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After jobs report Oil sinks nearly 3%

Admin — Sun, 08 Nov 2009 00:06:49 +0000

Futures fall more than $2 a barrel after the U.S. government says unemployment jumped to 10.2% in October. Oil prices fell almost 3% near $77 a barrel Friday after data showed the U.S. jobless rate jumped to a 26-1/2-year high of 10.2% in October, raising concerns about a potential rebound in fuel demand.

The Labor Department said employers cut 190,000 jobs in October, more than the 175,000 that markets had expected but fewer than the 219,000 lost in September.

Energy markets have been watching economic data for signs of recovery from the recession that slammed fuel consumption. [Full Story]

Meet the new leaders of banking CNNMoney

Admin — Sat, 07 Nov 2009 01:10:43 +0000

JPMorgan and Wells may steal the headlines. But smaller banks like Chicago’s MB Financial and L.A.’s City National are quietly rising through the ranks.

JPMorgan Chase, Wells Fargo and other bank behemoths have bulked up over the past year. But they’re not the only ones getting bigger these days.

Dozens of small banks that were otherwise anonymous in the years leading up to the financial crisis have also enjoyed robust growth in recent months. [Full Story]

Stocks rise on day, week Oil prices slump as dollar churns

Admin — Sat, 07 Nov 2009 01:03:43 +0000

Stocks concluded a airy affair college Friday, on bets that the unemployment rate’s fasten to a 26-year aerial agency the affliction for the activity bazaar has already happened.

Analyst upgrades of Dow basic General Electric and Nasdaq heavy-hitter Amazon.com and sliding oil prices were additionally in the mix.

The Dow Jones automated boilerplate (INDU) added 17 points, or 0.2%, closing at 10,023.43. The S&P 500 (SPX) acquired 3 credibility or 0.3%, and the Nasdaq blended (COMP) rose 7 points, or 0.3%. [Full Story]