Middle East Trouble
Stocks took a massive hit today as oil price lit up in price. Stocks are just nervous about its future, and is selling into that fear. Financials are in deep trouble, and blue chip companies like GM are in trouble too.
Bonds increased in value as stocks fell, and bonds became a “safe haven” for the money. Bonds in general are getting hit by the down grading of bond insurance companies, as the bond ratings have dropped in unison.
The dollar got hit hard today, and fell across most currencies.
Oil and Gasoline picked up today on the news that Israel was practicing a bombing raid on Iran.
In the news today…..
Israel practiced a bombing campaign on Iran it was announced today. They took 100 aircraft plus refueling aircraft on a 900 mile mission (over Greece) and 900 miles is the right distance for an Iranian bombing run. Just for your insider knowledge, Israel couldn’t do this practice without the active aid of the US.
Oil price shot up on the news.
Here are today’s numbers:
Dow Jones 30 Industrial – 11,842 (down 221 points)
10 Year Treasury Bond - 4.14% (down 0.06%)
Euro - $1.5627
Gold - $904 (down $1)
Oil - $134.62 (up $2.69)
Gasoline - $3.44 (up $0.09)
