At 8:20 a.m. futures are modestly up, the dollar is up against the major world currencies, and the price of oil is way up. We are in a period of historic demand for oil. The downturn in oil demand through the recession is a thing of the past.
The investment journalists are again pointing to China as the source of today's investment hot points. China is booming as you know and the Chinese banks have agreed to not raise interest rates for the time being. This is good investor news.
CNN: Stocks poised for timid open
...China's central bank held off on raising interest rates.
No major economic reports are scheduled to be released Monday.
Oil for January delivery gained $1.11 cents to $88.90 a barrel.
3 comments:
My Prius is worth more then when I bought it 3 mos. ago. The Oil oligarchs have decided enough with Mr. Hope and Change. They realize as do the rest of us that all they need to do to destroy any hope of a economic turnaround is to allow the price of gas to sky rocket again. This will kill the recovery dead and finish off Barry's short unhappy reign as King. Then they'll bring up Saint Sarah of Alaska as our next faux savior de jure.
I hope not, there's the hope.
Will it make any difference?
I am beginning to think it wouldn't make a bit of difference.
My pal who was the VP for OIL Exploration for Exxon ( retired ) basically told me this is their plan.
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