From today’s results the real estate market once again reminded us of its overall strength and resilience. For the past few weeks the financial news has been dominated by sub-prime mortgage market fears with terms like credit crunch flying around, but today showed investors that despite slowdowns there is still room for growth.
With current oil prices you have to like the prospects for companies participating in Canada’s oil sands and today with oil hitting an all-time high of $78.77, offsetting the inherent high production costs, this region is looking better and better for investors.
With oil prices remaining at above the $75 mark the potential for further gains by the major oil companies seems inevitable, but keep an eye on production levels and refinery disruptions to shake the boat some more as we move forward. In addition, at current prices the opportunity within the Canadian oil sands becomes much more viable.
While politicians continue to debate over the war in Iraq war in Iraq, investors in the defense industry are smiling all the way to the bank thanks to positive gains by defense players such as defense contractors Northrop Grumman and Lockheed Martin.
Gold historically moves in the opposite direction to the dollar so today when Fed Chairman Ben Bernanke discussed inflation concerns, the dollar weakened and gold prices and gold stocks moved upwards. Gold also typically moves in parallel with oil prices and even though I think today’s movement was more to do with the dollar, the current price of oil is not without its impact.
A snapshot of trends, movements and stock performance.
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