Stocks Fall as Oil Prices Hit a New High ($44.40)

Reuters ^ | August 5, 2004 | Michael Flaherty

[Mr. Jeeves]

Is it a rise in oil prices or a decline in the value of the dollar? Look closely...

[Doctor Stochastic]

The effects of a rise in oil prices extends over time. Price rises in things (other than gasoline) should come in the fall.

Or maybe, YUKOS will get permission to pump and this will all go away.

[boomop1]

$oro$ is determined to wreck our economy even if it costs him, the demented basta**.

[expat_panama]

The effects of a rise in oil prices extends over time.

Over say, 3 months, there's even less correlation between oil and stocks.   Maybe Yukos is more of a factor in that it's bad to see conflict between the Russian gov't and Russian businesses. 

Talk about business/gov't conflict, I'd bet the US election uncertainty is the worse news for the market.  My bet is that if GW goes up around 10 point in the polls we'll have a Dow over 12,000.

[Chode]

damn straight...

[RWR8189]

Lets look closely.

Over the past year the dollar has deprciated approximately 6.2% relative to the euro, and approximately 7.5% relative to the yen.

Oil futures have surged about 38% since last year.

[Doe Eyes]

America should begin oil drilling in Alaska and come up with alternative forms of energy so we won't have to depend on OPEC.

Heaven forbid we should use less.

[Gritty]

These high oil prices might stifle our rising economy and spell trouble in November.

Of course, there is not a scintilla of hope Kerry could change it all for the better.

[TheFrog]

I would take that wager, troops are already over taxed, and we are going to open another front, i don't think so. After we can get the troops out of Iraq perhaps.