Consumer spending has been choppy over the past year in response to volatile petrol prices and a soft housing market. We believe that a recovery in consumer spending is now starting to take hold.
I believe oil majors are a real competitive force against investment banks, as the overlap in services being offered... in the energy sector becomes smaller and smaller.
The US dollar rose on Friday, with investors believing that a rise in the key core PCE deflator will keep the Federal Reserve poised to lift interest rates.