Monday, October 15, 2007
U.S. stocks close with losses as oil price rise fuels worries
DJIA
13,984
-108.28
S&P
1,548
-13.09
NASDAQ
2,780
-25.63
10Yr
4.67%
-0.014
U.S. stocks close with losses as oil price rise fuels worries
NEW YORK
U.S. stocks thudded lower Monday, with record oil prices catching
negative attention from investors also contending with a warning from
Citigroup Inc. that the credit crunch could harm fourth-quarter results
of the nation's largest bank.
Oil surges to close above record $86 a barrel on supply fears
SAN FRANCISCO
Crude-oil futures closed in uncharted territory Monday above $86 a
barrel, as the market continued to take momentum from supply concerns
due to risks to production in the Middle East and declines in U.S. crude
inventories.
CEO calls Citi's quarter 'disappointing' as net drops 57%
NEW YORK
Citigroup Inc. said Monday that profit for the third quarter fell 57%
after accounting for previously announced write-downs for bad loans and
other credit issues.
Banks' fund to aid credit markets seen as modest first step
WASHINGTON
A plan by big U.S. banks to create a special fund to help guarantee
liquidity in the commercial paper markets drew mixed responses Monday,
as its backers in the U.S. government said the proposal is a temporary
step to help markets get back on their feet.
Commodities Corner: China is zinc's key to price strength
HONG KONG
Zinc prices have been on a tear in the past few years and growth in
China has and will continue to be the key to the metal's strength.
