Friday, June 06, 2008
U.S. stock indexes end with stiff losses on spike in oil prices
U.S. stock indexes end with stiff losses on spike in oil prices
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 jumps atop $139 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.
Futures Movers: Oil up almost $11 to mark its biggest daily dollar gain
on record
Oil prices shoot higher by almost $11 a barrel, scoring their biggest
one-day gain in dollar terms.
Icahn names a price for Yahoo; company says move 'ill-advised'
The proxy war between Yahoo and Carl Icahn escalates as the billionaire
investor publicly states a price that he believes the Web portal should
offer to Microsoft in exchange for a buyout deal.
Currencies: Jobless data shocker knocks greenback to its knees
The dollar extends losses against major counterparts Friday, after a
surprising rise in the jobless rate all but quashes hopes of a U.S.
interest rate hike this year.
