Category Archives: Economic News

Manufacturing Data Sends Crude Oil Lower –

Crude oil futures for October declined $1.17 after data from the Institute for Supply Management.  The purchasing managers index fell to 49.6 which is the lowest the index has been since July 2009.  A weak global economy has also contributed to … Continue reading

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Gold & Silver Increase –

Gold and silver increased after confidence rose following a European Union summit.  European Union leaders agreed to work at lowering the borrowing costs for Italy and Spain.  Gold rose 3% and settled slightly below $1,600 an ounce.  Silver increased by more … Continue reading

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Crude Oil Rebounds Slightly –

Crude oil rebounded slightly in Tuesday trading after falling 4% on Monday.  Manufacturing data from China helped to boost the price of crude oil which settled at $88.50 a barrel.  Euro zone economies are still weighing on the market with Eurpoean manufacturing numbers … Continue reading

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Import Prices Fall –

Import prices in June fell by the most since December 2008.  The drop in import prices was the sixth decline in the last seven months.  Import prices were driven lower by a drop in the cost of imported oil. To read … Continue reading

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Euro & Oil Rise –

The Euro climbed in trading on Monday and rebounded from lows reached on Friday.  The rally may be brief and the Euro could come under more pressure before the end of the summer.  Oil also rose on Monday with Brent crude … Continue reading

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Treasury Yields Shift On EU Agreement –

Treasury yields rose on the recent European Union agreement for Spain and Italy.  Treasury yields were trading late last week at slightly under 1.65%.  However, Treasury yields may reverse in the near term as investors evaluate economic conditions in the … Continue reading

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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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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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