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New York Mercantile Exchange › (NYMEX:LO.J12.9750P)

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Today's Financial News

US stocks edge lower in early trading after sharp two-day surge as markets close out wild week

1 day ago

U.S. stocks drifted between small gains and losses in morning trading Friday, coming off two days of big upswings as the market closes out a wild week. Utilities stocks were among the biggest decliners in morning trading Thursday. U.S. oil prices moved sharply higher. The Dow Jones industrial average fell 30 points, or 0.2 percent, to 16,623 as of 11:17 a.m. Eastern time Friday.

Greece's caretaker cabinet sworn in as country heads to early election

1 day ago

ATHENS, Greece (AP) — Greece's new caretaker government, led by the nation's first female prime minister, was sworn in Friday and headed straight into a cabinet meeting as the country faces an election next month. President Prokopis Pavlopoulos and Thanou signed a decree Friday, the president's office said, officially dissolving Parliament, setting the election for Sept. 20 and the first session of the new Parliament on Oct. 1.

Luxury goods firms keep careful eye on demand from China as markets plunge, economy slows

1 day ago

BICESTER, England (AP) — The designer outlet mall of Bicester Village is set in the English countryside near Oxford, but it might as well be in China. Quiet Mandarin chatter fills the air. Most of the shoppers are Chinese — and so are half the sales assistants. In the Burberry store, many try on the brand's signature trench coats, which go for at least 600 pounds ($925) after discounts. Some punch numbers into their smart phone calculators to work out the exchange rate; more take photos of the goods on offer, likely to message friends at home for a nod of approval.

A billion people logged in to Facebook on Monday. Where are the next billions coming from?

1 day ago

NEW YORK (AP) — You, your mom, your grandma and elementary school buddy Lawrence might have been some of the billion people who logged in to Facebook on Monday — the first time that has happened in a single day. That's right, one billion people, or one-seventh of the Earth's population. Most of the billion people who logged in on Monday were outside the U.S. and Canada. Of Facebook's overall users, more than 83 percent come from other countries. This is also where Facebook's next billions of users will likely come from as it grows.

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