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Oil slides on inventory build, dollar rises
Oil prices slid Wednesday after the biggest weekly increase in U.S. crude stocks in seven years, while a deteriorating economic outlook in countries outside the United States helped the dollar resume a march toward 2008 peaks.
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Navy alters course, to buy 3rd DDG-1000 ship
Bowing to congressional pressure, the U.S. Navy said it will buy a third DDG-1000 destroyer in fiscal year 2009, as initially planned, instead of canceling the $29 billion program after just two ships.
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Airlines predict passenger decline
Major U.S. airlines will see a 6 percent drop in passengers during the eight-day Labor Day holiday period as high oil prices continue to roil the industry, the airlines' trade organization predicted on Monday.
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Oil falls to $112 on global demand worries
Oil dropped more than $2 to $112 a barrel on Friday on growing concerns about demand in industrialized nations and the stronger dollar.
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Wall St jumps as oil drops, financials rally
U.S. stocks rose in thin tradingThursday after oil prices fell anew, buoying hopes that consumer spending will recover, while financial shares rebounded from a sharp two-day sell-off.
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Financials extend losses; S&P 500 off 1 pct
U.S. stocks fell Wednesday, sending the Dow and the S&P 500 down more than 1 percent, as financial shares sold off on worries about the widening scope of mortgage losses, while disappointing earnings from Deere & Co heightened concerns about the economy's health.
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Mounting bank credit woes hobble Wall St
U.S. stocks fell Tuesday, as bank shares tumbled on fresh worries about the economy and further losses stemming from the mortgage crisis.
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Nasdaq up 1 pct as oil drops, dollar strengthens
U.S. stocks added to gains Monday, with the Nasdaq climbing more than 1 percent, as the stronger dollar boosted the allure of U.S. investments and Citigroup projected strong sales for Amazon.com Inc's electronic book reader.
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Nasdaq turns positive as oil falls
The Nasdaq reversed losses and moved into positive territory on Wednesday while the Dow and S&P 500 pared losses as the price of oil fell, helping to offset a slide in financial shares.
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Lower oil boosts Wall St
U.S. stocks extended gains Tuesday, lifting the Dow more than 2 percent, as a sharp pullback in oil prices fueled hopes of a consumer and business spending revival and eased inflation concerns.
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Financial shares lead Wall Street lower
U.S. stocks fell Monday as investors feared the housing slump will spawn further losses for the financial sector, compounding the troubles facing the U.S. economy.
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Obama would consider offshore drilling
Democratic presidential candidate Barack Obama said Friday he would back limited offshore drilling as part of a broader energy package that attempted to bring down gas prices and reduce U.S. dependence on foreign oil.
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Most Californians favor offshore drilling
For the first time, a majority of Californians support more drilling for oil off their state's coast, a poll showed Thursday, underscoring anxiety caused by high gasoline prices.
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Americans reduce credit card spending
Americans in all age and income groups have reduced credit card use and cut spending on non-essential items as oil and food prices soar, home prices sink and lenders tighten credit, a new study shows.
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Delta doubles bag fee
Delta Air Lines on Tuesday doubled the fee to check a second bag for domestic flights to $50 from $25 to help offset record fuel prices.
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Pentagon eyes aircraft sale to Iraq
The Pentagon has proposed selling to Iraq six Lockheed Martin Corp C-130J cargo aircraft and related equipment and services valued at up to $1.5 billion.
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U.S. stocks rebound
U.S. stocks rebounded Friday as better-than-expected data on consumer sentiment and housing and falling oil prices eased concern about the economy and the outlook for profit growth.
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Material could help stretch gas
A new, highly efficient material that converts heat into electricity may one day help cars get the most out of a gallon of gas, U.S. researchers said Thursday.
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Oil hits six-week low
Oil prices fell to a six-week low Tuesday amid concerns over sliding U.S. energy demand and expectations that a hurricane pushing through the Gulf of Mexico would spare most offshore oil production.
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Oil rises as Dolly threatens
Oil rose Monday as Tropical Storm Dolly barreled into the Gulf of Mexico, stoking concerns of disruptions to U.S. offshore oil and gas production.
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Merrill Lynch posts $4.9 bln loss
Merrill Lynch & Co Thursday said it is selling close to $8 billion of assets in a bid to raise fresh capital and posted a $4.9 billion second-quarter loss because of write-downs.
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Nasdaq barely bucks trend
Stocks ended mixed after a seesaw session Tuesday. Only the Nasdaq eked out a gain.
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Naked short sales to halt
The U.S. Securities and Exchange Commission will issue an emergency rule later Tuesday to stop "naked" short selling in major financial firms, including Fannie Mae and Freddie Mac, the SEC said.
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Victory for open-Internet advocates
The head of the U.S. Federal Communications Commission said Friday he will recommend that the agency sanction Comcast Corp for unreasonably restricting Internet users who share movies and other material.
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Retailers avoid June swoon
Summer weather, aggressive promotions and tax rebates sent many U.S. consumers shopping in June, giving retailers struggling in the weak economy their strongest month in more than a year.
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