Oil drops after U.S. industry report

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Source: Bloomberg
Crude declined in New York as a report showed inventories in the U.S., the world's major oil consumer, surged for the first time in three weeks. On Wednesday, futures fell 0.5%, cutting 0.8% climb yesterday, as the American Petrolium reported stockpiles rose 2.78 million barrels to 367.1 million last week. September-delivery oil dropped to $92.97 per barrel.
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Wed, 15 Aug 2012 08:01:30 GMT

Hong Kong stocks fall amid economic concerns

Hong Kong stocks dropped, lead by the benchmark index falling from a 3-month high, amid worries China's worsening economic slowdown may decrease corporate earnings. The Hang Seng Index declined 1.1% to 20,065.34, with 22 shares dropping for each that gained. The Hang Seng Enterprise Index tumbled 1.2% to 9,798.46.

Wed, 15 Aug 2012 14:44:41 GMT

Economic Optimism Index dropped 3% in August

The IBD/TIPP Economic Optimism Index tumbled by 1.4 points or 3 per cent in August, and reached 45.6 against 47 in the month earlier. The Index dropped to its lowest reading of 2012 so far, and reading below 50 indicates pessimism. Meanwhile, in December 2007 the reading was at 44.4 level, when the world's biggest economy fell into the recession.

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