Inflation Surges as Gasoline Costs Boost November CPI
The Labor Department reports November CPI up 0.8 percent, the largest monthly rise since September 2005, driven by a 5.7 percent jump in energy. Core inflation also rose 0.3 percent as clothing, airline tickets, and prescription drugs climbed. Gasoline prices surged while overall growth slowed amid housing weakness and a credit crunch. Local gasoline in Lawrence averaged 2.801 dollars per gallon, up from the day before.
MENTIONED IN THIS ARTICLE
Labor Department
New York Mercantile Exchange
Stocks finish lower after inflation raises rate-cut doubts
U.S. stocks declined Friday as a rise in consumer prices sparked concern about Fed rate cuts. The Dow fell 178.11 points to 13339.85, the S&P 500 slid 20.46 to 1467.95, and the Nasdaq dropped 32.75 to 2635.74, capping a bruising week with the worst weekly showing in a month.
MENTIONED IN THIS ARTICLE
Federal Reserve
Standard & Poor
Senate vote eases mortgage crisis with FHA refinancing plan
The Senate approved 93 to 1 a bill enabling FHA backed refinanced loans for homeowners delinquent on payments as rates reset from teaser levels. The measure expands eligibility and lowers down payments to curb the credit crunch while boosting options for future buyers. The plan also raises FHA insurance caps in high cost areas to align with Fannie Mae and Freddie Mac levels amid White House concerns.
MENTIONED IN THIS ARTICLE
Washington
Senate
Federal Housing Administration
Harry Reid
Dnev
Congress
House
Bush
White House
Dana Perino
FHA
California
Northeast
Fannie Mae
Freddie Mac
Chicago grain futures rise on CBOT Friday
Chicago markets showed gains across wheat corn oats and soybeans on the Chicago Board of Trade. Wheat for March delivery rose 26 cents to 9.795 dollars a bushel, March corn gained 3.25 cents to 4.3825 dollars, March oats up 3.25 cents to 2.9775 dollars, and January soybeans advanced 11 cents to 11.57 dollars. Prices for other grains were listed as well.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Also Mentioned on This Page
Nymex
Lawrence
Oil Price Information Service
Wall Street
U.S. Senate
Ottawa Cooperative Association
Ottawa
Edgerton
Overbrook
Midland
Milo
Lawrence North
Lawrence South
London
Pea Ieee
Massachusetts
Drury Place
Alvamar
St. Andrews Drive
Isre
A. Lawrence
Drake
Coe
Southwest and
Mare
Mass
Au Marche
Lege Ong
Ryan L. Brittingham, Dds
Legends Drive
Mts
Uns
PMC
Anna Eri
Cence
Cai
Cen
Liberty Hall
Mesler Roofing Company
Meslerroofingca
Dewil
Bullene Ave
Pacman
Carla Phipps
China
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