Stocks Crushed By Unemployment, Oil News

Stocks Crushed By Unemployment, Oil News

There are 1 comment on the CBS 5 story from Jun 6, 2008, titled Stocks Crushed By Unemployment, Oil News. In it, CBS 5 reports that:

Wall Street plunged Friday on two troubling economic developments: oil prices that surged more than $9 a barrel to a fresh record and a jump in unemployment that was much larger than the market anticipated. The Dow Jones industrial average dropped more than 350 points.

The decline in stocks also helped drive bond prices sharply higher as investors sought a more secure place for their money.

Crude oil has seen a huge rebound this week after falling amid a drop in demand for gasoline. The jump continued Friday; light, sweet crude set a high of $138.36 before edging down to trade up $10.28 at $138.10 a barrel on the New York Mercantile Exchange. The surge followed a Morgan Stanley shipping analyst's prediction that would reach $150 a barrel by July 4, a decline in the dollar and fresh tensions in the Middle East.

Join the discussion below, or Read more at CBS 5.

Old Man Charlie

Vernon Hills, IL

#1 Jun 9, 2008
Good time to BUY.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Morgan Stanley Discussions

Title Updated Last By Comments
News Wall Street has made Hillary Clinton a millionaire (Oct '15) Apr '17 okimar 20
News Uber and Lyft are demolishing New York City tax... (Oct '16) Oct '16 Pak Sabaruddin 1
News Wall Street scrambles as Lehman files for Ch. 1... (Sep '08) Dec '15 Hasterts male hooker 12
News Morgan Stanley CEO says bankers' bad judgment w... (May '14) Apr '15 swedenforever 5
News China's Sinopec 1H Earnings Climb 24% as Refini... (Aug '13) Aug '13 Snowflake 1
News Morgan Stanley Now #69 Largest Company, Surpass... (Aug '13) Aug '13 comrade zsolt sass 1
News China Business Confidence Falls; China Aims to ... (Jun '13) Jun '13 The CCP is DYING 1
More from around the web