EOG Resources' quarterly earnings of 68 cents per share topped the Zacks Consensus Estimate of 54 cents and showed an improvement from 46 cents earned in the year-earlier quarter. share: digg facebook twitter TORONTO (AP) — Canada's economy created 58,300 jobs last month, bringing the unemployment rate down to 7.6 percent, matching the lowest jobless level since the early months of the recession, a reporting agency said Friday. April's gains bring the year-over-year increase in employment to 283,000, enabling the recovery of all the full-time jobs that were lost in the 2008-2009 recession. Scotiabank economist Derek Holt said he predicts bank governor Mark Carney will likely take solace that the froth appears to be coming come off commodity prices, particularly oil, which this week fell below $100 a barrel. Damn you Obama, your socialism is killing the economy! Employment increased more than expected in April as private companies created jobs at the fastest pace in five years, pointing to underlying strength in the economy, even though the jobless rate rose to 9.0 percent. Nonfarm payrolls rose 244,000 last month, the most in 11 months, [...] Add Europe to your portfolio with these Zacks top ranked Mutual Funds. AUSTRALIAN shares closed marginally weaker, despite recovering from earlier lows caused by steep falls overnight in commodity prices. The price of virtually every majority commodity fell Thursday. Silver dropped 8 percent. Analysts say prices fell, at least in part, because of recent reports suggesting the economy might be slowing, which would mean less demand for commodities. Growing concerns about the US economy has fuelled speculation in recent days that the commodities boom could be coming to an end Oil prices inched higher on Friday morning after Thursday's record 10% drop, with investors keeping a wary eye on key US jobs data out later in the day. Renewed worries about supply discruptions in North Africa and the Middle East, together with rising demand from emerging economies, helped the price of Brent crude rise by 0.27%, at $111.10 a barrel, after hitting $111.77 earlier. US crude moved above $100 a barrel before falling back to $99.85. "This looks like a relief rally following the broader sell-off in commodities," Serene Lim, a commodities analyst with ANZ Bank in Singapore told Reuters. "It could go down further - all eyes will be on the US non-farm payrolls data." Wall Street economists are predicting that employers added 185,000 workers in April while the unemployment rate is expected to remain at 8.8%. Other commodities rebounded, with spot silver climbing 2.5% to $35.60 an ounce after a torrid session on Thursday, but that still leaves the it on track for a 26% weekly loss - the biggest since the ... What sparked the tumble in commodity prices, will the Japanese intervene to slow a strengthening yen, and what are the issues at stake in Singapore's elections. WSJ's Jake Lee and Alex Frangos discuss. Hong Kong stocks fell for an eighth day, the longest stretch of losses since the 2003 spread of severe acute respiratory syndrome and the U.S. invasion of Iraq, as economic reports in America and falling commodity prices damped investor confidence in the global recovery. AUSTRALIAN shares made up some ground in morning trade but remain lower at noon due to substantial falls in materials stocks due to lower commodity prices. #### Oil, other commodities prices take a fall By SANDY SHORE The Associated Press ##### Published May 5, 2011 07:49PM MDT Commodity prices plummeted Thursday after disappointing economic news raised concerns about whether demand will ease as businesses and consumers continue to pay more for food, energy and raw materials. Oil fell 8.6 percent and silver dropped 8 percent, creating a snowball effect of falling prices across the board for a second straight day. Fresh economic reports indicated that businesses could be hiring at a slower pace and consumers may be cutting back on some spending because of higher costs f... ##### Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Crude oil prices plunged nearly 9 percent on Thursday, tumbling below $100 a barrel in the United States, as weak economic indicators fanned fears of a new economic slowdown and investors rushed to cash in gains on crude contracts. Commodity prices fell across the board, dropping more than they had since 2009, as renewed economic anxiety settled in and the U.S. dollar rose, making commodities somewhat more expensive for people holding other currencies. The sudden pullback in crude oil markets came as the price of regular gasoline rose to within a penny and a half of $4 a gallon nationwide. The nationwide average is the highest it has been at this time of year since the Energy Department began tracking prices in 1990. Read full article >> Asian stock markets were weaker, with the Nikkei down 1.7% as commodity- related stocks slumped after oil and metals prices dropped. Mexican stocks drop, hit by a selloff in commodity prices and a report that underscores continued weakness in the labor market of Mexico's largest trading partner, the United States. SHARP falls in resources stocks after drops in commodity prices have seen the Australian share market open lower. SINGAPORE, May 6 (Reuters) - Singapore shares are likely to open lower on Friday, following a retreat on Wall Street overnight as tumbling commodity prices heightened risk aversion and sent investors seeking safety ahead of U.S. jobs data. Commodities prices tumbled, led by the steepest oil-price decline in more than two years, triggering a selloff in stocks as well. El Paso Corporation failed to meet the top-line Zacks Consensus Estimate while scraping past the bottom-line expectation by a couple of cents.
Key Words: commodity prices
References:
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http://pixelhat.net/
Friday, May 6, 2011
EOG Delivers an Impressive 1Q Analyst Blog Canadian unemployment rate slips to 7.6 percent Jobs Numbers Beat Expectations Again 244 000 new jobs in April higher than expected. Top 5 European Mutual Funds Best of Shares end week on a low note Commodity Prices Drop On Fears Of Slowing Economy Oil and gold prices volatile after Thursday's plunge Asia Today Commodities Plunge Singapore Votes Hong Kong Stocks Longest Streak Since SARS Iraq War falls hit Australian market other commodities take fall Americans blame oil companies politics others for rising gasoline Falls Slump Latin American Markets Mexican stocks U.S. report open lower StocksMay down; Raffles Education Chuan Hup focus Mixed Results from El Paso
