Stocks Are Ignoring Oil's Bear Market
- Correlation between crude and S&P 500 is lowest since January
- Energy shares are less than 6% of S&P 500, were 11% in 2014
The Stock Market Doesn't Seem to Care About Oil
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The bear market in crude in many ways resembles its more severe predecessors from 2014 and 2016: oil prices plummeting, non-U.S. producers floundering to keep supply at bay and concerns swirling around the impact of energy companies on high-yield bonds.
There’s just one exception. This time the stock market doesn’t seem to care.