Market Report: Stock Ticker (Oil prices are plunging 3.1% to $51.30/bbl)

Moneycentral.msn.com ^

[frogjerk]

Oil prices are plunging 3.1% to $51.30/bbl after Saudi oil minister denounces need for emergency OPEC meeting --snip-- 11:30 ET Dow -2.77 at 12553.31, Nasdaq -3.22 at 2499.60, S&P -0.39 at 1430.34: [BRIEFING.COM] The market has improved its stance since the last update but continue to sport modest losses even though the bulk of sector leadership is now positive. Unfortunately for the bulls, today's two best performing sectors -- Utilities and Materials -- also carry the smallest weightings on the 10 S&P 500. Of the five other sectors trading higher, none are up more than 0.3% with influential areas like Financials and Consumer Staples up less than 0.1%. Nasdaq -3.22 at 2499.60... NYSE Adv/Dec 1648/1435... Nasdaq Adv/Dec 1456/1421.

[frogjerk]

Your tagline is too funny!

[Enterprise]

Thanks!

[q_an_a]

I think it is interesting how the price in Dallas is between 1.93 and 2.12 or higher - which shows how much the market is adjusting to charging what the customer will pay, thus taking more profit with less sales. On the other hand WalMart and Albertsons are selling low to bring in traffic. The market is clearly at work here.

[Coldwater Creek]

I paid 1.86 in Shawnee, Oklahoma on Friday!

[Coldwater Creek]

Wal-mart in Covington was 1.93 - .03 this morning.

[slapshot]

Great place but not in Hammond. 3 Floyds Microbrewery is in Munster, IN. Hammond is more of a Falstaff/Mickey's type city - You can get a pretty good argument by mistaking town locations like that here in the People's Republic of Lake County, IN

Also Flossmoor Pub is a pretty good micro brewery

We now return you to your regularly scheduled thread. Not a thread hijack, more of a sidebar

[thackney]

Now, what the Chinese do with their SPR I don't know. Rumors of Chinese manipulation of commodity prices have continued unabated for a few years.

Since China has just started building their SPR a year or so ago, those rumors are only rumors. Also it is very small in size.

[farlander]

Ahem... let's see. How much do they produce, couple M barrels per day ? Bang on the drum some, make more money... hmmm. If I could say stuff and make my products price go up than I'd be out there every day scaring the bejeesus out of custom software buyers. "My new spreadsheets are for peaceful purposes - but buy my email client now or else."

[avacado]

You nailed it! The little runt is driving up revenue for his country in the most easy way... scare the world while you sit on some of the biggest oil supplies on Earth!

I gotta give the little maniac credit for something that was too easy and obvious. But oil prices are dropping and his little a$$ is about to get booted by his own people.

[farlander]

Actually, he doesn't run the show. It's the 'revolutionary council' behind the scenes, and the grand ayatollah. The crap that Ahmadi-Nejad says it's for public consumption. He doesn't actually have all that much power. It's just that it suited the regime to be bellicose (make more money, further their power, etc) at this time. It's not like they actually have free elections there. He'll depart and be replaced by someone else who will be (more) useful to the theocracy depending on grander geopolitical situation. If it's time to get to the table with US now that they've built up their position in Iraq, someone else 'more moderate' will take the front man role. Like Rafsanjani, say.