Monday, September 17, 2007
U.S. stocks close lower as focus shifts to Fed
DJIA
13,403
-39.10
S&P
1,476
-7.60
NASDAQ
2,581
-20.52
10Yr
4.47%
+0.008
U.S. stocks close lower as focus shifts to Fed
NEW YORK
U.S. stocks closed with modest losses on Monday after a light-volume
session amid investor nervousness ahead of the Federal Reserve's
interest-rate decision Tuesday and as a U.K. lender's ongoing trouble
added to worries about the global credit crunch.
Futures Movers: Crude futures add almost 2%, hit another record level
atop $80
SAN FRANCISCO
Crude-oil futures climbed to another record level above $80 a barrel
Monday, overcoming earlier weakness as traders fretted about near-term
risks to global supplies and bet that a Federal Reserve cut in interest
rates will help lift energy demand.
Sen. Clinton's health-care plan would require all to buy coverage
SAN FRANCISCO
Sen. Hillary Clinton, the Democratic presidential frontrunner, unveiled
her proposal for health-care reform on Monday in Iowa, the centerpiece
of which is the requirement that individuals purchase health insurance.
Greenspan says tried but failed to raise U.S. mortgage rates
WASHINGTON
Former Federal Reserve Board chairman Alan Greenspan says he tried to
raise mortgage rates to head off a housing bubble, but the effort came
to naught because of "global forces" that had the effect of keeping
long-term interest rates low.
Northern Rock under further pressure as deposits disappear
LONDON
Shares of U.K. mortgage lender Northern Rock dropped as much as 41% on
Monday, retreating further following reports that nervous customers,
worried the bank would go under, have pulled out 2 billion pounds ($4
billion).
