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Wall Street's main indexes posted losses Wednesday, despite early gains driven by Bank of America's success in raising $13.47 billion through a stock offering. The Dow Jones Industrial Average closed at 8,422.04, down 52.81 points, while the Standard & Poor's
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The high-grade primary market in New York reopened on Monday, May 18, 2009, with five companies announcing bond offerings, including ConocoPhillips, Kellogg Co., EOG Resources, AFLAC, and Beckman Coulter. Market participants expect additional deals to surface as investors continue to take advantage of a favorable issuing environment, driven by cheap
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Copper futures fell in May 2009 as participants sold the metal in sympathy with equities and scrap dealers hedged inventory due to concerns about a potential decline in prices. The July copper contract dropped 5.5 cents to settle at $2.0310 a pound on the Comex division of the
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Gold futures ended the trading session with a slightly lower close on Monday, May 11, 2009, due to pressure from a mildly higher US dollar and stable equities. Despite finding some support from declines in equities and other commodities, the metal failed to break out of its range-bound trading. The
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Stronger-than-expected construction and housing data boosted copper futures, with the Comex July copper settling at $2.1440 a pound on the New York Mercantile Exchange. Analysts point to a "better feeling about the economy" developing, with the release of positive construction and pending home sales data. The National
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Despite the ongoing uncertainty and gloom surrounding the US and global economy, with the swine flu outbreak, Chrysler's bankruptcy, and a 6.1% decline in the US GDP in the first quarter, the US markets rose last week. The Dow Jones industrial average (DJIA) closed at 8212.41,
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Crude oil prices ended slightly higher on Thursday, despite a mixed bag of economic data, as the sector continues to grapple with sinking demand and surging supplies. The New York Mercantile Exchange saw light, sweet crude for June delivery settle 15 cents higher, or 0.3%, at $51.15 a
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A global swine flu outbreak triggered a sharp decline in grain prices, with cash prices for corn and soybeans falling to 1-3 week lows. Analysts attribute the drop to reduced feed demand from poultry and pork industries, which could have a lasting impact on livestock producers. Domestic basis for both
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Copper futures experienced a decline on Wednesday as profit-taking and fears of reduced Chinese buying pressured the metal, despite holding support at $2 a pound and stabilizing as equities steadied. July copper fell 1.95 cents to settle at $2.0605 a pound on the Comex division of the New
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The world aluminum output witnessed a 167,000 metric ton increase in March, reaching 2.021 million tons, according to the International Aluminum Institute. This slight uptick comes as the industry faces intense scrutiny due to proposed mergers and declining commodity prices. Meanwhile, Russia has agreed to a $4 billion
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Gold prices have experienced a minor rebound, driven by short-covering and perceived bargain-hunting, following last week's low of $865.00 an ounce. However, prices remain below downtrend lines drawn from February, March, and April highs. For the gold market bulls to gain momentum, a close above $920.00
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Gold futures rose on April 13, 2009, driven by safe-haven buying as investors sought alternative assets amidst the US dollar's weakness and market concerns over General Motors' earnings. The US Treasury's directive to GM to prepare for bankruptcy by June 1 added to the uncertainty,
