Friday, May 23, 2008
U.S. stocks end week sharply lower as oil surges
U.S. stocks end week sharply lower as oil surges
U.S. stocks finish with losses for the day and tumble sharply on the
week, as crude oil surges above $130 a barrel, putting pressure on a
market beseiged by worries that inflation will crimp consumpation and
further weaken the economy.
Futures Movers: Natural-gas futures near $12, close with an almost 7%
weekly gain
Natural-gas futures climb closer to $12 per million British thermal
units Friday, as concerns about the potential for disrupted output
during the Atlantic hurricane season feed a rally that lifted prices for
the commodity by almost 7% for the week.
Telecom Report: AT&T, Verizon bet they'll catch Sprint in 4-G wireless
race
"My network's better than your network." So goes the playground-like
argument that's raging in the telecom industry's fierce competition for
customers in "fourth-generation" wireless service.
Anheuser-Busch shares bounce on report of takeover bid
Shares of Anheuser-Busch pop after a published report says the brewer
could be the target of a takeover attempt by rival InBev.
