Wall St. Ends Weeks with uptick
Major indexes staged a late rally to finish higher Friday, capping a rather volatile session where investors closely eyed corporate earnings and attempted to gauge the Federal Reserve's next step.

Techs pace early stock advance
U.S. stocks got a lift at Friday's open from some developments in the tech sector, particularly an investment in Advanced Micro Devices and a Cisco Systems buyback plan.

Oil prices break $95
Oil prices rose above $95 a barrel Friday amid expectations that global crude supplies will remain tight, despite a U.S. oil inventory report that showed a surprising increase in domestic crude stockpiles.

Copper Rises On Short-Covering; Gold Dips As Oil Pops Back To $95
Copper touched a three-month low on Friday, hit by falling equity markets and worries about weakening demand before short-covering pushed prices into positive terrain ahead of the session's close.
Gold ended a tad lower in New York on Friday, capping an extremely volatile week, as investors opted to lock in profits after initially hunting for bargains based on a weaker dollar and rising crude oil prices.

Goldman: U.S. may Face $2 Trillion lending shock
The impact of the U.S. mortgage market crisis on the underlying economy could be "dramatic" as leveraged investors may need to scale back lending by up to $2 trillion, according to investment bank Goldman Sachs (GS.N: Quote, Profile, Research).

FedEx stock falls after high oil cost and economic outlook
Package delivery company FedEx Corp (FDX.N: Quote, Profile, Research) cut its earnings forecast for the current quarter on Friday, citing higher fuel prices and weaker demand for ground shipments too small to fill a truck.

Citigroup names Bushnell as new Corporate Risk Officer
Citigroup Inc. replaced David Bushnell as chief risk officer, two weeks after the largest U.S. bank said writedowns on mortgage-related investments may lead to its first quarterly loss since at least 1998.

Google Prepares $4.6bn for Wireless Spectrum
Google has indicated it is likely to press ahead with a multi-billion-dollar bid for a slice of the US airwaves in order to launch a nationwide wireless broadband network. Today a spokesman told Times Online that the group was taking "all necessary preparations to become an applicant in the auction".

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This entry was posted by David Choi, on Friday, November 16, 2007. You can leave your response.