User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


67° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Friday Evening Business Brief

August 24, 2012, 5:28 PM

Friday Evening Business Brief

Stocks opened lower today but reversed course after a letter surfaced from Federal Reserve Chairman Ben Bernanke suggesting there was room for the central bank to do more to help the economy. The Dow industrials gained 100 points, or 0.8 percent, to close at 13,158. The Nasdaq rose 16 points, or 0.5 percent, and the S-and-P 500 was up 9 points for a 0.7 percent gain. All three indexes posted small losses for the week.

  •  Federal Reserve Chairman Ben Bernanke has made clear in a letter to a House lawmaker that he thinks the Fed can do more to bolster the economic recovery and help reduce unemployment. Bernanke also defends steps the Fed has already taken.
  • Oil companies are evacuating some Gulf of Mexico oil rigs in advance of Tropical Storm Isaac. For now the storm is close to the Dominican Republic and Haiti. But oil installations would be at risk if it heads to the Gulf of Mexico and reaches hurricane strength.
  • The price of oil fell today after a trade journal reported that Western countries might release more oil reserves. Benchmark crude traded in New York fell 12 cents to finish at $96.15. Brent crude traded in London fell, too, down 28 cents to $113.31. Brent crude is used to price international varieties of oil.
  • Bond investors appeared unwilling to be thrown around by conflicting signals from the Federal Reserve over whether the central bank will act soon to help spur the U.S. economic recovery. Treasury prices barely budged today, with the yield on the benchmark 10-year Treasury virtually unchanged at 1.68 percent. Its price was down 3 cents for every $100 invested.

Previous Story

Next Story




 
Find Local Businesses on KELO Pages!

View business

You may also like

Sioux Falls No Longer Best Small City

7/25/2014 11:12 AM

Sioux Falls is no longer the nation's best small city for business and careers.

Full Story
Iowa Town Bracing For Closure Of Tyson Foods Plant

7/27/2014 3:31 PM

One small northwest Iowa town is preparing to deal with the loss of 450 jobs this fall when the Tyson Foods plant in Cherokee closes, and business own...

Full Story
Simply Mac Coming To Sioux Falls

7/28/2014 1:12 PM

Apple users will soon have another option for sales and service support.

Full Story
Dawley Farm Village Expands

7/25/2014 10:10 PM

If you don't live on the Sioux Falls east side, or haven't taken a drive over there lately, you may not have noticed all the new businesses.

Full Story | Watch
Sioux City Riverboat Casino Prepares For Last Day

7/30/2014 7:57 AM

The Argosy riverboat casino is preparing to take its last bets Wednesday, having told the Iowa Racing and Gaming Commission that it will close by 5 p....

Full Story


Events