Strong week on Wall Street continues

by Darren

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The bulls are in the driver’s seat, so far this week. Investors have been reacting well to the news they’re hearing concerning earnings, and key economic indicators. Time Warner turned in good numbers, but people are still very concerned with energy prices.

Yet with a tropical storm threatening Florida and energy usage soaring in the sweltering eastern United States, rising energy prices threatened to stall the market’s momentum for the rest of the week. A barrel of light crude settled at $75.81, up 90 cents, on the New York Mercantile Exchange, while prices for natural gas — widely used in electricity generation — are sharply higher this week.

Investors are still not clear on the direction the Fed plans on taking, so that will end up being key to their sentiment for the remainder of the week. With war in the Middle East and extreme volatility in energy pricing, almost anything can happen.

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