Drop in Oil Prices May Help Extend Wall Street Rebound
NEW YORK — A drop of 4 percent in crude oil prices this week could help Wall Street extend Friday's rebound, but upcoming inflation data may renew worries about the Federal Reserve's next move on interest rates.
A major U.S. economic report, the Consumer Price Index for August, will be released on Friday, along with August data on industrial production and capacity utilization.
Investors will watch those reports for clues on whether the Fed will keep rates steady at its meeting this month or resume its raising cycle. Retail data for August are also scheduled this week and could provide a better picture of back-to-school sales.
But crude oil's decline for five straight sessions last week, falling as low as $66 a barrel on Friday, could help stocks start the week on a positive note
story continued
A major U.S. economic report, the Consumer Price Index for August, will be released on Friday, along with August data on industrial production and capacity utilization.
Investors will watch those reports for clues on whether the Fed will keep rates steady at its meeting this month or resume its raising cycle. Retail data for August are also scheduled this week and could provide a better picture of back-to-school sales.
But crude oil's decline for five straight sessions last week, falling as low as $66 a barrel on Friday, could help stocks start the week on a positive note
story continued
posted by anthony m, at Sunday, September 10, 2006
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