Violence in the Middle East and Africa could affect the stock market today as oil rises. Saudi Arabia announced that production will not be raised which may keep oil at current levels or higher. One million barrels of oil are still not making to production because of the unrest in Libya. Oil is up over 23%, unrest has spread to Algeria, Bahrain, Oman, Iran, and Syria. Also, let’s not forgot thousands have died that could be tied to oil. (1)
New home sales will be announced at 10:00 a.m. Eastern Time. The market is expecting 280k which would be rise from the 250k at the prior announcement. Tomorrow the Case-Shiller 20-city Index and consumer confidence will be announced. Towards the end of the week GDP numbers and continuing jobless claims could move the markets. (2) Kimberly-Clark earned $350 million down from the $ 384 million last year. The company is blaming a rise in material costs and believes costs will rise from $450 million to $550 million by the end of 2011. The company makes Huggies and Kleenex and believes oil based materials and pulp may rise even higher. (3)
Source:
http://pitguru.com/Article.aspx?cmd=archive&day=25&month=4&year=2011
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