Financial Review

Into the Weekend


Listen Later

…Stocks slip again, but up for the week. Oil down. Trade war bluster. EU GDPR – Alexa, is that a good idea? No cruising in the Chrysler. Financial Review by Sinclair Noe for 05-25-2018 DOW – 58 = 24,753 SPX – 6 = 2721 NAS + 9 = 7433 RUT – 1 = 1626 10 Y – .05 = 2.93% OIL – 3.13 = 67.58 GOLD – 2.90 = 1302.20   Well, it wasn’t pretty but it wasn’t as ugly as it could have been. The Dow Industrials dropped more than 100 points intraday, but then staged a partial recovery. The main drag again today, was oil, which dropped 4.3% – not soon enough for any relief at the pump heading into a Memorial Day holiday where many people will hit the road. A spike in crude oil prices has lifted the national average price of gas by 31% over the past year to an average of $2.97 a gallon, according to AAA. Fifteen states are already facing $3 average gas prices or higher. Saudi Arabia said this week that OPEC and Russia could supply more oil to world markets “in the near future.” That news led to the steepest one-day decline in oil prices in a year. Feel free to remain skeptical that OPEC and Russia will do anything to spoil the high prices needed to balance their budgets. Energy stocks dragged on major indices, with Exxon Mobil down nearly 2%, Chevron lost 3.5%. For the week, the Dow ...
...more
View all episodesView all episodes
Download on the App Store

Financial ReviewBy Sinclair Noe