The Major Unknown.
The week and the month began with investors shifting their attention away from March's banking turmoil and back to the risk of a recession that could drag down consumer spending, thereby corporate profits and thereby stock prices. And the holiday-shortened week provided plenty for them to focus on.
Unexpected output cuts from the Organization of Petroleum Exporting Countries (OPEC, see EXPLAINER: FINANCIAL TERM OF THE WEEK below) were announced on Monday after oil prices dipped in March amid the banking stress and fears over the global economic outlook.
Unsurprisingly, oil prices and oil…
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