Archive for June 27th, 2008

Stocks slipped Friday, with the Dow briefly crossing into bear market territory, as record-high oil prices, a weak dollar and more financial market woes rattled investors for a second session.

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Oil prices settled above $140 a barrel for the first time Friday during a thinly traded session on Friday as a selloff on Wall Street sent the Dow into bear market territory.

Worst month for stocks since the Great Depression. A bear market. Oil blows past $140. These are the times that try long-term investors' souls.

The weakened dollar isn't just wreaking havoc for Americans traveling overseas - it is hitting consumers right at home.

Stocks tumbled Friday afternoon, with the Dow crossing into bear market territory, as record-high oil prices, a weak dollar and more financial market woes rattled investors.

As Americans clamor for action on record oil and fuel prices, Democratic leaders in the House had promised to address energy issues this week, but they ended up without much to show for it.

Would you pay over $5 for all-natural cleaner made with eucalyptus essence? How about a 20% premium for paper towels made from 100% unbleached recycled paper? Shoppers are often asked to pay more for environmentally friendly goods, but they might want to think twice before shelling out.

Oil prices settled above $140 a barrel for the first time Friday during a thinly traded session on Friday as a selloff on Wall Street sent the Dow into bear market territory.

"Make no mistake about it," U.S. Rep. Bart Stupak, D-Mich., said Monday while chairing a meeting of the House Energy and Commerce subcommittee on Oversight and Investigations. "Excessive speculation in commodity markets is having a devastating effect at the gas pump that is rippling through our entire economy."