10/28/2004

What's New in the Market 10/28/2004

After two and three quarter days of trading the bullish rally that was seen has now taken a bearish turn. The slip in oil prices gave stimulation to the market. However, growing concerns regarding the oil price relief has grown to a worry. Mendelson a well followed analyst suggests that this decline in prices is likely do to a large sale of gas by a large player and we might see prices surge to$56 a barrel. Exxonmobil has posted large third quarter profits, but not large enough to offset the news of falling oil prices. Pfizer is down .8% as the drug maker’s board has approved a $5 billion stock buyback. DaimlerChrysler swung a third quarter profit. However, the SEC is filing a minor investigation after an employee of the company reported an allegation. The US dollar has depreciated against the Yen and Euro which is both a negative and positive. The positive aspect is that American exports will be able to be bought a bit cheaper, making American goods more affordable to oversea markets.

http://biz.yahoo.com/cbsm-top/

4 comments:

John West said...

Very informative. Exxon, Phizer, and GM are all outstanding firms. Stock prices will continue to rise and fall a marginal amount along with the oil prices.

Bryce Larkin said...

The supply and demand for oil will make the price go up or down. This article is great in showing that the government does not need to get involved. Also, our dollar has declined for some time. It is great for our exports.

Maudi said...

With a weakening dollar there are goods and bads. The Bads are that it cost more to produce somthing. The good is that other countries will by more goods because there money is worth more. The problem that America is facing is that the cost of labor and goods is going up and there is a lot of outsouring taking place. Thus there is few jobs in America which makes the economy suffer. The weakening dollar then becomes a real problem.

Dr. Tufte said...

This seems like more of a ManFin than a ManEc post and comments.