After yet another volatile week of energy price fluctuations, it appears that crude oil is gearing up to play the role of stock-market cavalry. As sectors such as retailing and financial services struggle, the rebounding energy patch just might rescue investors.
GAP (GPS – Get Report) last week reported that comparable sales for March 2016 were down 6%, compared to a 2% increase last year. GAP shares plunged a staggering 13.84% on Friday and have declined nearly 20% over the past five days, presaging more troubles ahead for a slowing retailing sector. The retailer also warned that it started April with excess levels of inventory.
