Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, April 25, 2006

Relief in Sight?

President Bush has ordered the Department of Energy to stop filling the nation's Strategic Petroleum Reserve, leaving more oil in the market and more gasoline in the pumps. This could mean lower gas prices in our very near future, and I'm all for that! Unfortunately, this wasn't enough to pull the market back up today. The Dow started strong this morning, up nearly 20 points at open. But a stronger-than-expected data report on U.S consumer confidence and the housing market strengthened concerns about a rate increase. Traders were already on edge after the last Fed meeting, and today's strong numbers made the market fall. DJIA: -53.07 Nasdaq: -3.08 S&P 500: -6.37