Global Market Comments for July 29, 20081) As crude dies, stocks fly. Oil down to $120.50, a new two month low. Alert! Alert! Regular gas at a bargain $3.99/gallon seen in the East bay! For $1 I'll tell you where.2) Merrill Lynch (MER) is raising a staggering $8.5 billion in new equity. The more they
Global Market Comments for July 28, 20081) Panic selling of stocks into the close as last week's short covering rally exhausts itself. Crude?s back up to $125 didn't help. Dow down 240.2) Fortune Brands (FO) reported Q2 net earnings down 41%. This hybrid company saw their alcoholic beverage sales hold up OK (Jim Beam, Ronrico
Global Market Comments for July 25, 20081) A new low for the move on crude, down to $122. All of the economic releases today came in better than expected. Stocks shrugged, bonds hated it.2) June durable goods came in at +0.8%. The market had been expecting Armageddon. This is a great example of how noisy
Global Market Comments for July 28, 20081) Panic selling of stocks into the close as last week's short covering rally exhausts itself. Crude?s back up to $125 didn't help. Dow down 240.2) Fortune Brands (FO) reported Q2 net earnings down 41%. This hybrid company saw their alcoholic beverage sales hold up OK (Jim Beam, Ronrico
Global Market Comments for July 25, 20081) A new low for the move on crude, down to $122. All of the economic releases today came in better than expected. Stocks shrugged, bonds hated it.2) June durable goods came in at +0.8%. The market had been expecting Armageddon. This is a great example of how noisy
Global Market Comments for July 24, 20081) A $3 pop in crude sent stocks down 200 points and bonds up a point. We are not out of the woods yet.2) Want to get rid of that barbed wire around your bicep, or your ex wife?s nickname? The tattoo removal business is booming, where laser treatments
Global Market Comments for July 24, 20081) A $3 pop in crude sent stocks down 200 points and bonds up a point. We are not out of the woods yet.2) Want to get rid of that barbed wire around your bicep, or your ex wife?s nickname? The tattoo removal business is booming, where laser treatments
Global Market Comments for July 23, 20081) Gasoline inventories fell a surprisingly large 2.8 million barrels as cancelled summer vacations leave the system awash in excess product. Crude fell $4 to $124. Prices at the pump could fall 20 to 30 cents/gallon in the next week. If you believe crude has finally peaked, buy the
Global Market Comments for July 23, 20081) Gasoline inventories fell a surprisingly large 2.8 million barrels as cancelled summer vacations leave the system awash in excess product. Crude fell $4 to $124. Prices at the pump could fall 20 to 30 cents/gallon in the next week. If you believe crude has finally peaked, buy the
Global Market Comments for July 22, 20081) Hurricane Dolly missed, so crude fell $4 to $126, while gas deflated $1 to $9.80. Bonds collapsed and stocks avoided a collapse.2) American Express (AMP) reported Q2 profits down 38% as the consumer spending slowdown hits, taking the stock down 15% to $36. High end customers are reducing