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George Chamberlin's Money in the Morning

The October rally continues. After three months of constant declines on Wall Street the stock market has resumed its winning way. While the major market indexes paused yesterday -- the Dow industrials were up 14 points and the S&P 500 finished slightly lower -- the buying has returned early today with gusto. The Dow has traded up triple digits and closing in on the 17K mark after falling as low as 15,370 in the third quarter. To be sure, volatility is not going away but it now appears to work in the favor of investors.


Once again, it seems stock and oil prices are joined at the hip. Crude tickled $50 a barrel this morning before a report showed a 3.1 million barrel increase in petroleum reserves in the past week, way above expectations. That took oil back to below $49 and pulled stock prices off their best levels.

Folks from Comic-Con rang the closing bell at the NYSE last night. No, not the San Diego Comic-Con but the one held back in the Big Apple. It began yesterday and runs through the weekend with people in bad costumes pretending to be superheroes.

A big day yesterday for Microsoft as the company rolled out a bunch of new devices to compete with Apple and Samsung just in time for the holidays. Getting the most attention is the company's first laptop computer, the Surface Book. It does look very cool and has lots of bells and whistles. Of course, what else would you expect for something with a base price of $1,499? It goes on sale Oct. 26. Interestingly, Hewlett-Packard today is introducing its newest computers and tablet devices.

The CEO of Norwegian Air is suggesting his carrier may begin offering flights from New York to Europe for just $69. The idea is to use smaller airports and pay lower fees to help bring down costs. For instance, instead of using the large airports around the Big Apple it would use facilities like the Westchester County Airport. The similar tactic would apply at the other end with smaller airports in Germany and Norway. If they can pull it off, the flights would start in late 2016 or early the next year.

The local community is mourning the death of Bill Kolender, the former sheriff of San Diego County and San Diego Police chief. He died at the age of 80. Bill was a caring person who gave much to the community above and beyond his duties as a police officer. He will be missed.

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