Monthly Archives: June 2012

Euro Plan Sends Oil Higher –

European leaders announced plans to address the debt crisis and the news was well received by investors.  U.S. and European stocks rose and crude oil increased by over 9%.  Crude oil traded at almost 85$ a barrel on Friday which … Continue reading

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Pending Home Sales Index Rises –

The National Association of Realtors Pending Home Sales Index rose to 101.1 in May.  The 5.9% increase in May moved the index to a two year high.  The two year high was also reached in March and previously in April 2010. … Continue reading

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Brent Crude Rises –

A strike by Norwegian oil workers helped to drive Brent crude higher on Tuesday.  Brent crude rose over $2 a barrel in London trading and settled over $93 a barrel.  U.S. crude oil was only slightly higher in trading.  The strike has … Continue reading

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Euro Debt Crisis Drives Crude Oil Lower –

The European debt crisis continued to weigh on crude oil prices in Monday trading.  Crude oil prices fell below $79 ahead of a two day meeting of European Union leaders.  Oil also fell as Tropical Storm Debby showed signs of weakening.  Oil … Continue reading

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Spain Bond Yields Rise Above 7% –

Yields rose for Spanish bonds and traded above 7% on Monday.  The Euro also came under pressure and traded below $1.26 after rising in early trading.  The Euro also fell in trading against the Japanese Yen.  Election results in Greece worked … Continue reading

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OPEC Holds Output Steady –

OPEC has announced that the production ceiling will remain unchanged at 30 million barrels a day.  OPEC output for the month of May was above the production ceiling at 31.75 million barrels a day.  Global economic growth concerns were a contributing factor … Continue reading

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Crude Oil Falls Below $83 –

Crude oil fell and hit an eight month low in trading on Wednesday.  Crude oil settled at $82.62 a barrel after the Energy Information Administration indicated that crude oil fell 200,000 barrels last week.  In addition, the Organization of Petroleum Exporting Countries will meet … Continue reading

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Stocks Advance –

The Dow Jones Industrial Average came out of the gate strong and gained almost 100 points before pulling back in Monday morning trading.  Traders viewed European support for Spain banks positively and European markets were also higher.  Elections in Greece … Continue reading

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Gold Tumbles –

Gold tumbled in trading on Thursday and fell $46.20 an ounce to $1,588.  Silver and copper also fell in trading on Thursday.  Gold rebounded slightly on Friday and increased $7.10 an ounce. To read a related Bloomberg Businessweek article, please … Continue reading

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Treasury Yields Drop –

Treasury Yields finished the week lower on Thursday as well as Friday.  Yields for the ten year Treasury fell below 1.50% by the end of the week.  Investors shifted to the safety of US Treasuries as concerns grew regarding the European debt crisis.  Yields for German … Continue reading

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