Sunday, December 10, 2006

The week in review

  • DJIA picked up 113.36 points this week, 0.93% and closed Friday at 12,307.49.
  • Nasdaq Composite also gained a very healthy 24.15 points, an even 1.00% and stands at 2437.36.
  • Crude oil fell $1.40/barrel, 2.21% to $62.03.
OPEC's October production cut has pushed oil prices back above the sixty dollar mark and caused stocks to stall. After setting a series of record highs in October and November, the Dow flattened out as reserves were depleted and oil prices climbed. OPEC is set to meet next week and might announce another output cut on Thursday, so it might be a rocky week for stocks.

The Happy Capitalist has been a sad and neglected blog of late as travel and professional demands have kept me away. With Christmas just a scant two weeks off, things might get worse before they get better. But these postings, as sparse as they are, help me to keep a more balanced perspective on things so they're not going to go away completely. At least not for awhile.

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