The Labor Department reported claims for unemployment benefits rose by 4,000 last week to 319,000, the sixth increase in seven weeks, but less than the 325,000 claims analysts expected. As of writing, the Dow rose 155 points (12:22pm EST) to 13,446 while the Standard & Poor’s 500 index rose 14.48, or 0.98 percent, to 1,486.04, and the Nasdaq composite index rose 13.08, or 0.50 percent, to 2,605.15.

The NYMEX crude oil seems to have back off from the high of $80 a barrel, now at $79.70 down $0.21, although there as a time when it hit a high of $80.12 earlier. And talk about oil prices, FinanceTwitter was alerted that the earlier posting today on “Reasons Why Oil Price might spikes to $90 and beyond“ was picked up by Wall Street Journal under its article Attention, Crude-Oil Arbitrageurs earlier.

FinanceTwitter’s article was highlighted under “Related Articles and Blogs” section, a screenshot was attached as on the left.

Anyway, there’s nothing much to shout about, unless Wall Street Journal published the whole of FinanceTwitter’s article (keep on dreaming FinanceTwitter). On the serious note, if the Dow could maintain the 3-figure positive gain well into the closing bell, tomorrow’s regional stock markets including Malaysia should be open higher when the opening bell starts on Friday, 14th Sept 2007.

Meanwhile Bloomberg TV is talking about the big bet on oil price going into $100 per barrel. Such is the optimism on the energy price now. You can actually watch the “Live Bloomberg TV” on the internet, the link is located on the left-side of the navigation of this blog – go and find it if you’re interested. Glueing yourself to the financial tv give you the advantage of knowing the latest happening in the stocks market. It would be extra fun if such a channel could be provided live for Malaysia’s stocks market, but then the resources required for the production might be too much to handle.

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September 13th, 2007 by financetwitter

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