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Low oil prices and stock market

Do low oil prices have a positive effect on the stock market?With crude oil today at 37.85 USD -5.30% stock market will react up or down?Well ok energy stocks maybe have a trouble but overall low oil prices mean less expenses for any company,industrial or not.And not forget that oil low prices may have this result,invest more money in other assets or financial markets like stocks or other commodities.Oversupply is not good news for oil prices but good news for consumers.

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