December 22, 2004
SOON THEY'LL BE GIVING IT AWAY IF YOU BUY AN NFL GLASS:
Stocks continue rally (Associated Press, December 22, 2004)
Wall Street extended its yearend rally Wednesday as a sharp drop in oil prices and a surprise uptick in the nation's gross domestic product pushed stocks higher.Posted by Orrin Judd at December 22, 2004 3:39 PMThe market's buying momentum grew when crude oil futures plummeted in response to the Energy Department's report of an increase of 2.1 million barrels in the nation's petroleum reserve last week. Demand for gasoline also fell. [...]
The GDP report gave many investors hope that the fourth-quarter reading will be stronger than expected. Analysts had feared that low job growth high energy prices would stifle economic growth. Oil prices, in particular, were seen as an extra drain on consumers' incomes, but the Commerce Department figure, along with the Energy Department's inventory report, assuaged some of those concerns.
I miss the NFL glasses and other football giveaways they used to have at Shell gas stations. My Dad was a loyal Esso (note to those of you under 35, that was Exxon's previous corporate name in most states) man, but during September and October he'd buy Shell so I could get that year's NFL-logo'd goodies. The best ever were the football player trading stamps.
Posted by: Foos at December 22, 2004 6:45 PMMy copy of today's Boston Globe had a typo. For the S&P 500 year-to-date performance, they had -70.80%. My immediate reaction was "Well at least I only have 70% of my money in that."