Crude oil hit another record high overnight, almost $106 a barrel!!!! Seems it doesn’t take much to make the market jittery these days. This happened on news of a bombing of a military recruiting center near Times Square and uncertainty as to what OPEC might do with production.
The US Dollar hit another low against the Euro as well. I guess we will be shipping cheaper goods overseas? But what can we ship out? US companies have already moved operations out of the US. I am amazed that anyone here even has a job. One of these days we will all work for Wal-Mart.
The financial markets are not looking so hot either, so I think the Dow and Nasdaq will close lower today and will close lower for the week again. Watch your piggy bank folks.
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Edited to add today's market closings:
Dow 12040.39 -214.60 -1.75%
Nasdaq 2222.50 -52.31 -2.3 %
S & P 500 1304.34 -29.36 -2.2%
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1 comment:
Hey Ron, Thanks for the tip. The S&P 500 is below 1300 today. Good time to buy. I listen to Bob Brinker on the weekends. Gives good advise about the stock market.
eileen
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