[Doctor Stochastic]

1602pm edt

Dow 9,963.03 -163.48 (-1.61%)
Nasdaq 1,821.63 -33.43 (-1.80%)
S&P 500 1,080.72 -17.91 (-1.63%)

Will the market break 9000 before the GOP convention?

[Citizen of the Savage Nation]

Anythings possible with this irrational market. That is a huge drop compared to 2 hrs ago. Given that this market has shrugged off every bit of good news so far this year as meaningless (yet rallied last year on much weaker news), one wonders why it hasn't gone down much further.

[expat_panama]

Yo Doc! Give me a hand here-- everyone's saying that equity prices are being controlled by the oil market.  For a few hours this actually seemed true, until noon today.  Oil prices jumped to a record high while and equities sat still for a couple hours.   At the end of the day equities tanked with nothing spectacular happening with oil.  Maybe for a few hours we had traders come in who were here last Tuesday when stocks and oil both went up-- or maybe Reuters is grasping at straws to make themselves sound impressive. Your take?