The stock market had a good week led by a resurgance in the bank stocks.
It was probably not a coincidence that oil prices fell dramatically during the week. The price of a barrel of light sweet crude ended the week at $123.26, down over $30 from its high price. This marked the second week in a row that oil has declined and gas prices fell below $4 per gallon for the first time in almost two months.
Despite the good news, we continue to be concerned about inflation and anticipate that the market will continue to fluctuate in the near to mid term.
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