
The Dow Jones Industrial Average’s (INDEXDJX:.DJI) recent slide indicates that the market might be trying to price in the impact of oil’s plummeting prices. Considering how prescient the market can be, it should be no surprise to see the oil and energy portions of major indices to be ‘fully adjusted’ once their actual earnings report comes in. It would be no surprise that these reports would reflect just how badly their income was hit by oil’s continued decline. We’re not just talking about petroleum dealers and distributors here-there are a lot of companies involved in the process of getting oil out of the ground and into your car’s tank. All those companies will be affected. Indeed, oil rig order cancellations have spiked up to match the crash in new oil well permits.