All Posts Tagged With: "MF"
Compromise Bailout Deal Emerges
Congressional negotiators late yesterday reached a tentative agreement on a credit-crisis compromise. It gives the Bush administration about a third of the $700 billion it has requested up front but made sure half that outlay was subject to a congressional veto, reports William Patalon III.
Industrial Metals Move Up
The base metals were all in positive territory on Friday. Copper spiked sharply higher during the pre-dawn hours, dropped off a little after the New York open, then traded dead flat through the day, finishing at $3.2086/lb., up 11 2/3 cents.
Crude Retreats
In the energy market Thursday, crude for October delivery reversed course after pushing past $120 and ended with a loss, closing at $115.59/barrel, down $2.56. October reformulated gasoline lost 4.6 cents, to $3.0214/gallon.
Global Investing Roundups Wednesday, August 27th, 2008
Retailer’s Sales Slump But Not Its Stock; Stay-at-Home Diners Hurts Darden; Oil’s Dollar Jump on Weather and Political Unrest; FDIC’s Bad Bank List Bulges; HP Closes Deal with EDS; Citi Pays Restitution; GT Solar Swings to Profit; Rio Digs Record Results
Strong Dollar Rally Causes Gold Prices to Tumble
Gold prices tumbled below $800 per ounce for the first time since late 2007 Friday, as the continuing U.S. dollar rally sparked an across-the-board retreat in commodity prices.
Crude Slips Further
In the energy market Friday, crude for September delivery fell for the second session in a row, closing at $113.77/barrel, down $1.24. September reformulated gasoline declined 5.2 cents, to $2.8602/gallon.
Crude’s Slide Continues
In the energy market Tuesday, crude for September dipped again, closing at $113.01/barrel, down $1.44. September reformulated gasoline slipped 2.3 cents, to $2.8432/gallon.
Higher Corn Prices Ahead as Overly Optimistic USDA Report Misses the Mark
Corn prices are down 36% from their June peak, but despite the U.S. government’s claims of a bumper corn crop this year, the current dip in corn prices is just a temporary abatement, as higher demand and a potentially smaller-than-estimated total crop are poised to push corn prices higher.
Base Metals Largely Pummeled
The base metals mostly took another hosing on Monday. Copper held up until the late predawn hours, but tumbled from there straight through the day, finishing at its intraday low of $3.3553/lb., down more than 6¾ cents.
Crude Drops Again
In energy news, oil traded lower for the day, continuing a string of recent declines since hitting an all-time high over $147 a barrel several weeks ago. Crude for September delivery fell another $2.54 to finish at $122.19 a barrel, its lowest price in 12 weeks. September reformulated gasoline also fell 6.1 cents, ending the day at $3.0132 a gallon.
Latest News
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- Base Metals Savaged Again, but Aluminum Hanging In1:07pm CDT