Yesterday, oil was an economic indicator promising prosperity. Today, oil is the biggest scapegoat around.
On December 22, 2010, the following headline graced the Wall Street Journal: 'Oil back at $90 as growth gains pace.' The commentary expressed this upbeat message: 'The recovery in oil prices is an encouraging sign of world growth.'
Dow Jones Industrial Average
(DJI: ^DJI )| Index Value: | 12,393.90 |
|---|---|
| Trade Time: | 4:03PM EDT |
| Change: |  6.13 (0.05%) |
| Prev Close: | 12,400.03 |
|---|---|
| Open: | 12,402.08 |
| Day's Range: | 12,353.34 -12,438.14 |
| 52wk Range: | 9,596.04 -12,474.50 |
