9:10am (EST) Gold has toped the $1,000 an ounce level this morning as it is up $11 to $1,007. Futures are pointing towards a big open. Dow futures are up 80 to 9,497, S&P 500 futures are up 10 to 1,024 while Nasdaq 100 futures are up 14 to 1,650. Oil is
Gold Breaks Four Figures
Miday update…Ben Bernanke is speaking at noon today and the Dow is currently up 11 points to 7,412. It has been a choppy session as traders appear nervous about going long or short before the weekend. We aren’t getting to much news right now and it looks as though the
Weekly Wrap for 2/16/09
1. Commentary 2. Oil and Gold 3. Options Education 4. Credit Spreads 5. Current Trades 6. Earnings 7. Closing Thoughts ************************************************** 1. Commentary The market was under tremendous pressure last week and as the saying goes, pressure bursts pipes. Wall Street took a back seat to Washington as the stimulus
Schlumberger (SLB, $42.82, up $0.70) is trading higher as we head towards the closing bell. The stock has traded as high as $43.37 as the Dow is having a strong day. The 160-point gain to 8828 should put the Dow in positive territory for the month if the gains hold.
A Play On Oil
Oil is hovering around the $40-a-barrel mark and there seems to be some sentiment that it could be headed higher. Israel has said its attacks on Hamas in Gaza will not be complete until Hamas is completely eliminated. I’m not a big fan of the oil stocks because they can
Dow Breaks Losing Streak
The market managed to do a little something on Wednesday as Wall Street enjoyed the holiday and looks forward to 2009. After a slow start the Dow managed to pull out a gain of nearly 50 points on the strength of the financial stocks. The Dow’s close of 8468 represented
Market Fails to Hold Tremendous Gains
The market opened with a bang on Tuesday as Wall Street got excited that Hurricane Gustav did not cause any significant damage or oil-supply disruptions over the holiday weekend. However, by the end of the day the Dow gave up a 250-point gain and ended the session down 26 to
Gustav Weakens, Oil Drops
The stock market may have been closed Monday but that doesn’t mean there wasn’t some action in other markets. Hurricane Gustav was expected to have an impact on the market and oil either way but now that it has hit land and has weakened dramatically, it could be a blessing
Gold, Oil and the Dollar Oh My!
Wow. Just when it appeared gold was “off to see the wizard..” and was headed for $1,000 an ounce it is now trading for under $800 an ounce. The 20% drop has happened in just six weeks. On July 1, gold was going for $940. This morning, gold was trading
Could Oil Hit $200?
It’s hard to believe sometimes but I can remember when gas use to be under $2/ gallon. And it wasn’t that long ago. The fist time gas hit two bucks a gallon was in May 2004 (East Coast prices). Up until March of 2005 gas would hover around this mark