After Yesterday's Stock Rally Oil Pushes Back

December 30th, 2015 11:46 AM

Stocks experienced a rally yesterday and made an attempt to get back to positive gains for the year. Unfortunately, the rally was short lived due to once again unstable oil prices push stocks back down.

Bearish inventory data was released last night from the American Petroleum Institute as well as comments from a Saudi Oil Minister Ali Al-Naimi.

“We will satisfy the demand of our customers.”

"We no longer limit production. If there is demand, we will respond. We have the capacity to respond to demand.”

Oil is down 3.3% today (11:43 AM Mountain Time, 12/30/2015) and the end is still not in sight.

The drop in oil continues to pound big energy providers like Schlumberger and Conoco Phillips.

There is one more trading day this year and it’s not looking good for the DOW, S&P, and Oil. Oil will finish way down for the year.

The S&P could have pulled a small gain had the rally continued today but the closer we get to year end, the more it looks like they will finish down for the year.

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