As oil nears 140, stocks are mixed

Oil has another big up day, approaching 140. Today's rise is blamed on the a weaker dollar plus there is a report by CNBC that the Saudis may not be able to increase production to 10MM barrels a day. Dow is down 45, advancers about 20% ahead of decliners but NAZ is up 9. Lehman (LEH) reported earnings, delivering the $5 per share loss they forecasted last week, the stock is up 2. This AM there were doubters on TV saying this does not represent the end of their problems. Banks generally were up following the news. The Alerian MLP index rose more than 1 putting it at 291, probably following the rise in oil prices even though they aren't linked.

General Electric (GE), a Dow company & member of the S&P Dividend Aristocrat list, is down 25¢ to a 4½ year low. GE yields 4.3%, but has lost investor confidence:



Coca Cola (KO), another Dow stock & member of the S&P Dividend Aristocrat list, & Hershey (HSY), not a member of either but a whole lot of fun, were down 1.11 & 2.34 respectively. When these kind of NON FINANCIAL companies are selling off to new lows for the last few years, the markets are having big problems!