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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Aug 07, 2010
Page
8
World oil markets close with light, sweet crude priced at 80.90 per barrel as traders weigh supply data and global demand. Analysts note steady gains amid ongoing production cuts and easing geopolitical tensions, signaling a cautious but stable energy outlook.
US payrolls miss expectations fueling a broad decline in stocks and a drop in the dollar to multi year lows. The Dow fell 721 points while the S&P 500 and Nasdaq slid, volume remained light and traders awaited the next Federal Reserve move amid thin participation and gold rising above 1200 an ounce.
US job growth stayed tepid in July with the private sector adding modest positions while government cuts deepened. Unemployment held at 9.5 percent as analysts warned of possible double digits without faster private gains.
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