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Topic Title: Stocks Post Best Week of the Year Topic Summary: Fox News Burries the Story Off the Front Page News, So Much for Fair and Balanced Created On: 06/08/2012 03:09 PM Status: Post and Reply |
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06/08/2012 03:09 PM
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I guess good news isn't on the Fox agenda, story wasn't even mentioned on the front page.
FOX Business: The Power to Prosper On the heels of posting the worst weekly performance of 2012, the markets zoomed higher this week on hopes policymakers may be willing to take action to buoy ailing world economies. Today's Markets The Dow Jones Industrial Average rose 93 points, or 0.75%, to 12554, the S&P 500 rose 10.7 points, or 0.81%, to 1326 and the Nasdaq Composite jumped 27.4 points, or 0.97%, to 2858. For the week, the Dow jumped 3.6%, the S&P 500 gained 3.7% and the Nasdaq rallied 4%. With little in the way of economic data released this week, market participants have been focused on a stream of commentary from global central banks. However, much of the news has come as a disappointment. The European Central Bank and Bank of England both held off on making changes to their monetary policy, while commentary from Federal Reserve Chairman Ben Bernanke was interpreted as suggesting the central bank isn't quite ready to unleash another round of easing. Still, traders remained hopeful that easing may be on the way in the near future. Meanwhile, China slashed its benchmark lending and deposit rates. This comes at a time when the economic backdrop is growing to be increasingly dim. The growth rate in U.S. and China appears to be slowing down, while Europe's woes continue deepening. Indeed, Spain, the fourth-largest eurozone economy, is planning on asking the European Union for help rescuing its banking sector this weekend, according to a report by Reuters, citing unnamed sources. A separate report from Dow Jones Newswires says high-level EU officials will be talking on a conference call this weekend. The U.S. trade deficit narrowed in April to $50.06 billion from $52.62 billion in March. Economists had been expecting the deficit to fall to $49.5 billion. Looking into the report, exports dipped 0.8%, while imports dropped 1.7%. While the report is a lagging indicator, the difference between the imports and exports figures directly into broader gauges of second-quarter economic growth. The bigger the deficit, the more it detracts from gross domestic product. Commodities were mixed. The benchmark crude oil contract traded in New York slipped 72 cents, or 0.85%, to $84.10 a barrel. Wholesale New York Harbor gasoline rose 0.01% to $2.69 a gallon. In metals, gold climbed $3.40, or 0.21%, to $1,591 a troy ounce. http://www.foxbusiness.com/mar...-post-best-week-year/
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06/08/2012 03:16 PM
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Are you loading up on stocks? Don't miss out on next weeks big gains.
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06/08/2012 04:19 PM
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... Hey - oil is at $86.
Thanks, Obama. |
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06/08/2012 06:43 PM
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I was making good money betting on the results of Obamas next dumb moves, with his recent setbacks that is getting more difficult.
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06/08/2012 08:02 PM
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Nothing to do with Obama, just good old fashioned hard work from Americans and companies. Fracking and shale has really started hitting more of the markets lately. Also, high production of natural gas and propane.
KUALA LUMPUR (Reuters) - Oil prices will weaken more in the second half of 2012 as demand reacts to the slowing global economy and international political tensions ease, Royal Dutch Shell Chief Executive Peter Voser said on Tuesday. Brent crude dropped below $100 a barrel recently to a 16-month low as weak economic data from the United States and China added to ongoing worries about the euro zone crisis. http://uk.news.yahoo.com/shell-ceo-sees-oil-price-falling-more-2012-042237321--finance.html
Lately, though, WTI has been catching up on Brent, here's why: a new Seaway pipeline, moving oil from Cushing to the Gulf coast. Come April 2012, more of WTI crude oil would arrive in the Gulf coast. Initial estimate indicate 150,000 barrels of crude arriving in the Gulf coast every day (after regulatory approval), increasing to over 400,000 barrels per day by 2013. With the given evidence, looks like WTI is closing in on Brent http://www.oil-price.net/en/articles/wti-edging-on-brent-crude-oil.php
http://www.eia.gov/oog/info/twip/twip.asp
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06/08/2012 08:31 PM
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