Dow Posts Best 1-Day Point Gain Since November 2011
The Dow continues its effort to make up for its recent shortcomings as the Dow jumped up 421 points today - its biggest 1-day point gain since November 2011. The good news from the Fed regarding no immediate plans to increase short-term interest rates carried over today. The shale industry has been a blessing to Texas over the past few years, but as oil prices continue to fall it may become a curse. Since some wells become unprofitable at lower costs, oil companies will be forced to cut jobs and decrease capital spending. While declining oil prices is an overall positive for the U.S., it may become a huge negative for Texas since oil plays a huge role in the state's economy.