Stock sell-off continues as oil sinks below $56

[PamIsMe]

WOO HOO, gas prices are down to $2.50 here and that's with 33 cents WI gas tax.

www.usatoday.com/story/money/markets/2014/12/15/stocks-monday/20423839/

Stocks fell again Monday, following the market's worst week since September 2011, as oil prices continued their downward spiral and showed no signs of hitting a bottom.

In a volatile trading session, stocks opened higher as the Dow shot up more than 100 points at the opening bell before reversing course and tumbling more than 100 points.

The catalyst once again was oil, as U.S. crude fell $1.90, or 3.3%, to close at $55.91 a barrel. Oil has fallen by about half since June on waning global demand and abundant supplies. The recent drop to five-year lows has been roiling stock markets.

[bblwi]

We have $2.39 here today in most places. Two years ago we were told that high oil prices were causing the markets to be weak and reactionary and that our economy was growing slowly due to high energy prices. Now when energy drops they say the market is reacting to too much fall in prices!!! Stock market is more fickle then the fur industry.
We now have lower UE, 300K jobs per month with economic growth and now the big money people say that that will drive up costs and lower profits and that puts a downward turn to the market. I am going to shop for some more 4-5% interest accounts and live with it. I have one that I can not put money in unless it is deferred compensation money but it is paying 4.18% for this quarter. It was as low as 3.68 one quarter of 2014.

Bryce

[PamIsMe]

Not fair, how come your gas is lower up further north in WI than ours is down here I wonder? lol
I need to fill up this week, I think I'll hold off as long as I can.

Cheers,
Pam

[James]

I just saw $3.39 for regular when I was in Seattle last week, which is higher than we're paying here. 'Course, down thataway they probably tax it to death like everything else there.

Jim

[PamIsMe]

Sheesh, figured I'd waited long enough and went to get gas today. In 2 days, the price is back up from $2.35 to $2.49.9.

Arrrggh,
Pam

[bblwi]

The market is roaring back up as well. Hard to figure and not really a calming thing to note that the great economies of the world are that fickle. I guess there is an awful lot of insecurity in wealth. No wonder we have such a dysfunctional society those that hold the lion's share of the wealth are for the most part scitzo or bi-polar in many way. Non wealthy poor that are in secure look for food, shelter and ways to feed their addictions if they have those. The wealthy become paranoid, legal drug abusers, isolationists, grandiose and self righteous.

Bryce

[trappnman]

down to 2.29 here

they say it will fall 10-15 cents more by end of year

[trappincoyotes39]

2.07 here today, as we have a lower gasoline tax than some other states.

[northof50]

Drove over a switching yard and it was full of oil tanker cars in ever lane, not moving. This ND oil cost more than 55$ to produce
at last our gas is below 1$ litre down to 85 cents, but end of month speculating will tell where it goes

[trappincoyotes39]

1.89 today for unleaded.