These 3 Stock Market Winners Love the Suez Canal Fiasco
The stock market kept some of its upward momentum on Friday morning, building slightly on gains in Thursday's big market reversal. Lately, though, investors have had trouble seeing any firm direction in the stock market.
There have been countervailing factors that have created volatile moves in both directions, and that seems to have market participants feeling a little uncertain about how best to position their investments. As of 11:15 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 132 points to 32,751. The S&P 500 (SNPINDEX: ^GSPC) gained 15 points to 3,924, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up just eight points to 12,986.
One news event that's getting a lot of attention around the world is the current blockage of the Suez Canal in Egypt. A cargo ship got stuck in the canal, and that's created a logjam of shipping traffic. The canal is the only alternative to sending vessels all the way around the southern tip of Africa in order to get between the Indian and Atlantic Oceans, and connects markets in Europe with those in Asia. Therefore, many worry about the potential impact on global trade.
Source Fool.com
