Reply #43: 11:20 EST numbers and blather [View All]

[UpInArms]

Dow 10,488.17 +82.47 (+0.79%)
Nasdaq 1,994.47 +20.59 (+1.04%)
S&P 500 1,173.52 +8.16 (+0.70%)
10-Yr Bond 4.575 -0.16 (-0.35%)

NYSE Volume 715,396,000
Nasdaq Volume 626,046,000

11:00AM: Market continues to stage a strong recovery effort as oil prices continue to slide following solid oil inventories data... Crude oil inventories rose 5.4 mln barrels, more than double what analysts expected, and distillates fell 1.1 mln barrels, slightly less than expected, keeping the commodity near session lows... Crude oil prices have fallen 2.7% to $52.75/bbl (-$1.48)... But a larger than expected decline of 2.9 mln barrels in gasoline inventories, which have arguably moved into the spotlight as the U.S. embarks on its busiest driving season (i.e. Summer), should not be overlooked...

While plummeting oil prices have been very bullish for stocks, high gas prices prompt concerns about pressure on discretionary spending... NYSE Adv/Dec 2098/878, Nasdaq Adv/Dec 1839/889