The atmosphere at Dow’s was really at an all time high, when Dow Jones average rose as far as 13,600. Greenspan’s comment on the “dramatic contraction” on the chinese stocks, made the impact and the average had come down, there was even a bidding battle for Alcan Inc. The percentage fall was somewhere around 0.11 after ‘Greenspan’s’ comment. It was Greenspans prediction about the dot com bubble which made the investors wary. The dollar steadied against currencies like that of the Japanese Yen.
What is worrying the investors is the all time high price of about $71 per barrel. Of course the oil stock piles have increased by about 1.5 million barrels this week surpassing the 1.4 million last week. The debate continues if the stockpiles are more than necessary!