commodities

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Oil Sinks to $83 on Global Panic

(Newser) - Oil prices plummeted to a one-year low below $83 a barrel today in European trading as investor fears of a severe global economic downturn sparked a panicked sell-off. "The whole market has lost confidence in everything," said one commodities strategist. "Everyone is worried about global growth, and...

Industrial Firms Lead Recovery
 Industrial Firms Lead Recovery 
MARKETS
Sep 10, 2008 3:42 PM CDT

Industrial Firms Lead Recovery

(Newser) - Stocks rebounded from yesterday's miserable day to close with mild gains, MarketWatch reports. Energy and industrial firms did well after yesterday's huge sell-off, but concerns about Lehman Brothers continued to weigh on the financial sector. The Dow closed up 38.19 points at 11,268.92, the Nasdaq rose 18....

Oil Prices Drop for 4th Day on Minimal Gustav Damage

Slowing demand drops crude to $108

(Newser) - Oil prices dipped to just above $108 a barrel today after Hurricane Gustav left oil installations in the Gulf of Mexico largely undamaged. By midday in Europe, light, sweet crude for October delivery was down $1.50 on the New York Mercantile Exchange as the dollar continued to strengthen and...

Stocks Mixed as Oil Surges
 Stocks Mixed as Oil Surges 
MARKETS
Aug 21, 2008 3:22 PM CDT

Stocks Mixed as Oil Surges

Georgian conflict raises supply fears; analysts downgrade financials

(Newser) - Stocks saw mixed results today as the Dow and S&P 500 managed to claw back from early losses due to surging oil and a weak dollar, the Wall Street Journal reports. The Dow closed up 12.78 at 11,430.21; the Nasdaq fell 8.70 to 2,380....

Farms Fuel Boom in US Exports
 Farms Fuel Boom in US Exports
Aug 18, 2008 9:21 AM CDT

Farms Fuel Boom in US Exports

Strengthening dollar could trim growth of sales abroad

(Newser) - Worldwide demand for grain and a weak US dollar helped drive exports up 7.1% in the first half of the year, providing a respite from the barrage of negative economic news. But experts warn the commodity-driven rise could be brief, reports the New York Times. Export surges of agricultural...

Hershey Boosts Prices by 10% as Costs Rise

(Newser) - Chocolate maker Hershey said today it is raising prices by about 10% to offset the new costs of ingredients, Reuters reports. Commodities like cocoa and peanuts are up between 20% and 45%, it said, yet one analyst called the price hike a "real surprise." The candy giant also...

Stocks Mixed; Commodities Fall
 Stocks Mixed; Commodities Fall
MARKETS
Aug 15, 2008 3:43 PM CDT

Stocks Mixed; Commodities Fall

(Newser) - The markets ended mixed today as commodities fell across the board, leaving traders unsure of the larger ramifications for the economy, MarketWatch reports. The Dow gained 43.97 points to close at 11,659.90, the Nasdaq slid 1.15 points to 2,452,52, and the S&P 500...

Harvard's Endowment Shines in Tough Financial Year

$35B fund sees modest 7%-9% growth

(Newser) - Harvard’s endowment did better than most in the down market, reports the Wall Street Journal. The $35 billion fund, which ended its fiscal year in June, earned 7% to 9%. “That would be easily the best performer among the foundations and endowments that we track," says a...

Corn Prices Leave Catfish Farmers Gasping

Southern farmers abandon fish biz as feed prices triple

(Newser) - The soaring price of corn and soybeans is moving up the food chain and drying up the South's catfish farming industry, reports the New York Times. Farmers are draining their ponds as the cost of feeding the fish becomes prohibitive. In the Mississippi Delta, heartland of the relatively new industry,...

Booming China Flexing Its M&A Muscle

Chinese companies snap up $42B in foreign assets so far in 2008

(Newser) - Chinese companies are on a buying binge, snapping up $42 billion worth of foreign assets in the first 6 months of 2008. That's a 500% increase over the previous year, and equal to the combined value of takeovers from 2000 to 2006, reports DealBook in the New York Times. And,...

Amid Selloff, Gold King Won't Flush His Throne

Hong Kong merchant melts down palace to capitalize on rising prices ... except for toilet

(Newser) - With gold prices hovering around $1,000 an ounce, one Hong Kong jeweler is melting down the shining palace he spent a decade building, unloading chandeliers and armored knights—everything but his 24-karat toilet, the Wall Street Journal reports. "I don't care if gold hits $10,000 an ounce,...

Where's Oil Money Going? Maybe to Your Pension

Petroleum proceeds boost retirement funds

(Newser) - Wall Street brokers and energy speculators aren’t the only ones lining their pockets thanks to skyrocketing oil prices, the Washington Post reports. Many pension funds have pushed heavily into commodities, bringing big returns in a time of economic strife. “Our commodity investment has really helped,” said the...

Speculators Didn't Do It
Speculators Didn't Do It
Opinion
Jul 5, 2008 7:21 PM CDT

Speculators Didn't Do It

Traders take blame for high oil prices, but global demand is the real culprit

(Newser) - Politicians are blaming high oil prices on an old scapegoat: speculators, writes Dean Barnett in the Weekly Standard. But if speculators were hoarding oil, it would be stockpiled, and inventories would soar. Instead, inventories remain constant. This is obvious "to anyone who took an introductory economics class," Barnett...

Grain Prices Surge With Midwest Floods

Water inundating heartland expected to drive food, oil prices still higher

(Newser) - The floods inundating the Midwest are pushing grain prices to new highs, the Wall Street Journal reports. Corn prices jumped 10% to a record high last week as farmland flooded. The domino effects will hit the ethanol industry, hog farmers, and even owners of catfish ponds who rely on corn...

As Prices Soar, Congress Aims at Speculators

Out-of-control traders may be driving up oil, food costs, pols say

(Newser) - Congress is blaming rampant commodity speculation for rocketing gas and food prices, and berating regulators for letting it happen, the New York Times reports. Unless watchdog groups like the Commodities Futures Trading Commision crack down, Carl Levin says, "we don’t have a cop on the beat.." Joe...

US Economy Isn't Bouncing Back
 US Economy Isn't
 Bouncing Back 
analysis
Jun 8, 2008 5:11 PM CDT

US Economy Isn't Bouncing Back

Fed cuts, stimulus package won't do the trick

(Newser) - Forget those predictions of a US economic revival in 2008, Daniel Gross writes in Newsweek. The four horsemen of the economy—credit and housing crises, food and energy prices—are getting meaner, while booming commodities and crunching credit are curbing attempts to fight back. "As a result, the consumer-driven...

Mixed Day Yields Mixed Results
 Mixed Day Yields Mixed Results 
MARKETS
May 30, 2008 3:30 PM CDT

Mixed Day Yields Mixed Results

Dell performance rallies tech; Commerce Department gives bad news

(Newser) - Stocks ended mixed after a seesaw session today, with strong performance by tech and energy shares contrasting with bad news on consumer spending and incomes, MarketWatch reports. The Dow closed down 7.90 at 12,638.32. The Nasdaq gained 14.34 to 2,522.66, while the S&P...

Slumping Popcorn Sales Will Pop Ticket Prices

Film fans who balk at $6 popcorn will be coughing up more at the door

(Newser) - Movie tickets have long been partly subsidized by popcorn sales, but that business model is set to pop as the price of corn soars, Advertising Age reports. As moviegoers pass up the pricey snack, cinemas will need to hike ticket charges to cover the difference. One expert on the movie...

Congress Turns on Speculators in Oil Bubble

Legislators push regulation in effort to slow gushing prices

(Newser) - It’s not OPEC pulling oil prices to ever greater-heights—it’s speculators. That’s the theory behind the Consumer-First Energy Act, a bill sponsored by Senate Democrats aimed at clamping down on runaway oil futures trading. As stocks fall, investors are fleeing to commodities, especially oil. But even the...

Markets See Gains From Retail
 Markets See Gains From Retail 
MARKETS
May 8, 2008 3:23 PM CDT

Markets See Gains From Retail

But oil trades at $123.69, limiting rally

(Newser) - The markets achieved solid gains today as better-than-expected sales from big-box discount retailers encouraged investors worried over oil prices still in record territory, the Wall Street Journal reports. The Dow gained 52.43 to close at 12,866.78, while the Nasdaq rose 12.75 to 2,451.24. The...

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