In the energy market Friday, crude for July delivery pulled back, closing at $134.86/barrel, down $1.88. July reformulated gasoline fell 6.74 cents, to $3.4626/gallon.

At least the traders in the futures market “know” what the Fed will do next. They’re betting on a rate hike - you can tell because the futures markets are starting to discount an interest rate hike by the Federal Reserve in October.

Both gold and silver did virtually nothing on Thursday until shortly after London opened. Then (just like Wednesday) a sell-off began in both metals which lasted until shortly after the Comex opened in New York.

The internet is playing wrecker ball to the once robust walls of the publishing business. A subject we’ve commented on before as newspaper subscriptions slide relentlessly taking circulation and advertising revenues with them.

Check out a chart showing the Q1 2008 action in the CRB Index, a widely tracked basket of 19 leading commodities, versus the S&P 500 from the beginning of the first quarter through Tuesday. The CRB Index is up 11% during that time frame. Meanwhile, the S&P is down over 7%. OUCH! Which would you rather invest in?