Gasoline Rally Seen Fueling U.S. Stock Losses: Chart of the Day
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Gasoline prices have risen high enough to hurt stocks if history is any guide, according to Barry Knapp, head of U.S. equity strategy at Barclays Plc’s securities unit.
The CHART OF THE DAY tracks the relationship between the average retail price of unleaded gas and the ratio of price to estimated earnings for the Standard & Poor’s 500 Index. Knapp included a similar chart in a note to clients yesterday.