That’s because the correlation between crude oil and stocks has not been stable over time. For several decades prior to 2000, for example, that correlation was negative, as you can see in the chart below. During those decades, higher oil prices in a given month led to below-average stock-market returns in the subsequent month.

And Fed Chairman Jerome Powell kicks off his meeting with the Senate today. His prepared remarks state that the central bank is in no rush to lower rates. Rather, the Fed will take a wait-and-see position as tariffs are about to go into effect,

U.S. stocks climbed near their all-time high after oil prices eased further on hopes that Israel’s war with Iran will not damage the global flow of crude