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Gold and Oil News - January 2, 2008 23:49
Crude oil hits record $100 for first time
Crude oil hits record $100 for first time By Edmund Conway, Economics Editor Crude oil has hit the $100 milestone for the first time in history, as a host of commodities smashed through record levels. Analysts warned that inflation and high energy prices would remain a key threat on the Source: c.moreover.com
Year starts sour on weak factory data, $100 oil (Reuters)
Year starts sour on weak factory data, $100 oil (Reuters) Reuters – U.S. stocks sank on Wednesday, with the Dow getting off to its worst-ever start to a year, after data showed a surprise contraction in manufacturing and oil surged to $100 a barrel, raising the specter of stagflation. Source: news.yahoo.com
Crude oil hits record $100 for first time
By Edmund Conway, Economics Editor Crude oil has hit the $100 milestone for the first time in history, as a host of commodities smashed through record levels. Analysts warned that inflation and high energy prices would remain a key threat on the Read More…
Mixed housing market reports close 2007, 2008 financial markets prompt concern.
The National Association of Realtors (NAR) announced today that November existing home sales were up .4%, the first such increase in nine months. This is the second positive report from November’s housing market as last week it was reported that foreclosures fell 10% during the month.
Oil and Gold prices near record highs with Bhutto assassination
Oil and gold prices both hover just below all time highs as of this morning (December 27), following the assassination of Pakistani opposition leader Benazir Bhutto. As with any political assassination, unrest tends to have an impact on world pricing depending on the location and nature of the tragic event.
Is This Lack Of Worry Normal?
There can be little doubt that even as the stresses in the credit market have spilled over into other financial markets, the reaction of the public has been muted. In the UK, other than the collapse of Northern Rock hitting the headlines, the credit crunch has been largely ignored. In the US the picture is […]
New Year’s resolutions for US housing market
As 2007 comes to an end, many investors, home owners, and creditors in the US are hoping for a strong turnaround in housing and mortgages for 2008. While there are still opportunities for the markets to extend their slumps into the New Year, there are some signs of hope and some reasons to believe the […]
Mortgage rates hold historic lows as foreclosures fall in November
According to Bankrate.com surveys, conventional 30-year and 15-year fixed mortgage loan rates remain near all time lows since average rate data was first collected (1985). This week’s average 30-year fixed loan rate is 5.8%, virtually steady from last week, while the popular refinance loan, the 15-year fixed rate dropped three basis points from the prior […]
Credit Default Swaps – An Example In Real Time
In that almost mystical way in which co-incidence happens, a real time occurrence of the risks I outlined in A Beginners Guide To Credit Default Swaps has appeared. With excellent timing S&P downgraded the rating of ACA Capital Holdings Inc to CCC or, as it is known, junk. Whilst not a happy occurrence, it does […]
Oil still threatens $100, US government passes new fuel efficiency standards
An announcement this morning that Turkish soldiers went into northern Iraq to go after Kurdish rebels sparked a rise of nearly $2.00 in crude oil trade this morning (December 18), a 1.9% gain. Crude oil has fallen back slightly after approaching $100 per barrel during November.
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