Independent, Fee-Only Financial Advisor
Wednesday, March 26, 2008
How high will gas go?
Stocks suffered a daylong slump Wednesday amid signs that three key things aren't happening in the U.S. economy: consumers aren't buying new homes, businesses aren't buying equipment, and refiners aren't turning crude oil into fuel. In the long run, the prices of the two commodities will have to fall into something that more closely resembles lockstep, with either crude falling dramatically or gasoline rising sharply. Commodity traders are increasingly betting on the latter, a potentially worrisome sign for the broader economy. Some analysts believe we could see gas at $4 a gallon by this summer. . . ugh. DJIA -109.74 Nasdaq -16.69 S&P 500 -11.86
Posted by Jeremy Stringer