The price of oil dropped below $126 due to a stronger dollar and after news of a regulatory probe into possible price manipulation added to trader caution. Oil's record-setting run this year has heightened concerns about inflation and consumer spending.ALSO: THE NYMEX HAS INCREASED MARGIN REQUIREMENTS ON OIL TRADES - WHICH WILL TAMP DOWN SPECULATION.
... Weaker oil helped European stocks gain ground on Friday, while Asian stocks rose, led by exporters in Japan, as fears of a deep U.S. recession receded.
"I think what's driving the market here are oil prices declining. Traders are unwinding this energy-commodity trade and beginning to put assets to work in other parts of the market, like technology and financials," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.
... Wall Street stocks rose on Thursday as a swift drop in oil soothed inflation fears, while an upward revision in a broad measure of U.S. economic growth suggested a recession may be avoided.
- THE BUBBLE IS OVER.
- ALSO NOTE: EACH NEW "BOUNCE" UP FOR OIL IS LOWER THAN THE PREVIOUS DAYS HIGH. MEANING: OIL IS DEFINITELY SEE-SAWING DOWN.
- TO ABOUT $80.
- BY AUGUST 1ST.
ALL THIS IS BAD NEWS FOR THE DEMS - THEIR KEY ISSUES ARE COLLAPSING:
WITH IRAQ GOING WELL, AND THE ECONOMY IMPROVING AFTER A SHORT SLOW-DOWN, THE GOP WILL BE IN GOOD SHAPE THIS FALL.