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| Dow, Nasdaq, and S&P by closing time (5:14pm ET) |
- Overall indexes rose today
- All three indexes were consistently inclining during trading hours today
- probably because of the rise in oil price today
- Crude oil prices spiked up to 12% today, reaching $29.44 per barrel
- yesterday the oil price hit $26.05 per barrel, which is the lowest price since May 2003
International Economy
- Not only U.S., but international stock market has sunk into bear market. The dropping oil price, threats of global recession and fall of big banks has caused this situation. Individual stock markets that have fallen during this week includes Brazil, Canada, China, France, Germany, and Japan.
- Japanese Stocks have fallen over 5% as foreign investors dumped risker assets. Not only Japan, but South Korean market has also declined, and this overall fall of Asian market follows the fall of U.S. and European Markets.
- China is on a massive gold buying spree. This is because Chinese investors have witnessed the recent fall of Chinese stock market, and they want something thats more stable than stocks.
Individual Analysis
- As oil price are staying cheap, Tesla Motors(TSLA) are having their worst year. Elon Musk, CEO of Tesla, has personally lost $3 billion on paper due to the drop of stock price.
- Amazon has deployed new shipping robots in their next-generation warehouse. They are expecting that these new robots will prevent fiasco like last year's christmas when many orders didn't make it on time.
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