But the rally fades in the last hour. Apple and Amazon.com shares pop on analyst upgrades. Nike earnings cheer the Street. Bank of America is declared undervalued. Gold drops below $1,500; crude oil falls, too.
Funds tracking the dollar, Italy, oil, agriculture and autos will be in the spotlight.
The decision to tap the Strategic Petroleum Reserve will shake out speculators and help consumers.
The release of 60 million barrels from reserves is pushing crude oil prices down. Will that mean less pain at the pump?
The blue chips fall 60, but the Greek news lets them regain most of their early losses, driven by economic worries. Crude oil falls below its 2010 finish after the US says it will sell oil from its Strategic Petroleum Reserve. Exxon and Chevron sag.
The central bank sees depressed real estate and supply disruptions from the Japanese earthquake hampering the recovery. But inflationary pressures should ease. Jabil Circuit shares jump on decent earnings. Oil and gold rise.
The charts are signaling that the only way to go from here may be down. Oil shares are the most vulnerable.
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