Pair Of Fed Officials, Data On Consumer Price Inflation Highlight Wednesday - Economic Preview
Tuesday, April 15, 2008 4:51:01 PM - With a pair of conflicting economic report released earlier in the session, stocks experienced choppy trading throughout the day on Tuesday, although they ultimately closed modestly higher. Wednesday a series of economic reports, including the sensitive consumer price index as well as comments from two Federal Reserve officials should keep investors busy.
Oil Soars To Record Levels Again
Tuesday, April 15, 2008 3:37:24 PM - Crude oil prices soared to record levels again on Tuesday. Light sweet crude for May delivery closed at $113.79, up $2.03 on the session. Oil hit as high as $113.99, another intraday all-time high. The old record of $112.21 was set last week.
Dollar Gains On Most Majors After Wholesale Prices Rise More Than Expected [EUR/USD]
Tuesday, April 15, 2008 3:14:00 PM - The greenback was stronger versus most of its major counterparts on Tuesday, rising to a new multi-week high versus the sterling and firming up slightly against the euro. Traders took in data showing wholesale price growth in March came in well above expectations, with significant increases in food and energy prices contributing to the faster than expected growth.
Gold Closes Moderately Higher
Tuesday, April 15, 2008 2:56:24 PM - Gold closed mildly higher on Tuesday after giving back a good chunk of its earlier gains. Gold for June delivery climbed to $932.00, up $3.30 on the session. The metal moved as high as $939.80, challenging last week`s record high crossing of $943.40.
Japanese Yen Mixed Versus Major Rivals [USD/JPY]
Tuesday, April 15, 2008 2:33:14 PM - The Japanese yen was mixed against the other majors on Tuesday in New York. The currency was lower against the dollar, higher against the pound and even with the euro. Trading took place amid the release of a monthly statistical report from the Japan Real Estate Institute that said condominium sales in Tokyo fell 17.8% on an annual basis in March.
Global Round-Up -- J&J-Led Rally Dissipates On Inflation Surprise, Record High Crude Prices
Tuesday, April 15, 2008 1:54:18 PM - Wall Street muddled through another lackluster session on Tuesday, with traders sifting through inflation data and a report on manufacturing as oil prices rose to record highs. A positive quarterly result from Johnson&Johnson fueled strength at the opening bell, but higher oil prices eventually ate into the gains. Many Americans finished filing income-tax returns Tuesday.
source: © RTTNews.com
