CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Nervousness over economic data helped drive oil prices lower. Geopolitics has not been a factor. Nat gas was up slightly on the day. And gold was slightly lower, as well.» Read More
Brookfield Homes reported third-quarter profit was $1.6 million, or 6 cents per share, down from $27.6 million, or $1.03 per share, in the year-ago quarter. But the Fairfax, Va.-based company said revenue was $120.8 million, compared with $175.5 million a year ago.
The dollar slipped to record lows against the euro and a basket of currencies Friday as investors, faced with a run of weak U.S. economic data, anticipate a Federal Reserve interest rate cut next week.
Oil rallied to a fresh record high above $92 a barrel on Friday as the dollar tumbled to a record low, Washington imposed new sanctions on Iran and gunmen shut more oil production in Nigeria.
With positive comments from Microsoft and Countrywide today, it's time to step back and take a slightly broader view of the markets. The S&P is up 7% this year (and 3% from its historic high).
U.S. consumer sentiment fell further than expected in late October to its lowest in more than a year as concerns about the housing slump darkened the economic outlook, a survey released Friday showed.
The share of U.S. homes owned but empty rose to 2.7 percent at the end of September, the Census Bureau said Friday, in a signs of weakness in the housing sector.
The FEC is questioning 2008 contenders about contributions that “appear to exceed” legal limits. Hundreds of donors wrote checks for more than the $2,300 per election cap. Some failed to attribute parts of donations from joint bank accounts to their spouses.
Asian markets rallied in the afternoon session Friday, ending the week higher as upbeat profits results from companies such as Sony gave stocks a boost. Japan and Australia both finished over 1 percent higher, while South Korea advanced 2.6 percent.
Consumers in Germany had their confidence dented by fears of inflation taking root in Europe's biggest economy and the rising euro, a survey released Friday found, casting more concern about Germany's economic rebound.
Japanese core consumer prices fell from a year earlier in September, as expected, marking the eighth straight month of decline and doing little to change expectations that the Bank of Japan's monetary policy will be on hold for now.
Charlie Rangel’s tax reform bill isn't likely to become law anytime soon. Yet its already an active part of the presidential campaign, as Republicans try to reclaim control of the tax issue in advance of the 2008 elections.
Oil roared to a new record over $90 Thursday as tight inventories and fresh signs OPEC will shrug off calls for additional oil from big consumer nations sent prices up more than 3 percent.
Sales of new single-family U.S. homes rose 4.8 percent in September but sales in August were revised down sharply, painted a mixed picture of the battered housing sector.
European stock indexes closed firmly higher after a broadly positive session Thursday, with only a dip mid-session after weak U.S. jobless claims and durable goods data.
Orders for big-ticket manufactured goods unexpectedly fell again in September, raising new worries about how much harm a severe housing slump and credit crunch are causing the overall economy.
British brewer Scottish & Newcastle has rejected a 6.8 billion-pound ($14 billion) bid proposal from Denmark's Carlsberg A/S and Dutch peer Heineken, it said on Thursday.
Some positive earnings news is putting a floor under stocks but economic news and credit worries could be the ceiling. Durable goods data this morning showed signs of weakness, but new home sales rose a 4.8% to 770,000, a positive pickup after a decline in August. Forecasts were for 775,000 units.
American billionaire investor Warren Buffett said Thursday he remains negative on prospects for the U.S. dollar and that problems in the U.S. subprime mortgage sector may continue to cause problems for some time.
Asian markets finished mixed Thursday with financial stocks taking a hit while strong Chinese economic data raised investors' concern over the prospects of further monetary tightening. The Shanghai Composite sank 4.8 percent, but South Korea closed over 2 percent higher.
German business sentiment deteriorated in October as expected, pointing to a slowdown in Europe's largest economy, a closely watched survey showed on Thursday.
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