Opinion

Business columnist April 16, 2026 — 3:30pm

Despite companies in Australia and around the world grappling with the financial damage inflicted on their businesses by higher oil prices, and consumers struggling under the burden of petrol pump pressure, the US sharemarket is in clover.

The disconnect between Wall Street and Main Street seems logic-defying.

Markets are deciphering Trump language. Bloomberg

The dominant US sharemarket index, the S&P500, is on the brink of capping a three-week winning streak despite the still-elevated oil price that six weeks ago sent it into a downward spiral.…