Temporarily Relaxed Market. Milota Sidorova

Two days of recording drops, American stock market finally lays in relatively safe zone. According weekly report of Labor Department, companies seem to not be worried about continuously inflation of last weeks. At least it haven't affected employee sector. During the week, the number of applications for unemployment benefits declined 9,000 down to total 365,000. However, topic no.1, that makes not only Americans worried, the oil prices fell down from Wednesday's maximum of $135 down to $130,81. Slight recession of currently most valued crude relaxed investors and pushed market into the state of possible gains.But still, referring some observers, the situation remains nervous."People are concerned about the economy and what's happening with oil," quoted Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York.American oil prices have increased the prices overseas, waving from Western do Eastern Europe in approximately weekly rate. Drivers are desperate and believe that the further rose will come before summer 2008. Oil also significantly affects price development of other energies. One can say, that this gray fear of general up-grading rises not only over heads of American people.Summing two days loss, Dow Jones totaled 427 points or 3.3 percent and this morning has finally turned direction gaining 24.43 points or 0.19 percent. Also S&P 500 and technological Nasdaq have followed increasing trend of Dow Jones. S&P 500 rose 3.64 or 0.26 percent to final 1,394 and Nasdaq reached 2,464.58 with an increase of 16.31 points or 0.67 percent.

related story: http://news.yahoo.com/s/ap/20080522/ap_on_bi_st_ma_re/wall_street;_ylt=AsXyTEptxx8mYbfA1Cpwoh2s0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

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