but don’t you have any need to connect your words to some form of measurable reality?