Wednesday

Oil set another record, topping $77 a barrel. This is connected to the unrest in the Middle East. With Israel and Lebanon going at it and Iran rattling a few chains, markets could do nothing but retract. U.S. companies keep moving ahead, taking care of business. GM is one step closer to a deal with Nissan. Ford is cutting its dividend, hoping to conserve cash. Intel is laying off managers, as it streamlines its business. Major indexes gave up more than 1% today. Let's hope oil and the Middle East cools off soon. Dow -166.89 NASDAQ -36.13 S&P 500 -16.31