Posted on 02/27/2012 4:59:21 AM PST by Hojczyk
Surging oil prices weighing on markets amid fears they could choke off economic growth
Sky-high oil prices weighed on markets Monday as investors worried that the increases could choke off a burgeoning economic recovery, particularly in the U.S.
Sentiment in the markets has been buoyed in recent weeks by a seeming calm in Europe's debt crisis and a run of strong U.S. economic data, particularly with regard to jobs.
One side-effect of the positive U.S. economic newsflow has been to put upward pressure on oil prices. Despite a modest retreat back below $109 a barrel Monday, the benchmark New York rate is trading way above where it was just a month ago. Last Friday, it hit $109.77 a barrel, its highest close since May 3. Crude has soared from $96 earlier this month as stronger U.S. economic indicators bolstered investor confidence.
"At this stage of the global economic cycle, with activity in many of the major advanced economies sluggish, a rise in oil prices threatens to intensify the recessionary prospects facing these economies while, at the same time, raising the headline rates of inflation," said Neil MacKinnon, global macro strategist at VTB Capital.
That fear has weighed on markets Monday.
In Europe, the FTSE 100 index of leading British shares was down 0.7 percent at 5,894 while Germany's DAX fell 1.1 percent to 6,789. The CAC-40 in France fell 1 percent to 3,432.
(Excerpt) Read more at finance.yahoo.com ...
I could live with that. ;^)
The president was an idiot for saying it and a bigger idiot for believing it!
LLS
uncle bambam a douchebag ??? are you implying that hes not queer and would get that close to ...*it* ???
“...Couldn’t you have included Islamic adherent there anywhere? ;^)...”
I can add in anything you want, brother...’cause if da shoe fits...ya know the rest...
Now, now...are you calling “her” an “it?”
If the shoe don’t fit, you must acquit... er something like that.
intentionally vague in the sense that im not even sure *it* is a 'her'...
and in homoland, chick parts would definately rate an 'it' due to their ickiness in general...heheheh...
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