Investors Can’t Shake Worries on Energy

There’s good reason to worry: Energy costs are crimping profits at manufacturers, forcing airlines to cut flights and threatening consumer spending.
With crude prices at record highs and the winter heating season just around the corner, Wall Street is having a hard time dismissing worries about rising energy costs.

A number of companies have cited oil prices as they’ve issued third-quarter profit warnings and reports, and anxiety about crude, which neared $50 a barrel this week, has weighed heavily on stocks. There’s good reason to worry: Energy costs are crimping profits at manufacturers, forcing airlines to cut flights and threatening consumer spending.

More…