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here we go
Oil jumps above $40 on Gaza conflict
Oil jumps for second day to above $40 on Israeli air attacks in Gaza
George Jahn, Associated Press Writer
Monday December 29, 2008, 7:05 am EST
Yahoo! Buzz Print .VIENNA, Austria (AP) -- Tensions generated by a widening conflict between Israel and Palestinian militants sent crude prices up sharply to above $40 a barrel Monday, with gasoline and heating oil also making sizable gains.
A van drives past a petrol station in Bayonne, southwestern France, Sunday, Dec. 28, 2008, with a board showing the retail price for regular unleaded at euro0.999 (USD1.42). Retail gasoline prices tumbled Friday, Dec. 26, 2008 to the lowest level in nearly five years. And while crude futures rose, analysts believed it was a temporary pause in an extended, downward arc as the recession spreads. (AP Photo/Bob Edme)
Prices also were supported by indications that key OPEC members were acting on commitments to cut back production, in line with a decision earlier this month to take a daily 2.2 million barrels off the market.
Light, sweet crude for February delivery rose $2.56 to $40.27 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. The contract on Friday rose $2.36 to settle at $37.71.
Israel expanded its deadliest-ever air offensive against Gaza's Hamas rulers Sunday and prepared for a possible ground invasion. Arab leaders protested the attacks and Syria broke off indirect peace talks with the Jewish state.
With the two-day death toll nearing 300, Hamas fired rockets deeper than ever into Israel.
"There could be fear that an escalating Middle East conflict could disrupt supplies, though I don't see that happening at this point," said Gerard Rigby, energy analyst with Fuel First Consulting in Sydney. "(Israel-Palestinian conflict) always causes a bit of a blip and is one component that could support prices short-term."
In Vienna, JBC Energy, in its daily newsletter, said prices were also "supported by news that the UAE has decided to reduce crude supplies in January and February in line with the OPEC production cuts." The United Arab Emirates are the fourth-largest producers in the 13-nation cartel.
But any recovery could have its limits.
Oil prices have fallen 73 percent since peaking at $147.27 a barrel on July 11 as a credit crisis in the U.S. sparked a steep drop-off in consumer demand and corporate earnings. And analysts expect more dismal economic news from the fourth quarter over the next few weeks.
"More bad profit reports, jobs reports, housing results will put pressure on prices," Rigby said. "Once Obama comes in, that might start changing sentiment and generate more optimism." Barack Obama is scheduled to be sworn in as U.S. president on Jan. 20.
Trading volumes have been low as many traders take off the week between Christmas and New Year's Day.
In other Nymex trading, gasoline futures gained more than 7 cents to 92 cents a gallon. Heating oil rose by close to 10 cents to fetch 3.30 cents to $1.34 a gallon, while natural gas for January delivery jumped more than 14 cents to $5.97 per 1,000 cubic feet.
In London, February Brent crude rose $2.98 to $41.35 a barrel on the ICE Futures exchange.
Associated Press writer Alex Kennedy contributed to this article from Singapore
yep thank good
good morning !!
today good be a good day
when the dollar goes down gold goes up
Stocks signal higher open as oil prices rise
Monday December 29, 8:07 am ET
By Tim Paradis, AP Business Writer
Wall Street points to moderately higher open as oil prices rise amid tension in Middle East
NEW YORK (AP) -- Wall Street took comfort from a rise in oil prices and headed toward a higher open Monday, though investors remained cautious as Israel continued its attack on Gaza for a third day.
Oil rose above $40 a barrel Monday after the conflict between Israel and Gaza's Hamas rulers raised tensions in the Middle East. Light, sweet crude rose $2.52 to $40.23 a barrel in premarket electronic trading on the New York Mercantile Exchange.
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The advance in oil was welcome for some investors who have worried that plunging prices signaled a long and severe recession. Oil has fallen more than $100 from its peak of $147.27 a barrel on July 11 as a slowing economy curbed demand. While Monday's advance came amid unease in the Middle East, the increase helped oil companies, with Exxon Mobil Corp. shares up 1.5 percent in the premarket session.
Investors also digested a potential blow to dealmaking on Wall Street. On Sunday, Kuwait's government canceled its $17.4 billion K-Dow Petrochemicals joint venture with Dow Chemical Co., saying it was "very risky" because of the global financial crisis and low oil prices. The joint venture was set to begin Thursday.
Rohm & Haas Co. maintains that its proposed $15.3 billion takeover by Dow Chemical won't be affected by Dow's substantial loss of income from the venture. But investors punished shares in premarket trading, driving them down 19 percent to $51.25, compared with their Friday close of $63.56. Dow Chemical shares lost 6.2 percent.
Dow Jones industrial average futures rose 30, or 0.35 percent, to 8,502. Standard & Poor's 500 index futures rose 3.00, or 0.35 percent, to 871.90, while Nasdaq 100 index futures rose 7.50, or 0.63 percent, to 1,196.00.
Bond prices also rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.12 percent from 2.14 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.02 percent from 0.01 percent late Friday.
With little economic data due, the dollar was mixed against other major currencies. Gold prices rose.
Overseas, Japan's Nikkei stock average rose 0.09 percent. In afternoon trading, Britain's FTSE 100 rose 2.46 percent, Germany's DAX index rose 2.22 percent, and France's CAC-40 rose 1.23 percent.
New York Stock Exchange: http://www.nyse.com
Nasdaq Stock Market: http://www.nasdaq.com
hello shakerzzz good morning what do you got going today
good morning all
good morning
ENJOY THE WEEKEND
thank you nice board
'EDWARD STEVENSON' check out PSPF .04 X .05
wow looking good
today is a dead day
time will tell
looks like the run might be over
nice vol today
SRSR is tacking OFF
ok thnx radaring it
.085 x .089
every bit counts
great day to get in
market makers are gonna cover there shorts
crzy .09 bid now
nobody is around to today
people are still away
lets take him out
yeah he is on both sides
Retailers slash prices to entice holiday shoppers
Friday December 26, 9:19 am ET
By Lauren Shepherd, AP Business Writer
Retailers slash prices for recession-weary shoppers, sales unlikely to save dismal season
NEW YORK (AP) -- Shoppers hit the stores early Friday to return unwanted gifts and take advantage of drastic price cuts offered by retailers desperate to get rid of old merchandise and boost their less-than-cheery holiday sales.
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Many retailers opened before 6 a.m., offering deals like 50 percent to 75 percent off on toys, furniture, electronics and clothing. J.C. Penney opened at 5:30 a.m. -- the earliest post-Christmas opening in the chain's history -- and offered customers more than 100 "doorbusters" until 1 p.m, including 75 percent off Christmas decorations. The chain even made wake-up calls to customers who signed up online.
Laura Hernandez, a 37-year-old nurse, hoped to find a good deal at a Miami-area Wal-Mart on the one present her husband and son had really wanted -- a plasma TV.
"When they saw that there was no Christmas gift larger than the Christmas tree, they knew there was no TV," Hernandez said. "They know Mommy is out early this morning bringing home their new toy."
Lisa Gillespie, 42, was meeting her niece to buy her a late Christmas present at Macy's flagship store in Manhattan. She found a purse for $20 in a bin marked 65 percent off.
"Even if I don't end up liking it, I can always bring it back," the Manhattan resident said. "These are crazy deals. I have eight coupons. We won't overshop, but we will shop."
Stores were hoping the discounts would entice shoppers to redeem gift cards and use cash from returning unwanted gifts to buy something new.
But with gift card sales down this holiday season and consumers looking to save money rather than spend it, even the big discounts may not be enough to salvage what looks to be one of the most dismal holiday shopping seasons in years.
"The last week of December represents about 14 percent of Christmas sales," said C. Britt Beemer, chairman of America's Research Group. "You can't save a season with only one-seventh of the sales to go."
The holiday season -- which typically accounts for 30 percent to 50 percent of a retailer's annual total sales -- has been less than jolly for most retailers. Job cuts, portfolio losses and other economic woes have convinced consumers to cut back on their spending. Meanwhile, strong winter storms during the holiday season kept some would-be shoppers at home.
According to preliminary data from SpendingPulse -- a division of MasterCard Advisors that tracks total sales paid for by credit card, checks and cash -- retail sales fell between 5.5 percent and 8 percent during the holiday season compared with last year. Excluding auto and gas sales, they fell 2 percent to 4 percent, according to SpendingPulse.
Sales of women's clothing dropped nearly 23 percent while men's clothing sales slipped more than 14 percent. Footwear sales fell 13.5 percent. Sales of electronics and appliances fell even more drastically, dropping almost 27 percent.
More consumers appeared to do their shopping online, particularly in the last two weeks of the season when storms snowed shoppers in. Online sales dipped just 2.3 percent from the 2007 holiday season, according to SpendingPulse.
A better indicator of how retailers fared will arrive Jan. 8, when major stores report same-store sales, or sales at locations open at least a year, for December.
With sales so far slim, retailers were hoping the day after Christmas would bring out bargain-hunters.
Sears stores were opening several hours early at 7 a.m. and offering doorbuster deals through noon, such as 65 percent off all women's boots. Toys R Us said it was cutting prices by 60 percent on some brands the day after Christmas.
Some retailers such as Target are pushing online deals, rather than in-store promotions, more heavily in the post-holiday period. Target said it is putting thousands of items on clearance and making them eligible for free shipping the day after Christmas.
Others, like Wal-Mart, are waiting until the weekend to make markdowns on items such as televisions, office and home goods but say they will continue in-store promotions of the week.
Newlywed Anthony Guites, 32, planned to stop at three different Miami-area stores to return gifts from his wife. He had three things to exchange at Wal-Mart for a fishing rod he wanted.
"She got me a fishing rod that I don't like. She got me this tool set that I already have. And she got me workout clothes that, let's just say, are way too colorful for me," he said.
Beemer said retailers may be greeting a lot of shoppers like Guites, and see returns up 50 percent to 60 percent.
"The one thing I heard last night from parents is that when kids got gifts that weren't exactly right, they're taking them back to the stores," Beemer said.
Associated Press Writers Sarah Skidmore in Portland, Ore., Betsy Vereckey in New York and Damian Grass in Miami contributed to this report.
.10 x .105
Stocks up after GMAC lifeline, dip in retail sales
Friday December 26, 9:43 am ET
By Madlen Read, AP Business Writer
Wall Street rises in early trading as GMAC qualifies for gov't help but holiday spending drops
NEW YORK (AP) -- Wall Street rose modestly in light post-holiday trading Friday, but was still cautious about embarking on a year-end rally following dreary preliminary readings on holiday spending.
Not surprisingly, Americans spent much less on gifts this season than they did last year, according to SpendingPulse, a division of MasterCard Advisors. Retail sales dropped between 5.5 percent and 8 percent compared with last year, the data showed, or between 2 percent and 4 percent after stripping out auto and gas sales.
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Personal consumption is a huge part of U.S. economic activity -- comprising more than two-thirds of gross domestic product -- so Wall Street is nervous that a more frugal consumer could keep the economy weak in 2009.
Investors did get a some good news on Christmas Eve, when the Federal Reserve allowed GMAC Financial Services -- the finance arm of struggling Detroit automaker General Motors Corp. -- to become a bank holding company and thus qualify for the government's $700 billion rescue fund. Analysts had said that without financial help, GMAC might have had to file for bankruptcy protection or shut down.
But so far, with just four trading days left in the year, no news has been upbeat enough to spark a year-end rally on Wall Street. December is usually a strong month for the stock market, with a flurry of trading known as a "Santa Claus rally" often seen in the month's final week.
In early trading, the Dow Jones industrial average rose 40.54, or 0.48 percent, to 8,509.02.
Broader stock indicators also advanced. The Standard & Poor's 500 index rose 4.18, or 0.48 percent, to 872.33, and the Nasdaq composite index rose 3.98, or 0.26 percent, to 1,528.88.
Trading volumes are expected to be extremely low on Friday as they were earlier this week. When trading is light, stock movements are often not indicative of broader market sentiment. Friday is also likely to be a quiet day of trading because there are no major economic or corporate reports scheduled.
New York Stock Exchange: http://www.nyse.com
Nasdaq Stock Market: http://www.nasdaq.com
good morning all
what for jan
Thats Bad Santa
that would be nice right now its just cold
its not snowing in NY now
its gonna go