Stocks drifted lower for two days in a row (Monday and Tuesday) to 7,631, 2.0% lower than the 7,799 peak of August 13, in response to a staggering 15% increase in the international price of oil to $95 a barrel. This escalation represents a fast return of the pre-existing geopolitical premium of a Middle East war that won’t end because the players are unable to find a way out of the conflict…
A Macro Market View by Hubert Marleau
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