Wednesday, October 29, 2008

Steven Wevodau - Oil up 7 percent on weak dollar, Fed rate cut (Reuters)

Traders work in the crude oil futures pit on the floor of the New York Merchantile Exchange, October 27, 2008. (Brendan McDermid/Reuters)Reuters - Oil jumped more than 7 percent on Wednesday as the dollar fell after the Federal Reserve cut U.S. interest rates.

Steven Wevodau

Reuters - Speculators on Wednesday scooped up call options in Exxon Mobil Corp , hoping to catch a share price rally on prospects of a positive earnings report, according to one options analyst. Steven Wevodau

A Chinese man takes notes near a display charting stock prices at a securities company in Shanghai, China, Tuesday, Oct 28, 2008.  Chinese stocks rebounded in afternoon trading Tuesday after falling to their lowest level in more than two years Monday. The rally followed surges in regional markets as governments around Asia pledged market-boosting measures. (AP Photo)Reuters - The United States and China kicked off what is likely to be a global round of interest rate cuts, part of a barrage of measures deployed around the world to fight a deep economic slowdown.

Steven Wevodau

AP - A major shareholder in Target Corp. pitched a plan to Wall Street on Wednesday that would spin off the discount retailer's real estate holdings as a separate entity as a way to increase the value of the company and its shares. Steven Wevodau

Reuters - New York Attorney General Andrew Cuomo, who negotiated executive payment clawbacks by American International Group Inc as it received a taxpayer bailout, warned nine banks receiving government money on Wednesday that using the funds for bonus payments may be illegal under state law. Steven Wevodau

Traders work on the floor of the New York Stock Exchange October 28, 2008. (Brendan McDermid/Reuters)Reuters - U.S. stocks fell on Wednesday as a big rally faltered in the last minutes of trading on worry about the weakening corporate profit picture after a news report raised questions about General Electric's earnings outlook.

Steven Wevodau

General Motors Chairman and Chief Executive Officer Rick Wagoner talks about cost cutting restructuring during a news conference at GM Headquarters in Detroit, Michigan July 15, 2008. (Rebecca Cook/Reuters)Reuters - General Motors Corp and Cerberus Capital Management have resolved the major issues in a proposed GM-Chrysler merger, but the final form of any deal would depend on the financing and government support available, sources familiar with the talks said on Wednesday.

Steven Wevodau

No comments: