Wednesday, January 24, 2007
Oil Up
Oil was up yesterday about 5% closing at $55 a barrel. The SPX was up 5.04 to 1,427.99. We are in the green and ok.
Stocks struggled in the early going in response to some mixed earnings, but the mood did improve as the session wore on, with a spike in oil prices lifting energy stocks - and hence by extension, the rest of the market.
However on the flip side, the jump in energy prices also put a little hesitation in the market, reviving some worries about inflationary pressures and dragging on airlines and other fuel-price sensitive sectors.
Markets (like life) are all about fear and greed and at the momement the bulls and the bears seem to be cancelling each other out. Lets see what happens today.
Until next time.
Stocks struggled in the early going in response to some mixed earnings, but the mood did improve as the session wore on, with a spike in oil prices lifting energy stocks - and hence by extension, the rest of the market.
However on the flip side, the jump in energy prices also put a little hesitation in the market, reviving some worries about inflationary pressures and dragging on airlines and other fuel-price sensitive sectors.
Markets (like life) are all about fear and greed and at the momement the bulls and the bears seem to be cancelling each other out. Lets see what happens today.
Until next time.
# posted by Paul @ 4:22 AM 
