Oil jumped as China's manufacturing improved

Source: Marketwatch

Oil futures advanced on Tuesday as China's manufacturing data improved. Crude oil for September settlement jumped 0.5 per cent, to $88.59 per barrel during today's New York trading session. The boost in prices was provided by the series of debt downgrades by Moody's. Rating agency downgraded the outlooks on Germany, the Netherlands and Luxembourg. Moreover Moody's claimed that the possibility of Greece's exit from the Eurozone is getting more obvious.

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Tue, 24 Jul 2012 18:02:31 GMT

Greece to suffer a much deeper recession

As reported by Greek Prime Minister Antonis Samaras, Greece is going to fall into a much deeper recession than it was predicted earlier.  Samara expects nation's economy to shrink by 7 per cent, compared to a previous estimate of 5 per cent.  Moreover, Greece may ask for a third financial aid, approximately up to 50bn euros. On the top of that, Antonis Samaras added, that after

Tue, 24 Jul 2012 17:40:32 GMT

Wall Street tumbled as global economy concern persists

Wall Street declined for a third day in a row as Moody's reduced ratings outlooks for Germany, the Netherlands and Luxembourg, proving that the debt crisis in the Europe is far away from the solution. The Dow Jones Industrial Average lost 0.5 per cent, to 12,655; the S&P 500 Index erased 0.4 per cent, to 1,345, and the Nasdaq Composite declined by 0.3 per cent

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