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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Thursday was a good day for commodities

Nov 19, 2010 09:46 AM

The U.S.' largest automaker's stock sale and increased manufacturing in metropolitan Philadelphia prompted the value of industrial metals to rise on Thursday, the Associated Press reports.

Also pushing up the price of commodities was Ireland inching closer to accepting a bailout for its banks' debt, which weakened the dollar. That, in turn, also boosted commodity futures. Businesses using raw materials bought the supplies cheap when prices were low, capitalizing on the decline in prices.

The manufacturing index of the Philadelphia Federal Reserve Bank increased to 22.5 in November, the highest numbers thus far this year, according to the Bank. The firms surveyed for the Index cited having seen more lively and active manufacturing this month in Philadelphia, Delaware and part of New Jersey. Last month the index for the same category registered at 1.0.

Requiring a federal bailout after going insolvent, General Motors released stock to kick off a new beginning. Attributed to GM's actions is Thursday's strong performance of palladium and platinum, both of which are used for catalytic converters.

Ireland also moved closer to accepting a bailout to rescue its banks, which did its part to placate some financial networks' uncertainties.

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