Dow cashes in Black Friday despite weak volume
Stocks rallied in light trading Friday, with the Dow closing up more than 180 points, as investors sought deals in the battered financial sector and retailers got a bounce out of Black Friday shopping. Stocks perked up in a Black Friday-shortened session, as retailers and financials led the way.

Oil posts closing record to $98.18
Oil futures resumed their march toward $100 a barrel Friday, rising to a new record settlement in light holiday trading on concerns about tight heating oil supplies while also drawing support from a buoyant stock market.

Dollar hits new low against Euro
The dollar hit a new low against the euro in thin trading Friday as speculation continued that the American credit crisis will lead to another cut in interest rates in the U.S.

Gold piles on gain amid dollar weakness
Gold futures rose for a third day, closing up $26 an ounce in an abbreviated post-holiday session after the dollar touched a new low against the euro, increasing the value of gold as an investment safe haven.

Greenspans says flexibility cut possibilities of recession
The economy's great flexibility has reduced the risk of recession from the subprime mortgage crisis, former Federal Reserve Chairman Alan Greenspan said on Friday.

EADS says weak dollars threatens Airbus
The sharp decline of the U.S. dollar poses an "existential" long-term threat to Airbus that will force it to shift production to dollar-zone countries and rein in development plans, the head of Airbus parent EADS said.

Freddie Mac to raise $5 bln in preferred stock sale
Freddie Mac (FRE.N: Quote, Profile, Research), the U.S. mortgage finance company that stunned Wall Street with a $2 billion quarterly loss earlier this week, plans to sell $5 billion of preferred stock in a deal to be launched as early as next week, the Wall Street Journal said on Friday.

E*Trade may be in talks with other brokers
Online brokerage E*Trade Financial Corp (ETFC.O: Quote, Profile, Research) is believed to be in merger talks with Charles Schwab Corp (SCHW.O: Quote, Profile, Research) and TD Ameritrade Holding Corp (AMTD.O: Quote, Profile, Research), according to a report on Friday on business news channel CNBC.

Online Retailers roll out sales for "Cyber Monday"
Consumers are expected to plant themselves at their computers and make online holiday purchases Monday, a day that has become increasingly important to retailers and shoppers alike.

EU officials to talk tough on trade in China
Top European Union officials will talk tough in Beijing next week about China's snowballing trade surplus and its reluctance to open its booming economy further to European business.

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This entry was posted by David Choi, on Saturday, November 24, 2007. You can leave your response.