All eyes lead be on Hurricane Gustav and its potential to disrupt U.S. Gulf Coast petroleum payoff and refine operations on its expected land- sum up early in the week. any new threat to oil production could boost the footing of crude and in turn cause stock investors to take sh ars on fears that inflation pressure will rise.
Investors will withal contend with a barrage of economic data following week, notably the August payrolls report due out on Friday and two reports on U.S. factory activity from the Institute for tot up Management.
But the hurricane will be the main focus at the beginning of the week. On Friday, officials said the storm would build to a dangerous Category 3 hurricane when it hits land.
In the past week, oil prices have surged and retreated on concerns about the storms path, strength and the adroitness of U.S. emergency officials to handle any disruptions.
Crude oil hit $120 on Thursday before settling at $115 on Friday, bolstered by a stronger dollar.
Gustav will belike be moving the market one way or the other, said John Praveen, chief investment strategist at Prudential International Investments Advisers LLC in Newark, New Jersey. If it fizzles then it will be a big relief on oil prices.
Also driving the market next week are several administration economic reports.
This data comes after the U.S. government said gross domestic product grew at a robust 3.3 percent clip between April and June, above initial estimates of 1.9 percent.
But analysts said the strong showing was largely the outcome of increased exports.
If you look at GDP, youre led to believe the economic system is solid, said Hugh Johnson, chief investment officer of Johnson Illington Advisor in Albany, New York. But if you look at the variables -- employment, industrial production and personal...If you want to get a full essay, order it on our website: Ordercustompaper.com
If you want to get a full essay, wisit our page: write my paper
No comments:
Post a Comment