Tag: news

By CHRIS KAHN
AP Energy Writer

(AP:NEW YORK) The price of oil fell Friday after reports that China's economy appears to be slowing down.

China, the world's second-largest oil consumer, reported a sharp decline in both investment and industrial production growth in April. A slowdown in China could push oil consumption _ and prices _ lower this year.

Benchmark U.S. crude lost 95 cents to finish at $96.13 in New York. Brent crude, which helps set the price for oil imported into the U.S., lost 47 cents to end at $112.26 per barrel in London.

China's National Bureau of Statistics reported that investment in factory equipment and construction didn't grow as much from January to April as it did in the same period last year. Industrial production rose 9.3 percent in April, compared with a 12 percent increase in March. Continue reading "Oil price declines on slower China growth" →

By The Associated Press

Thursday was the day the Dow Jones industrial clawed its way back into positive territory after six losing days in a row.

The Dow had been on its longest losing streak since August before gaining almost 20 points on Thursday. Stocks got a boost from a drop in new unemployment applications, as well as Spain's move to take over a debt-laden bank. Investors took that as a sign that Spain was working aggressively to avoid needing a bailout. Continue reading "How the major stock indexes fared on Thursday" →

(RTTNews) - During the early Asian session on Thursday, the Australian dollar climbed against its key counterparts after the release of the nation's strong jobs data.

Australia's employment increased unexpectedly in April, the latest figures from the Australian Bureau of Statistics showed today.

The number of employed persons rose by 15,500 to 11.5 million in April after adjusting to seasonal variations. Meanwhile, the number of unemployed persons fell by 28,800 to 598,200. Continue reading "Australian Dollar Strengthens After Upbeat Jobs Data" →

(RTTNews) - Stocks staged a notable recovery attempt after falling sharply in early trading on Wednesday but once again ended the day mostly lower. As was the case in the previous session, uncertainty about the political situation in Europe weighed on the markets.

The major averages ended the day firmly in negative territory, although well off their worst levels of the day. The Dow dropped 97.03 points or 0.8 percent to 12,835.06, the Nasdaq fell 11.56 points or 0.4 percent to 2,934.71, and the S&P 500 slid 9.14 points or 0.7 percent to 1,354.58. Continue reading "Stocks Close Mostly Lower After Failed Recovery Attempt" →

(AP:NEW YORK) A roiling political landscape in Europe pushed U.S. stock futures lower Monday as beleaguered voters in Greece and France rejected years of painful budget cuts.

The Dow Jones industrial average fell 46 points to 12,911. The Standard & Poor's 500 slipped 5.7 points to 1,356.80. The Nasdaq composite index fell 12 points to 2,613.50.

The parliament in Greece is split after elections Sunday and there is no party close to forming a new government. The French ousted President Nicolas Sarkozy, part of a wave of unrest over budget cuts as unemployment spirals higher and social services and safety nets evaporate.

Elected in Sarkozy's place was Socialist Francois Hollande, who pledged immediately "to finish with austerity." Continue reading "US stock futures fall after European elections" →