Money Minute: Gas Prices May Head Even Lower; Are Vitamins a Bad Investment?

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A new report indicates that consumers are wasting billions of dollars on the purchase of multivitamins.

An editorial in a prominent medical journal says there is no evidence that multivitamins prevent death or heart attack, or ward off memory loss. This could hurt sales of Nature Made, One A Day, and Centrum, which is made by Pfizer (PFE), as well as at retailers such as GNC (GNC), Walgreens (WAG), CVS (CVS) and Rite Aid (RAD).

Gas Price oil energy production
Michael Conroy/AP
The Energy Department says domestic production of oil is increasing so quickly that it will push global prices lower over the next few years, which could bring down prices at the pump. The report also says the U.S. will need to import just 25 percent of the oil we use by 2016, down from about half just a few years ago.

Global auto sales are expected to rise by about 3.7 percent next year. The business research firm IHS forecasts total sales of 85 million vehicles next year, and 100 million by 2018. It says the U.S. market will continue to grow, but the main driver will come from emerging markets, where wealth is on the rise.

Meanwhile, General Motors (GM) says it plans to spend $1.3 billion to upgrade five factories in the Midwest.

Boeing (BA) has agreed to give billions of dollars back to shareholders. The aerospace giant is boosting its dividend by 50 percent, and it's planning to buy back up to $10 billion of stock.

Here on Wall Street, the Dow Jones industrial average (^DJI) jumped 129 points Monday, the Nasdaq composite (^IXIC) rose 28 points and the Standard & Poor's 500 index (^GPSC) and gained 11 -- snapping a four-day losing streak.

Discount retail chain Loehmann's has filed for bankruptcy and plans to close all of its stores next month if it doesn't find a buyer. Several other discount chains have gone out of business in the past few years, including Syms, Daffy's and Filene's Basement. They've all been hurt by competition from chains such as T.J. Maxx (TJX), Ross Stores (ROST) and Burlington Coat Factory (BURL).

-Produced by Drew Trachtenberg.


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122 Comments

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ED FERGUSON

Yea, they\'re going down all right, and then go right back up.

January 06 2014 at 5:00 PM Report abuse rate up rate down Reply
drbuckles

If Boeing is buying back it's own stock than it has enough money to pay higher wages and benefits and not leave Seattle. The oligarchy is moving to kill unions and the public has been duped into believing unions killed America, when too big to fail has already has. And on the vitamin thing, I threw my vitamins away because of the metals in them that effect your brains nervous system, creating short circuits. I have not felt any effects of not taking them, and actually feel better as I eat less meat and more vegetables and fruits with exercising everyday. vitamins, like the big pharma drugs pushers, are nothing more than pill pushers and more interested in getting you hooked on drugs than healing you. Take a look at Alderon and you'll see what I mean. The FDA is nothing more than an extension of the corporate drug monopoly.

December 19 2013 at 3:21 PM Report abuse +1 rate up rate down Reply
Nancy

Hopefully, people will use their own judgements about vitamins. One of my husband's docs was fine about vitamins until my husband became a patient. Second visit, doc told him to throw them out, We threw out the doc. As one reader commented...look who did the studies. I have always taken vitamins and remain healthy...even in my sixties! Funny how the benefits of oods can be touted for their "vitamin" content...yet supplements aren't effective?!?!? How about the idea that foods grown with chemicals, pesticides and preserved with more chemicals can only deplete the value of the food's nutiriotn. To me, it is vital to take vitamins. Just my opinion.

December 19 2013 at 1:14 PM Report abuse rate up rate down Reply
RICHARD & KAREN

That comment in the medical journal came from three studies. Two of the three studies were paid for by Phizer. Phizer wants all supplements to go away because they are not prescriptions written by physicians. The comment is pure bunk by a paid idiot. Supplements keep us from being killed by the fast food diets that we all eat. Supplements keep pregnant mothers from crashing on the floor from exhaustion. Supplements keep body builders going. Don\'t trust anything that is said badly about supplements.......it comes from the pharmceutical industry!

December 18 2013 at 10:21 PM Report abuse rate up rate down Reply
rexitalia

I dont see then any lower...this is just media bunk.

December 18 2013 at 5:28 PM Report abuse +1 rate up rate down Reply
amato3035

looking for "my portfolio's"

December 18 2013 at 4:16 PM Report abuse rate up rate down Reply
harleridr

I live in a refinery city and the refineries here are building storage tanks faster than you can count!! Why you ask, crude is coming here faster than it can be exported to countries that are willing to pay more per barrel than our own refineries. That is why gas prices will not go down. Ask the refinery workers, they will all tell you the same thing!!!!!! Our oil companies are selling out to the highest bidder. Good for them bad for us.

December 18 2013 at 3:14 PM Report abuse rate up rate down Reply
David John Francis

SUPPLEMENTS ARE MY LIFELINE TO HEALTH?


IS THIS ANOTHER RIGHT TO BE TAKEN AWAY FROM AMERICANS BY THE OBAMA ADMINISTRATION?


Are the Mega-German drug companies trying to force the insidious CODEX as they have in Europe? It’s a Bunch of ball. I have been taking supplement since I was 17, when there was a promotion in Hawaii. Just turned 70 and never had a sick day in my life; no flu or common cold. Just one elective surgery to remove a fatty cyst. My suspicion is the pharmaceutical companies and doctors are not making enough profits with their medications. My daily intake of natural organic liquid supplements and herbs has saved me a fortune and years of sicknesses. Everyday is a regimen of Fruit, vegetables and my exercise routine. Yes, I take vitamins--but not the synthetic garbage. Remember drugs cover up the illness, usually doesn't cure the problem? Tell the American College of Physicians they can stick there report, where the sun doesn’t shine.

My 65 year old wife fell on the stairs and suffered a knee injury and after surgery was given pain medication. After a while the medication was unable to stem the pain. I did some research and found a natural herbal supplement, that instead of a acute pain grade of 1 to 10, for her being a 10 plus, the inflammation was reduced and now she is able to walk correctly with a 1 to 10 ratio—now being a 2. I pay my exorbitant taxes—LEAVE ME AND MY SUPPLEMENTS ALONE?

December 18 2013 at 2:47 PM Report abuse rate up rate down Reply
xseagulls5

Are you freakin kidding me? Not for a minute can ANYONE believe this BS. If someone sneezes in Exxon, BP, Mobil, etc, the price GOES up 10, 15 cents a gallon in a matter of hours. Then it takes two weeks to get back to where it was( which usually is OVER $3), & this process happens all over again. Not for nothing, but have you ever noticed all the gashogs on the road & how fast they are to get to the next red light? We don't care; until we stop buying whatever is coming out of Detroit & drive more sensibly, nothing will ever happen. What a stupid article. Gas prices dropping; give me a break.

December 18 2013 at 2:08 PM Report abuse +1 rate up rate down Reply
pllove49

Yeah gas prices will come down when my husband gets a raise at work and I don\'t see either ever happening...

December 18 2013 at 1:43 PM Report abuse rate up rate down Reply