Whoever Edited this Clip About Biden Deserves Major Props...And Trump Certainly Noticed It
'ISIS Dry Run'? We Know How Two Jordanians Tried to Infiltrate a US...
'Wait, They Left': College Kids Stumped By Simple Questions About Israel and Hamas
Morehouse Might Cancel Graduation Ceremonies 'On the Spot' if This Happens During Biden's...
Colombian Illegal Alien Wanted for Homicide Captured in Massachusetts
Trump: Biden Will Be ‘Jacked Up’ During Debate
ICE Blames Biden Admin for Illegal Immigrant Murder
Trump Scores Huge Donation From Unexpected Group
Democrat Fraudster Begs Joe Biden to Pardon Her
CNN Analyst Shocked By Trump's Surge In Support Among Surprising Group
NYT Claims Justice Samuel Alito Sent 'Stop the Steal' Message Outside His Home
Why These Voters Say the Trump Trial Is Backfiring on Democrats
Trades Keep America Running, and We Need Them Now More Than Ever!
Sham Elections Garner Farcical 8 Percent Support in Iran
Heil Harvard!
OPINION

Losing Our Grip

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

Stocks settled off the lows of the session, but there isn’t any confidence out there. Thus far, the year has seen the market move sideways, but the carnage beneath the surface has been masked by big names. While the so-called “fear index,” Volatility Index (VIX), is up by 14%, it is actually lower for the year. Ironically, it is that kind of complacency that scares some market pros.

Advertisement

That being said, the market is losing its grip and it is uncertain where the next spark comes from.

The Scourge of Cheap Oil

What I find to be ironic is that the lower oil goes down, the market goes down as well. On Tuesday, crude was down more than 4% and it continues to get crushed. I was the first to say last year during the initial plunge in crude oil that cheaper gas would not translate into economic growth, but at these levels, even the folks who have stashed extra money in coffee cans will go out to spend a little.

From the stock market’s point of view, oil is having a different impact. And, I get that there are big name stocks that weigh on averages, but there should be a counter move in consumer discretionary names. Finally, airlines were higher, but we should see good news reflected deeper in the stock market.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos