"If it jumps back up to $140 (a barrel,) for the U.S. economy that is broadly negative. If it drops back to $40, it's a positive in the short term, since it's a tax break for consumers and businesses. The opposite is true when prices are going up," said Ryan Brecht, senior economist North America, Action Economics.
Asked at what price level the stock market would no longer be applauding crude's rise, Dan Greenhaus, chief economic strategist, Miller Tabak & Co. replied: "Well, last year we found out that around $100, the market took notice." (more)