Monday, August 18, 2008
U.S. stocks fall as oil rises, financials woes return
U.S. stocks fall as oil rises, financials woes return
U.S. stocks drop as rising crude oil prices fuel uncertainty about the
economy, while worries about ailing financials are rekindled by several
media reports.
Futures Movers: Oil futures rise on storm concerns, dollar weakness
Crude-oil futures rose more than 1% Monday, boosted by dollar weakness
and lingering worries that Tropical Storm Fay may hit oil installations
in the Gulf of Mexico.
Currencies: Dollar regains some lost ground; steady in recent ranges
The dollar reclaims some lost ground against the euro, while remaining
in recent ranges against most other major currencies.
ETF Focus: Small caps in market's sweet spot during rally
Small-cap stocks have enjoyed big returns during the unlikely market
upswing this summer, and many investors are gaming the action with
exchange-traded funds.
Housing malaise eats into Lowe's profit
Lowe's Cos. says that its second-quarter profit fell 7.9%, hurt by the
housing market downturn, which cut into demand for cabinets, countertops
and other big-ticket purchases.
