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For Indians, attention is on future
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Governor will use cornhole to fund campaign
Tragic accident cause of death of BMX biker
Why do minorities die so young?
Major rebuilding not in Shapiro's plans
Blogs:
Akron Law Café:
Exxon Saved From the Rocks: The Supreme Court Limits Punitive Damages
The Heldenfiles:
No ABBA Concert Reunion … Ever
Balanced Ledger:
Olympics, interested?
Patrick McManamon:
Yellowstone, C.C. Sabathia, Brian Windhorst and … yes … Yellowstone
Browns Bulletin:
ESPN's Browns love-in chugs along
Cleveland Browns:
Bentley leaves minicamp
Cleveland Indians:
Spanked on Independence Day
Akron Aeros:
All Stars, Roster Moves and More!
Akron Zips:
Contemplating fall camp
Varsity Letters:
CVCA junior soccer stars Speas & Mason to play at UA
Kent State Sports:
Jarvis on Maxwell watch list
Ohio Politics:
2008 = 1972? 1976? 1992? 2000? 2004?
All Da King's Men:
Words For Independence Day
Blog of Mass Destruction:
You Go To An Election With The Media You Have
Akrocentric:
Charles Taormina discusses "Acceptance of Individual Authors," self-publishing resources
Akron Gamer:
Harmonix keeps on Rock'n
BokBluster:
Patriot Games
Ohio Travels with Betty:
Is there an American Girl store in Ohio?
Olympic Dreams - Running:
Back to Phase One
Sound Check:
Tim McGraw wows and woos Blossom
Tia's Trends:
Saks Saleswoman Accused of Stealing $1 Million
Consumer confidence, oil spur worries about economy
Published on Saturday, May 17, 2008
MarketWatch
NEW YORK: Stocks closed mostly lower on Friday, with a slide in consumer confidence and surging crude oil prices fueling worries about the economy, but with losses remaining shallow as energy and commodity stocks provided support to the broad market.
''People are nervous about oil,'' said Tim Speiss, head of wealth management at Eisner LLP.
''If you're spending a lot of money now as a consumer for housing, transportation, food and fuel, and then you've seen the value of your home decline and your short-term investment portfolio and 401(k) decline, you might be having a melancholy moment,'' he said.
The Dow Jones industrial average declined 5.86 points to end at 12,986.80, giving it a 1.9 percent weekly gain.
Of the Dow's 30 component stocks, 17 ended in the red, led by American Express Co., off 2.4 percent, and General Motors Corp., down 2.6 percent.
Oil giants Chevron Corp. and Exxon
Mobil Corp. led the Dow's winners, with Chevron up 1.9 percent and Exxon up 1.5 percent. Their advances coincided with a rise in crude futures, which rallied to a fresh high of $127.82 a barrel, before retreating a bit to close at $126.29 a barrel — up $2.17.
With a barrel of oil now well into the triple-digits, cheap oil is part of the past, analysts say.
In looking to the second half of the year, Goldman Sachs forecast a likely rise to an average $141 a barrel, making the forecast on the same day as Saudi Arabia declined to raise its output.
Prices also were climbing at the pumps, with regular unleaded gasoline up a penny a gallon in the last day to a new record average of $3.79, the Daily Fuel Gauge Report from AAA said.
Fueled by the energy and materials sector, the S&P 500 gained 1.78 points, or 0.1 percent, to 1,425.35, giving the index a 2.7 percent advance from a week earlier.
The S&P's energy sector jumped 2.9 percent, followed by materials, which gained 1 percent.
U.S. consumer sentiment declined further in May, hitting a reading of 59.5 in the preliminary report from Reuters/University of Michigan, the weakest since June 1980.
Get the full article here.
