"Death to America!"
Posted on 02/02/2016 2:24:13 PM PST by John W
Wall Street stocks ended sharply lower Tuesday as investors unloaded energy and financial stocks amid a selloff in crude-oil futures, which settled below $30 a barrel.
The downdraft in energy shares and banks offset strong gains in Google parent Alphabet Inc.-which officially surpassed Apple Inc. to become the most valuable company in the world-toy maker Mattel, and fashion retailer Michael Kors.
A fresh 5.5% slump in oil prices following a 6% slide Monday, weighed on energy companies' stocks. The energy sector had the worst performance of the S&P 500's 10 sectors, down 3.3%, followed by financials, declining 2.6%.
(Excerpt) Read more at marketwatch.com ...
Not to worry, 2016 will be the “Summer of Recovery”
Duh, golly, just so gas is cheap!
It’s all Donald Trumps fault no doubt...or George Bush...or could it be Americans are finally figgureing out that OBAMA’S economy is killing our economy?
Reminds me of the last town hall where Marin O'Malley said Obama had done such a great job then went onto a laundry list of things wrong in the country.
Again?!?
Wall Street realizing “oh, crap, this country really COULD elect Bernie”.
So why are gas prices not dropping faster.
"Death to America!"
For one thing the raw input costs to gasoline are only a fraction of the retail price; taxes — in some states like mine — being a considerable portion. But even here retail unleaded gasoline has dropped under $2 finally.
If Wall Street would have been paying attention the past 7 years, they would have realized that we already elected Bernie. The only difference between Barack and Bernie is that I believe Bernie's intentions are noble. He's just stupid, that's all.
You realize that even if crude oil was free, gasoline would still cost money, right? Maybe you don’t.
Strange. In the past, when oil went down the stock market went up!
“Duh, golly, just so gas is cheap!”
Problem is our 401k’s are loosing money at the same time! Cheap gas isn’t any good to us if we’re broke!
Paid $1.44 a gallon the other day.
[Not to worry, 2016 will be the “Summer of Recoveryâ€]
Woohoooo!!!!!!!!!!!!!!!!!!!
Paid $1.41.9 last night and today it’s $1.39.9.
I bought too soon!!! (actually was outta gas)
I have a hard time believing cheap gas alone is causing the market drop. Cheap gas frees up a lot of money for other purchases. That free money will flow somewhere. I may be wrong since some of that money will go towards Obamacare.
“I have a hard time believing cheap gas alone is causing the market drop. Cheap gas frees up a lot of money for other purchases. That free money will flow somewhere. I may be wrong since some of that money will go towards Obamacare.”
I wasn’t trying to equate the two. Just looking the end result. And no, I don’t think cheap oil is responsible for the market decline. By bet is that the market prices are inflated in relationship to the economy in general. The 1%er’s are always rigging the game so that they can take the hard-earned bucks from the middle class. Low oil prices are a reflection of low demand which is caused by a poor business climate.
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