Friday, July 18, 2008
How Long Will This Last?
Stocks have now risen sharply for two days on a row. On Thursday the Dow gained 207.38 points to close the session at 11,446.66. The SPX added 14.96 points to end on 1,260.32. We, rather sensibly, decided to sit this month out.
Earnings news continued to provide support for stocks, but another sharp drop in crude prices also helped a lot. Oil fell more than $5 a barrel to a price of $129.29. Falling demand and concerns about a slowing economy are pushing prices lower for oil, which has fallen $16 in three sessions.
Not much else left to say really.
Until next time.
Earnings news continued to provide support for stocks, but another sharp drop in crude prices also helped a lot. Oil fell more than $5 a barrel to a price of $129.29. Falling demand and concerns about a slowing economy are pushing prices lower for oil, which has fallen $16 in three sessions.
Not much else left to say really.
Until next time.
# posted by Paul @ 7:14 AM 
