Thursday, January 11, 2007
Energy Worries
Stocks steadily gained ground after a rough open to close in the black. The Dow closed with an advance of 25.56 points to 12,442.16. The SPX added 2.74 points to finish at 1,414.85. We are still ok in green.
At the moment up is better than down for us so lets hope this continues.
Everybody was excited by Apple's new Iphone so this caused the tech sector to rise. Alcoa posted great results which helped the Dow.
Only blot on landscape was further drop in oil prices. Energy companies make up half of the SPX and this decline in oil held back the index. However this does need to be balanced with the fact that all companies that consume a lot of oil (manufacturing and airlines companies) will benefit from the drop in prices.
Until next time.
At the moment up is better than down for us so lets hope this continues.
Everybody was excited by Apple's new Iphone so this caused the tech sector to rise. Alcoa posted great results which helped the Dow.
Only blot on landscape was further drop in oil prices. Energy companies make up half of the SPX and this decline in oil held back the index. However this does need to be balanced with the fact that all companies that consume a lot of oil (manufacturing and airlines companies) will benefit from the drop in prices.
Until next time.
# posted by Paul @ 4:38 AM 
