This morning all three major indices rose on the news of the continued decline of oil prices. This morning, oil traded as low as $118 before leveling out at $120 on news that Edouard would likely miss the oil rigs off the coast of Texas and Louisiana.
The dollar was stronger this morning ahead of the announcement from The Fed of its decision on interest rates that is due at 2:15 EDT. According to economists, The Fed is expected to leave interest rates unchanged at 2.0%.
Additionally, the Dow jumped on an upgrade from UBS of Dow component American International Group (AIG). UBS changed its rating on the stock to "Buy" with a price target of $41. UBS maintained its 2008 EPS estimates of $1.80 on AIG. The stock has climbed up more than 6% (+$1.66) to $28.35.
The Dow is trading up 155 points to 11,439, the NASDAQ is up 27 points to 2,312, and the S&P 500 is up 16 points to 1,265.
Look for a new commentary tomorrow from Joe Rollins.
The dollar was stronger this morning ahead of the announcement from The Fed of its decision on interest rates that is due at 2:15 EDT. According to economists, The Fed is expected to leave interest rates unchanged at 2.0%.
Additionally, the Dow jumped on an upgrade from UBS of Dow component American International Group (AIG). UBS changed its rating on the stock to "Buy" with a price target of $41. UBS maintained its 2008 EPS estimates of $1.80 on AIG. The stock has climbed up more than 6% (+$1.66) to $28.35.
The Dow is trading up 155 points to 11,439, the NASDAQ is up 27 points to 2,312, and the S&P 500 is up 16 points to 1,265.
Look for a new commentary tomorrow from Joe Rollins.
1 comment:
This is what I think: AIG stock
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