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Tuesday, March 25, 2008

News You Can Use


US Home Prices Drop 11.4 Pct. in January
The broader 20-city composite index is also down, falling 10.7 percent in January from a year ago. That is the first time both indexes dropped by double-digit percentages.

In other news ...

World Markets Rally on Easing US Worries
European and Asian markets surged Tuesday as investors returned from the Easter holiday in a mood to buy, encouraged by upbeat U.S. housing numbers and overnight gains on Wall Street.

Crude Rises, Snapping Three-Day Decline Crude oil rose, snapping a three- day decline, amid escalating violence near one of Iraq's main oil producing regions.

Gold Climbs in London Trading as Dollar Declines; Silver, Platinum Rise Gold rose the most in more than two weeks in London after the dollar fell before a U.S. consumer confidence report that may indicate slower economic growth, spurring demand for precious metals as an alternative to stocks.

Copper Rebounds From Worst Weekly Slide in 10 Months Copper gained the most in three weeks in London, rebounding from the worst drop in 10 months, on expectations stockpiles of the metal will decline and production costs will rise. Aluminum and zinc gained.

White Sugar Climbs Most in Six Weeks in London After India Cuts Forecast White sugar climbed the most in six weeks in London on speculation less Indian supply will erode a forecast global glut. Robusta coffee also advanced.

Soybeans, Corn Increase as Rising Food Prices Boost Demand From Importers Soybeans in Chicago rose for a second day on speculation declines in prices of agricultural commodities may attract buyers as governments seek to boost imports to curb food prices.

Morgan Stanley Raises Corn, Soybean Forecasts by 20% on Food, Fuel Demand Morgan Stanley, the second-biggest U.S. securities firm, raised its price forecasts for corn and soybeans by 20 percent on higher demand for food and ethanol.

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