Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
Surging U.S. crude supplies, and OPEC's forecast of sharply lower demand for its output drove oil futures sharply lower, raising the stakes for $50 a barrel oil.
If there is a Santa rally this year, it may not be quite the smooth ride higher many expected for stocks just a few weeks ago, according to some strategists.
The Fed may have helped prime the stock market for a Santa rally, if oil remains calm and there are no new flare-ups overseas.
Oil stocks bounced, in their best day in three years.
Traders are watching to see if the Fed will lift the market's spirits, as investors fret over a new set of worries.
Oil's fall may continue to take center stage as investors weigh if the benefits of cheaper crude outweigh pain for producers.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC's Senior Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.