Retail gas prices at the pump increased a penny yesterday, first increase in a month & a half, on worries about the storm Gustav. The Gulf is getting ready for the storm to come thru in a few days. Oil is up on the nervousness while the Alerian MLP index is up pennies, trying to figure out which way to turn.
| CLV08.NYM | Crude Oil Oct 08 | __ 117.91 | .. 2.32 (2.0%) |
•Oil-Rig Insurers Brace for Biggest Test Since Katrina, Rita Stormed Gulf
In July, after tax rebates were spent, consumer spending rose only 0.2% & prices rose the most in 17 years. Even after revised GDP numbers yesterday, the US economy is still limping along with worrisome inflation & high unemployed producing sluggish retail sales
•Consumer Spending in U.S. Slowed in July as Prices Rose Most in 17 Years
Dell (DELL) dropped 3 on its negative earnings report from last night, weighing down NAZ. A lot of traders are away on holiday. Next week, business activity will return at full strength.
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