Posted on 10/22/2004 12:40:47 PM PDT by expat_panama
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Worried investors send stocks sharply lower as crude tops $55 US per barrelMALCOLM MORRISON
TORONTO (CP) - Crude oil that rose well past the $55 US a barrel level pressured stock markets Friday as investors also dealt with a string of tepid earnings reports. The price of crude oil for December delivery on the New York Mercantile Exchange moved up 98 cents to a fresh high of $55.45 US a barrel on supply concerns - particularly heating oil inventories amid forecasts of a colder than usual winter in the U.S. Northeast. Investors also found fault with many of the latest batch of earnings reports from the United States. "We've been essentially range-bound," said Patricia Croft, chief economist and vice-president at Phillips, Hager and North. "We get to the top of the range and people get a little bit frightened and then on we go but the uncertainties that were with us at the start of the year haven't really been resolved in terms of oil and economic outlook and the Fed and politics and those issues have still plagued the markets."
(Excerpt) Read more at news.yahoo.com ...
| Actually stocks are down for some and up for others, as they always are. Small caps are at an all time high. The difference between small and big caps is kind of like the difference between payroll and self employment --one's up and the other's down. |  |
Bin Laden worries?
Bin Laden worries?
I think this is the Dems Oct Surprise, re: Soros..
Send the Oil up, Crash the markets right before election..
Wouldn't be suprised to see a 300+ point drop in the Dow next Thursday or Friday.
Ya---I think you are right, the oil market is being manipulated, causing the stock market to drop. Also the big money managers in NY love F'ing.
I agree, it's definately a Soros move. Wish someone could prove it before the election.
Noooooooooo,,,,Eliot Spitzer worries!!!!
Time to start drilling in ANWR if we are going to turn this thing around. We're in a time of war. President Bush needs to declare, based on our state of war, we are going to start drilling. Most of the people will agree with and back him.
SOROS LOSING BIG MONEY AND FEEDING FED FTC LAWS...THIS IS GOOD
HE WILL BE IN JAIL THIS TIME NEXT YEAR
He might be in jail next year, but Kerry will be in office if he manages to send the Dow down 300-400 points next Friday.
That will dominate headlines all Halloween weekend and crush Bush among the swing idiot.
They've been planning this for 4 years.. I hope Bush team has something ready to go.
Will the DJI30 crack 9000 before the election?
I hate to burst your bubble, but ALL markets are manipulated to some degree. Investment bankers make their money this way.
Yes, speculators could be moving the price too high. Only time will tell.
I like my cold spells in the summer and my warm spells in the winter.
Accordingly, I predict a normal to slightly milder winter.
The bitter cold will blanket our "great" allies in western Europe.
| With investors reaping obscene windfall profits from 20 to 50 percent over the past two years, I'm having a really hard time understanding how the MSM can get away with peddling this 'stock market crash' story. |  |
Oil markets are very susceptible to manipulaiton as NYMEX margin for oil is only 30%. Big money can move it easily...Soros has crashed other countries currencies and hates Bush enough to crash our market.
It's certainly heading that way. Eliot Spitzer is doing his best to make sure it happens!!!! We all KNOW which Presidential candidate that will help--and with the election this close, it could make the difference in the toss-up states!
Not if he's pardoned by President Kerry.
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