Monday, May 07, 2007

CNN money

Watch out: Here comes $4 gasoline-
Gasoline prices were expected to peak below $3 a gallon, but there has been problem with the refinery and big demands could push prices higher. According to one industry expert gas prices could charge higher this summer, up to $4 a gallon in some places. Already, prices have gone up and above $3 in some states. According to the Energy Department’s price forecast, it was expected that gas prices would peak below $3 a gallon this May and later drop before summer driving season got stared.

Wall Street's other record breaker-
The Dow Jones industrial average has been enjoying its longest up streak in 80 years, and has chalked up 20 record closings in 2007 alone, after first taking out its all-time high from 2000 more than six months ago. And yes, the Dow is arguably the most famous U.S. stock index, watched and spoken of around the globe. But like an actor who always plays a version of himself in the movies, the Dow's range is narrow, just 30 stocks. Meanwhile, the far more versatile S&P 500 index has been quietly inching closer to topping its all-time closing high of 1527.46 hit on March 24, 2000 at the end of the big rally sparked by the 1990s tech boom. It's not even 20 points away.

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