Market Snapshot: U.S. stocks look to build on oil, dollar-induced gains

Dollar surge, oil slide could provide needed fuel for August rally NEW YORK (MarketWatch) -- Stocks will attempt next week to build on strong gains, with an eye on economic, inflation and retail sales data that might further boost the dollar and pressure oil and commodities. The past week saw "a virtuous cycle playing out, with the dollar rally and oil sliding," said Alec Young, equity market strategist at Standard & Poor's. "We can tack on more gains next week, especially if we get good news on the economic front." Of particular interest will be the U.S. retail sales figures for July and weekly crude oil inventories data due out Wednesday. On Thursday, investors will key in on consumer price figures from both the U.S. and the eurozone. On Thursday, retailer Wal-Mart Stores is scheduled to report earnings. Stocks rallied... [read full story]