Last week was another bad week for the market. The market is on a downward spiral. It will come up as fast as it went down. We will see some of that within a few weeks. I am sick to my stomach to see AIG is gaining ground over the last few sessions. How wrong was I? I was under the impression that AIG will continue to go down.
OPC will turn around soon, I am sure. It’s just a patience game.
The projects are very quite in Fort McMurray, I am sure it will change. The question is when? How long can we really wait?
- Oil prices rose above $60 a barrel on Monday, halting last week's falling trend, as investors turned to commodities for protection against a weaker dollar and after attacks on oil facilities in Nigeria. By mid-afternoon in Europe, benchmark crude for August delivery was up 19 cents to $60.08 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the contract fell 52 cents to settle at $59.89.
- NEW YORK (AP) -- Investors are waiting for corporate earnings reports to arrive before they push into stocks. Stocks turned lower early Monday as investors awaited earnings reports this week, including key results from banks.Investors have been cautious as they prepare for earnings reports this week. Banks have been among the most hurt companies since the recession began in late 2007 as investment and loan losses piled up.
OPC will turn around soon, I am sure. It’s just a patience game.
The projects are very quite in Fort McMurray, I am sure it will change. The question is when? How long can we really wait?
- Oil prices rose above $60 a barrel on Monday, halting last week's falling trend, as investors turned to commodities for protection against a weaker dollar and after attacks on oil facilities in Nigeria. By mid-afternoon in Europe, benchmark crude for August delivery was up 19 cents to $60.08 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the contract fell 52 cents to settle at $59.89.
- NEW YORK (AP) -- Investors are waiting for corporate earnings reports to arrive before they push into stocks. Stocks turned lower early Monday as investors awaited earnings reports this week, including key results from banks.Investors have been cautious as they prepare for earnings reports this week. Banks have been among the most hurt companies since the recession began in late 2007 as investment and loan losses piled up.
Financial shares got a boost after banking analyst Meredith Whitney said on CNBC that she was upgrading her view on Goldman Sachs Group Inc., which has long been considered the strongest bank amid the economic downturn. She also noted Bank of America Corp., one of the hardest hit by mounting loan losses, could provide value for investors.
Goldman Sachs, Bank of America, JPMorgan Chase & Co., and Citigroup Inc. are all scheduled to report second-quarter results this week.
- TOKYO (AP) -- Japan's top two beverage makers, Kirin and Suntory, are considering merging their operations, a Suntory spokesman said Monday.
A merger would create the world's fifth largest food company by sales, just behind Kraft Foods Inc. and Pepsico Inc., the Nikkei business newspaper reported. It also would help the companies overcome a saturated domestic market with an aging population and compete more strongly with large international brands.
- America's Five Most Overpriced Cars
1. Dodge Ram 2500
2. Mercury Grand Marquis
3. Jeep Liberty
4. Dodge Nitro
5. Dodge Durango
- OTTAWA (Reuters) – Trade and employment data showed Canada still mired in recession at the middle of this year, and virtually guaranteed that the Bank of Canada would keep interest rates at rock bottom until mid-2010. Figures from Statistics Canada showed that fewer people lost their jobs in June than analysts had expected.
But that appeared to be due largely to what one analyst dubbed a "do-it-yourself recovery" -- people trickling back to work through self-employment or in part-time jobs while full-time job creation was scarce. Net job losses in June totaled 7,400 and the unemployment rate rose to 8.6 percent from 8.4 percent in May, the highest since February 1998, Statscan said on Friday.
The data triggered a short-lived rise in the Canadian dollar, but the mood darkened on closer look at the report. "The good news, such as it is, stops at the headline," said Doug Porter, deputy chief economist at BMO Capital Markets.
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