The U.S. Department of Transportation reported last week that Americans are cutting back on driving. Department of Energy crude oil inventories are at a six-month high, and gasoline prices around the country have retreated to about $2 a gallon.
In the face of 542,000 initial jobless claims, more than 4 million continuing claims and an unemployment rate at a 14-year high of 6.5%, U.S. companies are trying to shrink their way to profitability. Americans are hurting, and the pain worsens when they check their retirement and other brokerage accounts.
Market volatility has been breathtaking, with the VIX spiking above 80 on Thursday as the Dow Jones Industrial Average broke its Oct. 10 low. For the five trading days ending Thursday, the Dow Industrials lost 14.4% of its value, and the S&P 500 slumped 17.4%. ...
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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