By Mike Caggeso Associate Editor Spot price of gold eclipsed $935 in trading Monday, its first time above the mark since May 22, as another fresh round of record oil prices exacerbated existing market-wide turmoil. In light of the Federal Reserve's decision to hold interest rates at 2.0% – its first rate freeze since September […]
Archives for June 2008
June 2008 - Money Morning - Only the News You Can Profit From
A Bearish Dow Has its Worst June Since the Great Depression
By Jason Simpkins Associate Editor High oil prices, a steep drop in consumer confidence, declining home values and a weak dollar conspired to drive the Dow Jones Industrial Average to its lowest point in two years, and made for the benchmark index's worst June since the Great Depression. After falling more than 300 points last […]
Consumer Spending Strong, but Will it Last?
By Jason SimpkinsAssociate Editor Consumer spending in the United States rose an unexpected 0.8% in the month of May, the biggest increase since last November, as nearly $50 billion worth of rebate checks were cashed and put to use. Incomes grew 1.9% in May – their biggest jump in nearly three years – and the […]
Qatar Funnels $8 Billion Into a Resurgent Libya
By Jason SimpkinsAssociate Editor The State of Qatar will invest about $8 billion in Libyan companies across various sectors, officials told the Financial Times. The investment is one of many made by large, national sovereign wealth funds, or global cash barons, and will help Libya diversify its economy away from a reliance on hydro carbons. […]
Banco Bradesco Banking on Continued Brazilian Growth with 350 New Offices
By Mike Caggeso Associate Editor With incomes rising all over Brazil, Banco Bradesco SA (ADR: BBD), the country's largest private bank, plans to add 350 new offices throughout the country in the next year and a half. In an interview with Bloomberg, Banco Bradesco Chief Executive Marcio Cypriano said the retail expansion is a bid […]
Buy, Sell or Hold: Cisco Systems Inc.
During the Internet boom in the latter part of the 1990s, Cisco Systems Inc. (CSCO) was the king of the "must-have" stocks, with shares of the maker of telecommunications-networking gear soaring 400% from June 1998 to March 2000. At Friday's close of $23.61, Cisco's shares are down 69% from their all-time high of $77.31 and […]
Below the Radar: A How-to Guide to Pink Sheet Profit
Editor's Note: This is the first of a two-part series on "below-the-radar-screen" stocks. Next up: Penny stocks. Most investors have heard the term "pink sheets" as a reference to stocks. But how many know what they are. Pink sheets are companies that are traded over-the-counter and that aren't part of any major stock exchange. But […]
Crude Hits Another Record High Above $140
By Jason SimpkinsAssociate Editor The benchmark crude oil rose 57 cents to settle at a record-high $140.21 a barrel on the New York Mercantile Exchange Friday, after a sell-off on Wall Street left the Dow Jones Industrial Average in bear territory. After plummeting 358 points on Thursday, the Dow dropped another 107 points to end […]
With the Dow in Bearish Territory, and Oil Prices in the Stratosphere, New Potential Problems Abound
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report With the Dow Jones Industrial Average down 20% from its October peak – placing it firmly in bear-market territory after what's so far been its worst June since the Great Depression – neither institutional traders nor individual investors seem able to find anything positive about the […]
Three Ways to Profit From the Biggest Airport on Earth
By William Patalon III Executive Editor Money Morning/The Money Map Report Oil and jet-fuel prices are in the stratosphere, many of the world's top airlines have ordered severe cutbacks, and passenger traffic is falling, so why is Dubai funneling 82 billion of its petrodollars into an aerospace project that includes plans for the world's largest […]
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