Stocks See Whipsaw Action
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Stocks saw back and forth action in the first few hours of trading today. After starting higher despite rising crude, stocks moved to the day's highs as crude slipped lower. However, since hitting these day's highs profit takers have stepped in pushing the markets lower.
Heading into the 11 o'clock hour the Dow is down 16, the Nasdaq is down 26 and the S&P 500 is down 4.
It is clear that the higher crude prices are already impacting customers psyche and investors are worried it may soon hit their pocketbooks. Over the weekend it was reported that the national average for fuel surged to $3.51 per gallon.
In the Middle East the big worry is Saudi Arabia. Later this week will be the "Day of Rage" protest. Libya continues to be a hot spot, with opposition forces closing in on Tripoli.
Crude is currently up $1.12 to $105.54.
Heading into the 11 o'clock hour the Dow is down 16, the Nasdaq is down 26 and the S&P 500 is down 4.
It is clear that the higher crude prices are already impacting customers psyche and investors are worried it may soon hit their pocketbooks. Over the weekend it was reported that the national average for fuel surged to $3.51 per gallon.
In the Middle East the big worry is Saudi Arabia. Later this week will be the "Day of Rage" protest. Libya continues to be a hot spot, with opposition forces closing in on Tripoli.
Crude is currently up $1.12 to $105.54.
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