CHART: Dividing the Dow Jones Industrials (DJIA) by the Oil Stocks Index (OIX) shows that the stability of the US share market is largely based on the rise in oil stocks which have been profiting from the rise of oil prices. The picture looks the same with other indices replacing the Dow.
The US current account deficit that is expected to reach 800 billion dollars by the end of 2005 equals the market capitalization of the following 15 Dow components, Peter Schiff explains: Alcoa, American Express, Boeing, Caterpillar, Coca-Cola, DuPont, General Motors, Hewlett-Packard, Home Depot, Honeywell, 3M, McDonalds, Merck, SBC Communications, and Walt Disney.
Thursday, June 30, 2005
Posted by The Prudent Investor on 6/30/2005 12:17:00 am