China is back in the spotlight Monday, following a yuan devaluation and a cut in its reserve requirement – and one analyst said the world’s second largest economy will dominate markets this year, more so than low oil prices. ‘Oil can exacerbate the situation – at the moment, I think people are looking at it bottom up – how is it going to impact oil companies and banks, which are exposed to those sorts of credits?’ said Michael Ingram, a market strategist at BGC Partners, based in London. ‘At the end of the day, there’s general agreement that it’s positive news for the consumer.’ China concerns tanked global markets towards the start of 2016, but investors soon shifted focus to declining oil prices, which have been dictating stock prices in recent weeks. TheStreet’s Scott Gamm has details from Wall Street.
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