Jan 4, 2016

Crude Oil, Stock Markets Are Being Impacted By A Weaker Economy

The Transports were the weakest index of the year. I think they were down about 17 percent. in 2015. Now, that is the index that is the biggest beneficiary of lower oil prices. So clearly if the Transports were the weakest of the indexes, the weakness cannot be because of the cheap oil. It has got to be another reason. And again I think it has to do with the economy. Oil is being impacted by the weakness of the economy and so are economically sensitive stocks.

Related stocks: Union Pacific Corporation (UNP), FedEx Corporation (FDX), United Parcel Service, Inc. (UPS), Norfolk Southern Corp. (NSC), CSX Corporation (CSX)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

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