Oil Price Drag on Consumer Spending
Rising oil prices will pressure consumer spending on goods, further affecting S&P 500 earnings.
Too little corroboration in the last 3 days to call a trend (37 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"After shooting to $102 per barrel a day earlier, Brent crude fell 2.6%"
"Stocks fell under the pressure of rising oil prices, which raise costs for businesses and erode their customers' ability to spend."
"Stocks sank under the pressure of rising oil prices, which raise costs for many businesses and divert their customers' dollars away to pay higher prices for fuel."
"Energy price-sensitive travel stocks fell as higher oil prices stoked concerns over fuel costs and demand. United Airlines and Delta Air Lines both lost ground. Cruise operators also slipped, with Carnival and Norwegian Cruise Line both down."
"The S&P 500 snapped a nine-session winning streak on Wednesday as rising oil prices and Treasury yields pressured equities."
"Stock indexes are mixed, pressured by today's +6% rally in crude oil prices and the +6 bp rise in the 10-year T-note yield."
"The US stock market is experiencing a significant decline from its record highs on Friday, joining a worldwide drop for stocks in wake of higher oil prices."
"U.S. equities drifted lower into midday Tuesday with the S&P 500 and Nasdaq 100 easing from near record highs set earlier in the session, as a fresh surge in crude oil prices and rising Treasury yields tempered the April rally."
"The S&P 500 extended its losing streak on Monday, falling 0.39% to close at 6,343.72, as rising oil prices and weakness in technology stocks continued to pressure the broader market."
"This rise could potentially strangle consumer spending, and benchmark Treasury yields have reached their highest levels since last summer, potentially pressuring equity valuations."