American Markets Rally on Oil Price Drop

Tags: Dow Jones, Federal Reserve, Nasdaq, Oil
5 Aug 11:53am
Posted by ChrisKrasowski
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Fears of a late storm season abated earlier this week and that, coupled with statements by the Federal Reserve, sent Oil Prices responding in kind; dropping to 3 month lows under $120/barrel. Markets jumped significantly on Oil's retreat, and the confirmation that Interest Rates will for the time being stay where they are.

For the Fed, inflationary risks are weighing heavily, and pricing pressure is "significant". The reaction for now is to wait and see, by holding rates, as the economy is expected to stay weak in the United States for several additional months.

The Dow Jones jumped 330 points (a gain of 3%), while the Nasdaq rose 64 points (a gain of 2.8%).

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ChrisKrasowski

WC Power Tech Fund founder. Chris sets out to prove that the new generation of investor can emerge from nontraditional circumstances. An engineering graduate from a Canadian University, Chris developed his passion for investing and the markets at an early age and personally owned his first stock at the age of 16. Now 24, with work experiences in the banking and investment banking industries in front of him and behind him, Chris built a personal trading account into the unofficial WC Power Tech Fund. The fund's official blog gives Chris the opportunity to write about investment topics of all shapes and sizes giving insights, opinions and market commentary to seasoned and new investors alike. Visit: http://wcpowertechfund.blogspot.com

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