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The price of oil is plunging on more evidence of slower growth in China. China says its services sector slowed in September but still is growing. China is a huge importer of commodities like oil so slower growth there could cut into demand for oil.
NEW YORK, Oct 3- U.S. crude futures fell $3 on Wednesday as weak economic data from China and Europe countered any support from a government report of falling crude stockpiles and stronger-than-expected figures for the U.S. services and private employment sectors.
The Natural Gas Supply Association said Wednesday in its annual winter outlook that natural gas prices, which averaged $2.75 per thousand cubic feet between November and March last season, may trend slightly upward for this heating season. Natural gas futures traded at $3.42 in New York Wednesday morning.
NEW YORK-- The nation's crude oil supplies declined last week, the government said Wednesday. Crude supplies dropped by 500,000 barrels, or 0.1 percent, to 364.7 million barrels, which is 8.4 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.
NEW YORK, Oct 3- U.S. crude oil stocks declined unexpectedly last week and distillate inventories fell more steeply than forecast, government data showed on Wednesday. Domestic stocks of crude dropped by 482,000 barrels in the week to Sept. 28, the Energy Information Administration reported, despite an increase in imports.
LONDON/ NEW YORK, Oct 3- The euro zone's economic woes accelerated last month and China's slowdown looked likely to extend to a seventh quarter, surveys on Wednesday showed, while the United States proved the bright spot with better-than-expected news on services and jobs.
ALBANY, N.Y.-- The Metropolitan Transportation Authority is on the right track fiscally after years of crises forced fare and toll increases that will continue to sting urban and suburban bus and subway riders, New York Comptroller Thomas DiNapoli said Tuesday.
NEW YORK, Oct 3- U.S. companies added more jobs than expected in September, while activity in the vast services sector picked up, suggesting the economy remained on track for modest growth.
NEW YORK-- Shares of Sarepta Therapeutics Inc. nearly tripled in value Wednesday after the company reported positive clinical data for its Duchenne muscular dystrophy drug eteplirsen. Eteplirsen is Sarepta's most advanced drug candidate, and in morning trading the stock jumped $25.70 to $40.69.
NEW YORK, Oct 3- Brent and U.S. crude futures initially pared losses on Wednesday after the U.S. Energy Information Administration's weekly oil inventory report showed crude stocks fell last week in the United States, against expectations for an inventory build. was down $2.85 at $108.72 a barrel at 10:41 a.m. EDT, having traded from $108.22 to $111.36.
*Best Buy founder, private equity firms examine books. Stocks oscillated between gains and losses as hopes that Spain will eventually request a bailout were offset by concern over China's slowing economy.
The commission voted 3-0, with two members absent, to approve a 15- year contract with Rhode Island- based GTECH that is expected to make $1.7 billion in profit over five years _ a $500 million increase over state projections. GTECH already provides and maintains vending machines for the Hoosier Lottery.
LONDON-- Markets remained subdued Wednesday despite some moderately encouraging U.S. jobs figures as investors awaited a key government report later in the week and more clarity over Spain's request for a bailout.
ALBANY, N.Y.-- New York's Health Department has selected a health care plan offered by Oxford as the benchmark for the state's health insurance exchange, which is intended to help extend coverage to the uninsured and reduce costs for individuals, small businesses and local governments. The New York Health Benefit Exchange Gov.
NEW YORK-- In a marketing gimmick that piggybacks on next month's presidential election, JetBlue is offering a way for Americans to make good on threats to leave the country if "the other guy" wins.
The Nasdaq Composite Index rose 0.37 percent. **SAREPTA THERAPEUTICS INC, $30.30, up 102 pct. **INTERMUNE INC, $9.74, up 10 pct.
"The price action today seems boring, but the economic data is pretty strong," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. The Institute for Supply Management said its index of service companies, which includes everything from financial firms to clothing stores, rose in September to the highest level since March.
NEW YORK, Oct 3- U.S. stocks fell on Wednesday as better-than-expected service sector and employment data in the United States were offset by concerns about a slowdown in the Chinese economy that weighed on materials and energy shares. The Nasdaq Composite Index gained 0.19 points, or 0.01 percent, to 3,120.23. Keywords: MARKETS USA STOCKS/ISM SERVICES.
PAUL EDELSTEIN, ECONOMIST, IHS GLOBAL INSIGHT, LEXINGTON, MASSACHUSETTS. But exports orders fell again given what's happening in Europe and China and employment also slowed from August. If things don't deteriorate further in Europe and China, we should avoid a recession but the economy will not expand fast enough to create more job growth. "
NEW YORK, Oct 3- Brent oil futures fell more than $3 and U.S. crude dropped more than $2 on Wednesday, hit by weak economic data from Europe and China along with sharp slides in gasoline and heating oil futures. Brent was down $3.20 at $108.37 a barrel by 10:13 a.m. EDT, having fallen as low as $108.22. U.S. crude was down $2.29 at $89.60, having dropped as low as $89.25.