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  • For the week ending Friday, May 30, 2008, the markets finished up, with all major indices increasing ~1.3% or higher for the week. Only the Dow declined for the month, shedding 1.42%. The NASDAQ reached its third consecutive monthly gain , up 4.55% for the month. The markets were encouraged by better than expected earnings from retailers and strong results from Dell. U.S. GDP for 1Q also helped lift stocks up, as it rose 0.9% at an annual rate , better than the previous estimate. Crude Oil also retreated to lower levels.

  • Oil Settles Above $127 a Barrel on Weaker Dollar Friday, 30 May 2008 | 3:05 PM ET

    Oil prices rose to more than $127 a barrel on Friday as a drop in the dollar drew in investors seeking to hedge against the weaker greenback.

  • Fed Unlikely to Hike Rates Despite Inflation Worries Friday, 30 May 2008 | 2:58 PM ET

    The Fed probably will stay in a holding pattern, with little incentive between now and the November presidential election to move rates either way, analysts say.

  • Dollar's Rebound Expected to Continue Next Week Friday, 30 May 2008 | 2:39 PM ET

    With the U.S. economy narrowly avoiding recession and inflation concerns rising, the dollar should advance further next week, though any sign of new job losses will dull its appeal and derail a sustained recovery.

  • Dollar Falls Against Euro After Posting Strong Gains Friday, 30 May 2008 | 11:52 AM ET

    The dollar fell to session lows versus the euro and traded flat against the yen as investors took profits ahead of the weekend after recent strong gains in the U.S. currency, traders said.

  • Softer Oil, Firmer Banks Buoy Euro Shares Friday, 30 May 2008 | 11:46 AM ET

    European shares extended gains in afternoon trade on Friday after U.S. core personal consumption expenditure (PCE) data met analysts' expectations.

  • Spending the Stimulus: TVs, Tuition -- and Bills Friday, 30 May 2008 | 11:09 AM ET
    Tax Refund Check

    Many Americans allowed themselves to fantasize about large-screen TVs, European vacations and other luxuries when they learned of the federal rebates they'd be getting this spring and early summer.

  • Global Food Prices Could Rise Further: ECB Note Friday, 30 May 2008 | 8:54 AM ET
    Wheat Fields

    Global food prices could rise further in the short term and keep rising over the longer term as supplies are unlikely to match increased demand, a European Central Bank note said.

  • Inflation Moderates in April; Spending Up 0.2% Friday, 30 May 2008 | 8:37 AM ET
    Cash Register

    U.S. personal spending rose by 0.2 percent in April as forecast and a key measure of inflation moderated, government data on Friday showed.

  • ECB Turns 10 Friday, 30 May 2008 | 7:48 AM ET

    Would you believe it? It's already 10 years, since Riverdance power-danced the new bank for Europe through its inauguration at Frankfurt's venerated old opera, with great fanfare, festive speeches and "Ode to Joy", Europe's national anthem.

  • Will Inflation Force Euro-Zone to Raise Rates? Friday, 30 May 2008 | 6:47 AM ET

    On the verge of the European Central Bank's 10th anniversary, the news on inflation doesn't look good. Against the bank's target of "below but close to" 2 percent, euro-zone prices rose 3.6 percent in May, compared with the year ago, back to a historic high, data showed on Friday.

  • Asian Markets Edge Higher, Japan Climbs 1.5% Friday, 30 May 2008 | 5:05 AM ET
    A man uses his mobile phone in front of electronic stock boards at the Australian Securities Exchange (ASX Ltd.) headquarters in Sydney, Australia.

    Asian markets edged up Friday, led by exporters in Japan, as fears of a deep U.S. recession receded, but gains were capped by worries that inflation will cut into growth and lead to higher borrowing costs.

  • South Korea's Current Account Surplus at 3-Year High Thursday, 29 May 2008 | 10:41 PM ET
    Korea, Korean Flag

    South Korea's current account surplus hit a three-year high in April as exports grew faster than imports, central bank data showed on Friday, helping push the won up sharply to a fresh 3-week high against the dollar.

  • Japanese Inflation Dips, But Relief Is Temporary Thursday, 29 May 2008 | 9:32 PM ET
    Japanese Flag

    Japanese annual inflation dipped to 0.9% in April, thanks to a short-lived cut in a gasoline tax, but economists warned this would bring just temporary relief and a new decade high loomed.

  • Market Insider: Friday Look Ahead Thursday, 29 May 2008 | 8:51 PM ET

    Stocks could close out the month of May with a tailwind, particularly if the commodities sell off continues.

  • Manufacturing Activity in Japan Falls to 6-Year Low Thursday, 29 May 2008 | 7:32 PM ET
    Japanese Flag

    Manufacturing activity in Japan fell in May to the lowest in more than six years largely due to declining output and new orders, according to a survey issued on Friday.

  • Bulls And Bears: The Case For Both Sides Thursday, 29 May 2008 | 3:16 PM ET

    Bulls and bears are engaged in a furious fight today--bulls are emboldened because oil traders sold off oil, despite a bullish drawdown in inventory, and stock traders did not sell off the market when those bullish oil numbers came out.

  • Wall Street Job Cuts Won't Go as Deep as Feared Thursday, 29 May 2008 | 2:44 PM ET

    New York City's financial sector might only slice 15,000 to 25,000 jobs in the current downturn, which could prove shorter than the mayor has predicted, the city comptroller said on Thursday.

  • Pimco's Gross Says Rampant Inflation Here to Stay Thursday, 29 May 2008 | 2:16 PM ET

    Soaring inflation will continue to cause policy dilemmas for the Federal Reserve and other central banks as the global demand for commodities remains strong, Bill Gross, chief investment officer at PIMCO, told CNBC Thursday.

  • Energy Shares Boost Europe, Banks Slip Thursday, 29 May 2008 | 2:09 PM ET

    European stocks rose on Thursday, driven by a rally in energy shares as the price of crude oil broke back above $130 a barrel, while gains in the broader markets were tempered by fresh worries about the banking sector.

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