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.


54° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

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

Big Box Competition Prompts 2 SD Stores To Close

10/1/2014 6:51 AM

Stores are closing in Pierre and Aberdeen as big box retailers move in, affecting more than two dozen workers.

Full Story
Latest SF Walmart Lawsuit Dismissed

9/30/2014 11:48 AM

A lawsuit filed by opponents of a south side Sioux Falls Walmart has been dismissed.

Full Story
Chicago Fire Rerouting Travelers In Sioux Falls

9/26/2014 11:25 AM

A fire in Chicago has grounded flights in Sioux Falls and across the country.

Full Story
Lawsuit Dismissal Rolls Back SF Walmart Road Blocks

9/30/2014 5:39 PM

A Sioux Falls judge has dismissed the latest lawsuit involving the south side Walmart.

Full Story | Watch
Brookings Manufacturer Expands

9/26/2014 1:30 PM

Counterpart, Inc. of Brookings has completed a 30,000-square-foot expansion of its manufacturing plant.

Full Story


Events