Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 24, 2008 11:08:06 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Oil, Gold Lift Markets

Posted Nov 6, 07 3:37 PM CST in Business 

(Newser) – Stocks closed up today, buoyed by surging oil and gold prices. Oil hit $97 a barrel, and gold is at a 27-year high, Bloomberg reports. Energy and metals producers, including Exxon Mobil and Newmont Mining—the world's second-largest gold-mining company—led the rally. The Dow was up 117.54 to 13,660.94, the Nasdaq 30.00 to 2,825.18, and the S&P 500 18.10 to 1,520.27.

"Materials are feeding the global boom," says one manager. Meanwhile, the financial sector was buoyed by Goldman Sachs' denial that it's about to announce a big writedown. "The rumors seem to be getting more fanciful by the minute," said a spokesman. "We said there was no truth to them last week and the situation has not changed."

Sources Bloomberg, Wall Street Journal, CNN, Financial Times (UK)

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Mixed Results Cap Ugly June

    Jun 30, 08 3:39 PM CDT
    Mixed Results Cap Ugly June Stocks ended mixed today—the last day of the second quarter—and couldn't prevent the Dow and S&P from their worst June since the Great Depression, CNNMoney reports. The Dow ended up 3.50 today, to 11,350.01; the Nasdaq was down 22.65 to 2,292.98, and the S&P up 1.62 to 1,280.00. Each of the major indices was down at least 8.6% for the month. More »

  • 'Difficult' Dow Ends Down 358

    Jun 26, 08 3:37 PM CDT
    'Difficult' Dow Ends Down 358 Stocks plunged today due to the convergence of bad news across all sectors of industry against the backdrop of oil’s first surge over $140 a barrel, the Wall Street Journal reports. The Dow plummeted to a 2-year-low, shedding 358.41 to 11,453.42. The Nasdaq fell 79.89, settling at 2,321.37, and the S&P 500 fell 38.82 to close at 1,283.15. More »

  • Stocks Stall, Finish Mixed

    Jun 23, 08 3:30 PM CDT
    Stocks Stall, Finish Mixed Markets ended mixed today, burdened by high oil prices and shaky financials. "It's been a terrible market. It definitely looks like we're going to re-test the lows all this week," an economist tells the Wall Street Journal. The Dow ended down 0.33 at 11,842.36, the Nasdaq down 20.35 at 2,385.74, and the S&P 500 up 0.07 at 1,318.00. More »

  • Faltering Banks Push Stocks Down

    Jun 17, 08 3:15 PM CDT
    Faltering Banks Push Stocks Down The markets fell today, led by plunging financials and bank stocks, despite a solid second-quarter report from Goldman Sachs. "There is a lack of clarity at every level of the financial system right now, from regulators to companies," a floor trader told the Wall Street Journal. The Dow fell 108.78 to 12,160.30, the Nasdaq 17.05 to 2,457.73, and the S&P 500 9.21 to 1,350.93. More »

  • Stocks Mixed as Oil Pulls Back

    Jun 16, 08 3:22 PM CDT
    Stocks Mixed as Oil Pulls Back Stocks ended mixed today as oil prices pulled back after hitting a high of nearly $140 a barrel. Investors are still concerned about economic instability, but many have already abandoned financials, reports the Wall Street Journal. The Dow ended down 38.27 at 12,269.08, the Nasdaq up 20.28 at 2,474.78, and the S&P 500 barely changed, rising 0.11 to 1,360.14 . More »

A worker delivers fuel to an Exxon station in Keller, Texas in this Jan. 27, 2007 file photo. (AP Photo/Donna McWilliam, file)   (Associated Press)
Fuel storage tanks are seen at Petroleum Products Corporation in Highspire, Pa., Tuesday, Nov. 6, 2007. Oil futures jumped to a new record above $97 a barrel Tuesday after bombings in Afghanistan and...   (Associated Press)
Gold hit $824.0 an ounce today.   (Getty Images)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 3)

Tags

stock market  • oil price  • Goldman Sachs  • ExxonMobil  • gold


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »