Dow Jones Industrial Average edged up to a fresh 2010 closing high in thin trade on Tuesday, led by gains in Chevron and Hewlett-Packard hit. The Dow closed 20.51 points, or 0.18%, at 11,575.54, its highest close since August 28, 2008. Will the measure profits, Chevron rose $ 1.07, or 1.2%, to 91.19 after a county in California, a company official said that refinery was operating. A California Emergency Management Agency said earlier submission that the plant was closed down.
Hewlett-Packard was also strong, adding 43 cents, or 1%, to 42.25 after it said it was a 10-year contract for up to $ 2.5 billion personal computers, accessories and support services to NASA awarded. Read more
NEW YORK – U.S. crude oil futures ended lower on Tuesday for the first five session as the U.S. dollar rose, reducing risk occupations, and doubts arise about whether The reported tax-cut deal between Democrats and extension Republicans were pushing through. Investors also booked profits when prices had increased a combined $ 5.27, or 6.3 percent, in the previous four sessions.
The tax-cut deal helped lift crude futures above $ 90 per barrel, in hopes it would encourage more consumer spending, but ran into trouble when Democrats in Congress questioned whether President Obama was too quick to compromise with Republicans. Read more
U.S. stock markets fell Friday, sending Wall Street to the second straight weekly decline and highlighting investor fears that economic recovery may be faltering.
The Dow Jones industrial average 57.59 points, or 0.6 percent, slipped to 10,213.62 while the broader Standard & Poor’s 500-stock index fell 3.94, 0r 0.4 percent, to 1071.69. Friday’s losses left the major indexes closed at their lowest level in a month. Read more
Japanese and Australian stock futures rose after a report showed the production in the U.S. jumped twice as much as forecast in July. American Depositary Receipts of Toyota Motor Corp., a Japanese automaker that North America is the largest market, was 0.6 percent from the closing share price in Tokyo. Those of Sharp Corp., a Japanese electronics company that receives 14 percent of sales in Europe climbed 2.3 percent as the yen weakened against the euro.
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SYDNEY – Australia increased official forecasts for the main export commodity next year, citing higher demand for iron ore, copper and nickel as more economies outside Asia of the global financial crisis to recover.
Australian iron ore exports are set to record hit 422 million tons in calendar 2011, the government commodities forecaster said on Tuesday, as the American, European and Japanese steel producers, production capacity idled in 2008 to restart, add to the already strong demand for iron ore from China steel mills. Read more
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Stock index futures rose Friday after encouraging data from China and one of two years high in the S & P 500 had investors betting on a year-end rally.
A wealth of data showed China’s imports and exports jump in November, bank lending topped forecasts and real estate investments in forward drive. As well, China increased the reserve requirement for banks, but the interest continued to hold.
The move was a milder form of monetary tightening after expectations that China could raise rates to rein in its red hot economy, although a rate hike was still possible. (more…)
NEW YORK – The national average price of regular gasoline rose 1.8 cents to $ 3.07 per gallon in the week ending Monday, the Energy Information Administration said.
The price remained at its highest rate since October 13, 2008, for the fifth consecutive week. Prices are up 7.5%, or 21.4 cents, in the period.
Prices are 15.2%, or 40.5 cents above a year ago, making the biggest premium since May 1917.
The increase in pump prices comes as crude oil futures rose above $ 90 a barrel, the highest level since October 2008, and gasoline futures prices have followed. Gasoline demand is stronger than expected in recent weeks and inventories at December 24 were sufficient to 22.9 days of demand, the lowest level since early September 2009 cover. Demand in the last week was the strongest since mid-August when the summer driving peak and appetite for gasoline in December was the strongest for the month since 2007.
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Oil prices hesitated Thursday as oil traders reacted to a barrage of mixed economic data and the tropical storm reports. The October Revolution Brent crude contract fell 37 cents to $ 114.48 per barrel and West Texas Intermediate (WTI) light sweet crude for October delivery up 12 cents sides to settle at $ 89.93. Both were bouncing back and forth between negative and positive territory.
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