Stocks Fall on Oil Inventory

The market indexes off about 1% around the board today. Getting the blame? Oil prices are falling, due to increasing oil and gas inventories. Commodities also joined the selling parade.

Overall, this is good for consumers, right? Previously, I noted that the demand for fuel was falling, even as households were spending more and more on gasoline as a percentage of their monthly budgets. Here is some news that consumers are about to get a break on the amount being spent at the pump. Yes, that means more money to spend on clothes, cheesecake, and iTunes.

There is an "on the other hand," here. That is, that the reason the demand for fuel is declining is because the economy is slowing and consumers are tightening their belts. The GDP came in at a revised 1.8%, and that put a damper on the economic mood.

The final thought is that since it is May, the market is going down no matter what reason we give.