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Updated from 7:02 a.m. EDT
Iran's plan to cut crude oil production helped boost oil to a new record price of nearly $127 a barrel Tuesday. Meanwhile, gas prices set a new record of $3.73 a gallon. Indicators suggest no immediate slowdown to the escalating price of gas, with the summer driving season just around the corner.
So what does this mean for stocks? Well, not much if you look at the market over the last few days. The major indices have been relatively strong in the face of all of this action in oil.
Wal-Mart (WMT Quote) offered a cautious outlook and we saw home prices post their steepest drop in the last quarter century. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
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