OIL/GOLD/STOCKS: Gas prices may be at record highs, but look for prices to come back down if today is any indication. Oil dropped below $100 a barrel for the first time in a while, and gold is below $900 for the first time in a while. (A while being earlier this year.) Oil is at $100/barrel and gold is $896 at 9:00 AM EST. (Gold was $1000 plus a week, or two ago.) The Dow Jones look to be up at the bell, but there is still big problems with the economy, and long term ZD feels the market won't be so bullish in '08. (But that don't mean today won't be fun for bullish traders. Or maybe the bearish-minded people will use today as an opportunity to see into the rally.
DWP RATE INCREASE: Back on the L.A. City Council agenda for tomorrow (Wed 4/2/08). It was continued from last week as 11 councilmembers needed more time to figure it all out. CM Parks said that if he had to vote then (last Tuesday) he would have voted "no". Not sure what will have changed between then and tomorrow, but maybe Nahaiarosa will get some leverage on the uncertain CMs with some very compelling information to make the argument FOR the rate increases that for some reason wasn't looked at, yet. (And remember, isn't Antonio backing CM Parks for his run for County Board of Stupidvisors? How can Parks say no to Antonio's DWP rate hike? Plus, now there are nine amendments. It could be continued again. (I wonder how much "negotiating" is going on in violation of the Brown Act?) One things for sure: It would be surprising if the rate hike is passed unanimously after a few CMs expressed their feelings over the matter. (So unless some serious whips were cracking from the mayor's office, don't look for the rate hike to OFFICIALLY pass, cause unless it's unanimous -- it comes back for one more vote in a week's time. (Of course this rate hike is going through...it's just a matter of when it's official.)
Here are some other stories from the Zuma Dogg NEWS WIRE:
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