*Gold down 2.3 pct for the week. *Palladium posts largest two-day gain since 2008. NEW YORK/ LONDON, Aug 28- Gold rose on Friday as technical indicators and suggestions the U.S. central bank may delay a rate rise provided support, but the metal was still on track to post its biggest weekly drop in five weeks amid dollar strength and strong U.S. economic data.» Read More
U.S. stocks are taxiing towards a slightly higher opening today as airline takeover activity is set to give the transports a lift. Retail sales data for November could also give the market some direction and provide further clues to the consumer this holiday season. MERGERS AT THE GATE: Our Phil Lebeau is reporting on takeover talks...
We'll start with a little shame-less plug--as General Electric Chairman and CEO Jeffrey Immelt will be on "Squawk Box." He'll talk about GE's (parent company of CNBC) guidance that came out Tuesday. The company says it should see profit growth of about 13% in 2007. That's less than the estimate of about 15% for this year--but still above analyst estimates. You can also see Immelt on cnbc.com.
It's all about the jobs report today. World stock markets trend flat to lower ahead of the report and U.S. stocks are mixed ahead of the opening. The dollar remains in a tight range and oil traded higher over night on expectations OPEC may limit production again when it meets next week.
Hugo Chavez easily won re-election as president of Venezuela on Sunday. Chavez called his re-election--a defeat for U.S. President George Bush. Chavez said he will continue to use Venezuela's oil to expand social welfare programs--and continue to challenge the U.S. in Latin America. It's no secret the two men don't like each other.