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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Aug 02, 2013
Page
10
Global oil finds boost output but rising extraction costs and delayed projects squeeze profits at Exxon Mobil Shell BP and Chevron. Analysts warn prices could rise for consumers as production growth fails to offset higher operating expenses.
Washington reports show slow hiring with fewer layoffs. Last week unemployment benefits declined to 326,000, the lowest since January 2008, signaling net gains that may mislead about real payroll health as the July employment data nears.
U.S. stocks surge to record highs led by the S&P 500 crossing 1700 for the first time and the Nasdaq at its loftiest since 2000. Dow and Russell 2000 also hit intraday records as economy gains optimism with China manufacturing and fading jobless claims.
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