Archive for June 26th, 2008

Oil reached $140 a barrel for the first time ever Thursday following reports that Libya may cut production and an OPEC official said crude could hit $170 a barrel this summer.

Gold prices jumped Thursday, rising back above the psychologically important $900 mark, on renewed fears about the health of the U.S. economy.

General Motors stock price fell 10% Thursday, to the lowest level in more than 33 years, as analysts reacted to a Goldman Sachs downgrade and continued concerns about the automaker's competitiveness.

Yahoo's (YHOO) latest reorganization aligns three divisions under president Sue Decker.

Stocks tumbled Thursday morning, with the Dow industrials hitting its lowest intraday level in 21 months, after Goldman Sachs downgraded two key Dow components and two tech leaders disappointed investors.

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Oil surged Thursday following reports that Libya may cut production and an OPEC official said crude could hit $170 a barrel this summer.