Friday, January 11, 2008
Gold tops $900 on possible rate-cut; up $32 in week
Gold tops $900 on possible rate-cut; up $32 in week
Gold futures nudged to within 10 cents of the $900 per-ounce level in
electronic trading Friday, extending a record run after comments by
Federal Reserve Chairman Ben Bernanke were widely interpreted as
signaling further rate cuts.
Market Snapshot: Stocks close sharply lower; Dow off 658 points since
year began
U.S. stocks dropped steeply on Friday, socking the Dow industrials with
triple-digit losses, as write-downs in the financial sector signaled
slowing consumer spending and sparked more talk of a recession.
Economic Report: U.S. import prices unchanged in December
WASHINGTON
Prices of goods imported into the United States were unchanged in
December after rising by an upwardly revised 3.3% in November, the Labor
Department reported Friday.
Capitol Report: Dramatic change of tone at the Federal Reserve
SAN FRANCISCO
It looks like the Federal Reserve might finally get it: the risks of a
recession outweigh the risks of inflation.
Bank of America to buy Countrywide Financial for $4 billion
Bank of America said Friday it's buying Countrywide Financial for $4
billion, confirming rumors that first emerged Thursday, in a move that
will make it the top mortgage lender and loan servicer in the U.S.
