So much for decoupling from oil. Every time this market gets juiced and moves up, oil lines up like a bowling ball and knocks the pins down. No wonder that stock futures are hesitating to follow oil as it cruises back above $30 this morning.
If we’re going to get any break from dramatic moves this week, it’s going to likely come in the run-up to Friday’s big monthly jobs report, say analysts. Weaker numbers will “put more pressure on the Fed over the decision to raise rates in December and ask more questions about just whether we will get any more rate hikes this year,” says James Hughes, chief market analyst at GKFX.
