Stock Market really likes Bush's Economy --- NOT -- Stocks Down 166 pts

[cthrumatrix]

Dow Plunges 166, Nasdaq Drops 21 As Oil Prices Briefly Surge Past $60 a Barrel for First Time


NEW YORK (AP) -- Stocks plunged Thursday, sending the Dow Jones industrials down 166 points as oil prices briefly moved past the psychologically important $60 per barrel level for the first time. Oil's advance accelerated a selloff prompted by poor earnings from FedEx Corp. -- which blamed high fuel prices for its disappointing profits

http://biz.yahoo.com/ap/050623/wall_street.html?.v=28

Bush's Oil Policy is doing wonders......

[Tandalayo_Scheisskopf]

1. And this speculation...

Is being driven by hedge funds.

Frankly, I would not be surprised to see more droppage tomorrow. If the price goes higher tomorrow...whoo boyee.

[BlueEyedSon]

2. yeah its the oil thang

[cthrumatrix]

3. and /or soc sec private accts. being "shot down"....

[BlueEyedSon]

5. hmm... you win. you think it's really dead?

[whistle]

4. Remember that every dollar increase per barrel of crude is....

....a dollar more in big oil profits. That in turn keeps the stock market index in energy prices going up. The downside are all the companies where the prices of energy negatively affect their profits. Anyone know how much energy stocks went up today?

[cthrumatrix]

6. mixed....XNG index up .6%

[BlueEyedSon]

9. and a $20 millon/day tax on everything else

[cthrumatrix]

10. plus this talk on a China "tarriff" could be an issue...Greespan was

yapping.

[LSparkle]

7. Supreme Court decision may have had an effect

All the home equity loans that are fueling the economy and now people will learn their little nest egg can be taken away if someone wants to build a mega-mall next door?

[cthrumatrix]

8. homes starts report were down as well.......