Friday, June 06, 2008
Stocks drop sharply as jobless rate and oil prices jump
Stocks drop sharply as jobless rate and oil prices jump
U.S. stocks drop sharply after the government says the nation's jobless
rate in May soared to 5.5%, the highest since October 2004, and as the
price of crude-oil futures shot to around $134 a barrel.
Economic Report: Jobless rate soars to 5.5% in largest jump since 1975
The U.S. unemployment rate jumps all the way to 5.5% in May, surprising
economists with the biggest increase in seasonally adjusted unemployment
in 33 years.
National City reportedly faces closer regulatory scrutiny
National City Corp.'s banking unit is facing closer scrutiny from
federal regulators after entering into a memorandum of understanding
that effectively puts the group on probation, according to a report.
Commodities Corner: Silver's more than a sparkle in investors' eyes
Silver has been notorious for moving in tandem with gold, but silver
prices have yet to trade anywhere near their record level.
Why the dollar still reigns in Chavez's Venezuela
While the U.S. dollar's reputation has taken a bruising in many of the
world's financial capitals, in Venezuela the fallen-from-fashion
greenback reigns supreme.
