Events Calendar
In This Section
Matsos bottling a dressing that’s selling in 25 states
Economic survey: Job losses to bottom out in first quarter
Ohio gas prices up 12 cents from last week
SCORE offers wide variety of workshops
After 30 years at the helm of Akron Children's, Considine still looks to future
New version of Mozilla Thunderbird landing soon
Most Read Stories
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Victim of beating in Kent last week is declared dead at Akron hospital
Akron man killed in crash on his street
Can DNA tests free ex-Akron captain?
Browns find another way to lose
Dad accused of forcing son into field, killing him
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Sunday Notebook
Patrick McManamon:
Browns sick after sick loss in Detroit
Akron Zips:
Zips advance to Sweet Sixteen
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Post-game defensive quotes
Kent State Sports:
Kent State defeats Rochester College, 63-44
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
The Sunday Sanity Challenge
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (70) Savings in Medicare Advantage
See Jane Style:
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Faye Dunaway to be Evicted?
Ohio Travels with Betty:
Monique asks how to get tickets for the Polar Express.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Personal Rant – You are All Wrong About Jobs, or the Lack of Jobs, Being the Reason People Do Not Live in NEO
Akron Gamer:
Nintendo's Mario endures even as games come and go
By Sara Lepro
Associated Press
POSTED: 04:52 p.m. EDT, Jul 07, 2009
NEW YORK: Investors sent stocks sliding after another tumble in oil prices eroded hopes for a speedy recovery in the economy.
Major stock market indexes skidded about 2 percent Tuesday and the Dow Jones industrial average posted its lowest close since late April as crude dropped for the fifth straight day. The drop in oil is the latest indicator that investors think demand for energy and basic materials will remain soft in an economy that continues to struggle.
Trading volume remained thin amid a dearth of news about the economy this week and as investors await the beginning of the second-quarter earnings season, which starts Wednesday with aluminum maker and Dow component Alcoa Inc.
Stocks have drifted lower in recent days as the market's confidence about the economy took hits from a poor jobs report for June, waning consumer confidence and plunging commodities prices.
That stoked fears that the market might have gotten ahead of itself in March and April, when investors sent stocks soaring in hopes that a nearly two-year-long recession will end some time this year. The next guideposts for the market will be the forecasts companies give during earnings reports about how business conditions look for the rest of the year.
"Uncertainty has crept back into the picture," said Carl Beck, partner at Harris Financial Group. "We started to get some data that put a damper on some of the optimism that had been growing about the economic recovery and that sort of put everything on hold until we start hearing from companies."
According to preliminary calculations, the Dow fell 161.27, or 1.9 percent, to 8,163.60. The Standard & Poor's 500 index fell 17.69, or 2 percent, to 881.03 and the Nasdaq composite index lost 41.23, or 2.3 percent, to 1,746.17.
Oil tumbled from an eight-month high hit last week on concerns that a weak economy will dampen demand for energy.
Light, sweet crude fell $1.12 to settle at $62.93 a barrel on the New York Mercantile Exchange, helping to send Exxon Mobil Corp. down $1.54, or 2.3 percent, to $66.56, while ConocoPhillips lost 84 cents, or 2.1 percent, to $39.99.
NEW YORK: Investors sent stocks sliding after another tumble in oil prices eroded hopes for a speedy recovery in the economy.
Major stock market indexes skidded about 2 percent Tuesday and the Dow Jones industrial average posted its lowest close since late April as crude dropped for the fifth straight day. The drop in oil is the latest indicator that investors think demand for energy and basic materials will remain soft in an economy that continues to struggle.
Trading volume remained thin amid a dearth of news about the economy this week and as investors await the beginning of the second-quarter earnings season, which starts Wednesday with aluminum maker and Dow component Alcoa Inc.
Stocks have drifted lower in recent days as the market's confidence about the economy took hits from a poor jobs report for June, waning consumer confidence and plunging commodities prices.
That stoked fears that the market might have gotten ahead of itself in March and April, when investors sent stocks soaring in hopes that a nearly two-year-long recession will end some time this year. The next guideposts for the market will be the forecasts companies give during earnings reports about how business conditions look for the rest of the year.
"Uncertainty has crept back into the picture," said Carl Beck, partner at Harris Financial Group. "We started to get some data that put a damper on some of the optimism that had been growing about the economic recovery and that sort of put everything on hold until we start hearing from companies."
According to preliminary calculations, the Dow fell 161.27, or 1.9 percent, to 8,163.60. The Standard & Poor's 500 index fell 17.69, or 2 percent, to 881.03 and the Nasdaq composite index lost 41.23, or 2.3 percent, to 1,746.17.
Oil tumbled from an eight-month high hit last week on concerns that a weak economy will dampen demand for energy.
Light, sweet crude fell $1.12 to settle at $62.93 a barrel on the New York Mercantile Exchange, helping to send Exxon Mobil Corp. down $1.54, or 2.3 percent, to $66.56, while ConocoPhillips lost 84 cents, or 2.1 percent, to $39.99.
Comments
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Kandi, SL
Posted 06:19 PM, 07/07/2009
So why am I paying $3.25 a gallon for gas?
