DOW down, Oil prices up

Since the DOW high on January 16th at 26,616, it’s dropped 2,703 points (as of this second). It’s down around 600 points today (intraday) but the day isn’t over.

Oil spiked up to $75 a barrel today (its highest since November 2014). It eased back down to $74.43 after the market heard that Trump said we were near an agreement with France regarding Iran.

This guy said…

"That’s something of a surprise to the market, " said John Kilduff, founding partner at energy hedge fund Again Capital. “We were more expectant of the harsh rhetoric he started with than that he would intimate there’s a deal.”

So, where do we go from here? I’m guessing that oil stays pretty high and the DOW continues to chop for awhile. Again, just guessing.

It’s truly amazing how easily a President can manipulate the market if he wants to. It’s why they should always be restricted from day/swing trading (along with their family).

Yahoo finance chart today says oil topped at 69.34. The stock market still needs a larger correction after such a big run up last year. The economy must be doing great if oil usage is up before the summer driving season. Perhaps, it’s also that we are selling more oil to Europe. Putin hates that…

Brent crude

Reuters article from today on the economy…

“U.S. consumer confidence, housing data highlight economy’s strength”

[https://www.reuters.com/article/us-usa-economy-housing/u-s-consumer-confidence-housing-data-highlight-economys-strength-idUSKBN1HV1U3]

Here’s another on the GDP.

“CBO Projects: GDP Headed To 15-Year High”

[https://www.cnsnews.com/news/article/terence-p-jeffrey/cbo-projects-gdp-headed-15-year-high]

Let’s hope it’s true…

Heard big drag today is CAT…lower profit forecast and 3M…higher cost in mfg due to uptick in raw material costs.

lets hope its not.

CBO is predicting 2.4 GDP in 2019 and 1.8 in 2020.

Yikes

did you even read the article?

Allan

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The DOW finished today pretty much where it finished on 11/29/17.

  • Average gas price one year ago: $2.34
  • Today: $2.81

at that rate in 3 more years it will be $4.22.

we do NOT need that.

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With the recent development today regarding Trump’s decision to withdraw from the Iran deal, we can expect a greater increase at a more rapid pace, unfortunately.

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ever notice its like Trump is trying to do everything in his power to ruin this economy but the economy just isnt having iit?

https://www.yahoo.com/news/trumps-iran-policy-hamper-tax-cuts-152952801.html

Energy and economic analysts at multiple banks have noted that a rise in oil and gas prices by $1 could wipe away any benefits bestowed by the tax cuts passed last year.

It’s a good time to finish rotating out my emergency generator fuel before prices go up even more.

Oil company stock prices should soar.