Crude Oil Up!

Well, another bad day on Wall Street. Which was mostly caused by the rising inflation and the weaker U.S. Dollar.  The price of oil per barrel went up $1.66 to end at $114.53.  And the U.S. Dollar got a little weaker compared to the Euro.  Although it’s been a rough start to this week I feel things will level out towards the end.  And hopefully the price of oil will get back in the habit of going down.  The recent drop of oil is already starting to show signs of it the pumps.  A gallon of gas was at $4.11 and is coming down to $3.73.  I feel that by years end the gallon of gas will be under $3.00, you’ll see.

Tags: Oil Prices, Wall Street

Target Profits Down!

I was a little surprise to read that Target Corp’s profit was down by almost 8 percent for this quarter. Discount stores usually fair well in hard times like we’re in. The only thing that could have caused this is people are only purchasing necessities. Necessities profit mark up is very low, and in some cases no profit is made. Discount stores like Target and Wal-Mart use necessities to get you in the store. And once your in the store you also pickup other more profitable products. Anyway, they still turned a profit when others are reporting loses. Wal-Mart on the other hand did very well with a 17 percent increase for this quarter. Target will also have an increase once they start discounting a little more.

Tags: Economy, Target, Wal-Mart