Monday, February 26, 2007
Getting Nervous?
Stocks ended down on Friday with tensions in Iran and the Middle East causing concern. The SPX fell 5.19 points to 1,451.19. We are in the green.
Oil was the main story Friday with prices being quite volatile. The day finally ended with a gain of 19-cents to $61.14. We all know about the geopolitical concerns about Iran’s nuclear program and in the last week there have been attacks on oil workers in Nigeria. Supplies of crude remain above average, but a lot could happen in the Middle East that could cause oil prices to rise which the markets won't like.
This week we have a few economic reports with the GDP reading topping the bill. The other main reports are the Core Price Index and the Durable goods report. Again traders are looking for slow to moderate growth which will not give the Fed cause to raise rates.
Lets see what the week will bring.
Until next time.
Oil was the main story Friday with prices being quite volatile. The day finally ended with a gain of 19-cents to $61.14. We all know about the geopolitical concerns about Iran’s nuclear program and in the last week there have been attacks on oil workers in Nigeria. Supplies of crude remain above average, but a lot could happen in the Middle East that could cause oil prices to rise which the markets won't like.
This week we have a few economic reports with the GDP reading topping the bill. The other main reports are the Core Price Index and the Durable goods report. Again traders are looking for slow to moderate growth which will not give the Fed cause to raise rates.
Lets see what the week will bring.
Until next time.
# posted by Paul @ 5:48 AM 
