BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Oil prices continue to feel pain]]>http://www.bloggingstocks.com/2007/08/10/oil-prices-continue-to-feel-pain/http://www.bloggingstocks.com/2007/08/10/oil-prices-continue-to-feel-pain/http://www.bloggingstocks.com/2007/08/10/oil-prices-continue-to-feel-pain/#commentsFiled under: , , , , ,

What a difference a week can make! It wasn't that long ago, August 1 to be exact, that oil prices were setting record high prices and appeared to be ready to charge above the psychological $80 barrier. Well, that was 9 days ago and 10.2% above oil's current price, as concerns over the U.S. economy have pushed prices down by more than $8 a barrel.

Currently we are seeing prices down another 87 cents to $70.72.

So what is the major problem here? I wish I could pinpoint the concerns down to one single factor, at least that way we would be able to try to figure out exactly how deep the problem goes, but unfortunately there are several factors weighing down oil prices at this time. They include (but are not limited to):
  • Reports suggesting a sluggish U.S. economy
  • Concerns that the subprime mortgage woes are spreading into different areas in the market
  • Jobless claims have been on the rise
  • Disappointing July retail numbers
  • Ongoing uncertainty over supply coming out of the Middle East
The picture is pretty dim at this point. The main problem is, of course, the impact from the subprime mortgage meltdown on Wall Street. Credit concerns have spread across other areas of the market and many are fearing that corporations are going to start to really feel the impact of lower consumer confidence. This has been reinforced lately in the form of weak July sales from retailers.

Continue reading Oil prices continue to feel pain

Oil prices continue to feel pain originally appeared on BloggingStocks on Fri, 10 Aug 2007 09:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>crude oil pricesCrudeOilPricesfeaturedoil pricesOilPricessubprime fearssubprime impactSubprimeFearsSubprimeImpactFri, 10 Aug 2007 09:50:00 EST<![CDATA[Countrywide Financial (CFC) adds to subprime panic]]>http://www.bloggingstocks.com/2007/08/10/countrywide-financial-cfc-adds-to-subprime-panic/http://www.bloggingstocks.com/2007/08/10/countrywide-financial-cfc-adds-to-subprime-panic/http://www.bloggingstocks.com/2007/08/10/countrywide-financial-cfc-adds-to-subprime-panic/#commentsFiled under: , , , , , , ,

You would have to have been hiding out in a cave over the past few days not to know that subprime fears have turned into mass panic on Wall Street. The newest company adding to the growing fears is Countrywide Financial Corp. (NYSE: CFC), the biggest mortgage lender in the U.S.

The company says it's now facing "unprecedented disruptions" that may very well impact the company's future profits. This will only give Wall Street's bears more reason to come out and drive down prices, fearing that the subprime effects are going to spread into additional areas of the market.

Shares of Countrywide are getting pounded in European trading, and you can be sure that the same will be true once New York traders get down to business this morning. As of 7:20 AM EDT the stock is down 16% in premarket trading. Yes... it's going to be an ugly one out there today for this stock (and probably the whole market, truth be told).

Continue reading Countrywide Financial (CFC) adds to subprime panic

Countrywide Financial (CFC) adds to subprime panic originally appeared on BloggingStocks on Fri, 10 Aug 2007 09:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Angelo R. MoziloAngeloR.MoziloCountrywide FinancialCountrywideFinancialfeaturedhome pricesHomePriceshousing marketHousingMarketinthenewsNYSE: CFCNyse:Cfcsubprime fearssubprime mortgageSubprimeFearsSubprimeMortgageFri, 10 Aug 2007 09:00:00 EST