After a shocking $135 per barrel oil price, oil price is now at less than $129 per barrel. A strong fall of oil price has pushed the ailing stock markets to recover, as it rallied today. The falling oil price and strong dollar boost the investors confidence to put shares on stocks as it recorded a strong gains Tuesday.
After a two-month rally off the March 17th lows and a nearly two-week selloff, stocks are basically pausing, he said.
"Investors are taking a cautious approach and are keeping an eye on any news about growth in the second quarter," King said. "We know growth was slow, but we don't know how slow. So stocks are going to react to any news on that, and on inflation, over the next few weeks."
