First Bristol Federal Credit Union

Global Markets Overview 24 June 2011

Energy stocks were hit hard by the surprise IEA intervention. Energy led the S&P 500 lower while Exxon Mobil was one of the blue-chip Dow's worst performers, falling 1.38, or 1.7%, to 78.44, as was Chevron, which shed 1.71, or 1.7%, to 99.36. Even though lower oil prices are a positive for consumers, market participants said the commodity's plunge to near $91 a barrel required more big investors to dump riskier assets in order to cover their surprise losses.

Investors were also discouraged after weekly initial jobless claims disappointed economists' expectations, pointing to persistent weakness in U.S. employment. Late in the session, stocks rocketed off their lows amid reports that Greece had reached a breakthrough on a five year austerity plan with European Union and International Monetary Fund officials.

Investors have lately welcomed any and all positive news on the Greek-debt conundrum. Airline stocks were sliding oil's chief stock-market beneficiaries. American Airlines parent AMR Corp. gained 30 cents, or 5.2%, to 6.05, while United Continental Holdings added 1.16, or 4.8%, to 25.14 and Delta Airlines rose 35 cents, or 3.7%, to 9.94.

Europea Markets

European stocks slumped and the euro weakened as a downbeat outlook for the U.S. economy weighed heavily, intervention in oil markets surprised and disappointing economic data from around the world spurred investors to seek safe harbors.

The Stoxx Europe 600 index shed 1.4% to 264.31, having touched 263.71, the lowest point since March. Figures from showed manufacturing activity fell to the slowest rate of expansion in 11 months, while private-sector growth across the bloc of 17 euro-zone nations was the weakest since September 2009, and U.S. initial jobless claims were higher than expected.

Worries about sovereign debt on the continent remain at the forefront of investors' minds ahead of a meeting of European Union leaders in Brussels. Markets are likely to remain on edge until a Parliament vote in Athens next week on further austerity measures, said Joshua Raymond, strategist at City Index.

The Greek ASE Composite index fell 2.3%. And members of the International Energy Agency said they would release 60 million barrels of oil to ease prices, which sent the price of Nymex crude to below $90 a barrel. Cyclical stocks or those sensitive to economic events, political risks and the business cycle were battered most.

Website Details of Firstbristol.org - Review of the Firstbristol

Title

First Bristol Federal Credit Union :: Bristol, CT

First Bristol Federal Credit Union - The higher level of service and the lower fees are simply amazing

http://firstbristol.org/

First, Bristol, Teachers, Federal, Credit, Union, First Bristol, Bristol Teachers, FBFCU, BTFCU, Loan, Loan Rates, Savings, Savings Accounts, Mortgage, Loan Calculator, Membership, Credit Union, Home, Banking, Homebanking, Home Banking, Insurance, NCUA, Equal Housing Lender, Checking, Checking Account

en-us

text/html; charset=windows-1252

See how firstbristol.

Ward's business directory of U.S. private and public companies

The Los Angeles Jobbank

Uniform Commercial Code reporting service, cases and commentary

Directory of Corporate Counsel 2011-2012 (2 Volumes)

Chase's Calendar of Events 2007