Today's trading action was interrupted and then switched gears late morning after two unrelated pieces of worrisome news. Most importantly, I'd argue, reports surfaced that a Navy contracted ship fired warning shots at two fast-approaching Iranian vessels. Iran denied any hostilities over the incident (it must have been 'Fauxranians'). Oil shot up $2.43 to $118.49 per barrel. Also, consumer sentiment from University of Michigan (revised) was reported at a 25-year low at around the same time.
These are the unofficial closing prices today for major US index readings:
These are the unofficial closing prices today for major US index readings:
- DJIA 12,892.84 (+43.89; +0.34%)
- S&P500 1,397.86 (+9.04; +0.65%)
- NASDAQ 2,422.93 (-5.99; -0.25%)
- 10YR-TBond 3.866% (+0.039)
- 52-WEEK LOWS (AAI, HRZ, IAR, LEE, NTGR, PAY, UCBH, VDSI)
Bush administration ignored regulators' warning of mortgage meltdown
Cramer on BloggingStocks: Any downside should now be muted 
Citigroup bailout sheds light on just what the taxpayers are buying
