Wednesday, June 25, 2008
U.S. stocks solidify gains as price of oil drops
U.S. stocks solidify gains as price of oil drops
U.S. stocks on Wednesday solidify gains as the price of crude oil slid
to under $133 a barrel, with investors awaiting comments from the
Federal Reserve, which is expected to voice worries about inflation and
the struggling economy.
Futures Movers: Oil futures drop as U.S. crude supply logs first rise in
6 weeks
Crude-oil futures drop as much as $5 a barrel after a government report
shows that supplies of crude rose unexpectedly for the first time in six
weeks and demand for petroleum products have fallen more than 2% in the
past month.
Monsanto ups '08 view on robust quarter, but shares sink
As Monsanto Co.'s third-quarter earnings grow 42%, the company raises
its profit outlook for fiscal 2008.
Financial Stocks: Countrywide suit, takeover vote in focus as Fed
decision looms
Financial stocks advance as strong gains by regional bank stocks helped
to lift the sector ahead of a Federal Reserve policy statement that
might shape the outlook for U.S. inflation and economic growth.
Potential for Fed rate hikes another reason mortgages are pricy
Expectations the Federal Reserve will raise benchmark interest rates is
not helping the housing market, which is likely to stumble along for
months as long as homeowners find it costly to borrow.
