ECONOMY & MARKETS

Oil Prices Hover Near $101 Amid Middle East Concerns

Oil Prices
Talk of closing the Strait of Hormuz is generally seen as an empty threat from Iran. The U.S. State Department said it saw an element of bluster in the threat. Yet it has been made before and since nearly one-third of all tanker traffic passes through the Strait of Hormuz the concern lingers. Most, however, don't seem to think Iran could or would pull it off, for long anyway.
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Case Shiller Oct

Case-Shiller Home Price Index Falls in October

Home prices in 20 major U.S. cities fell 3.4 percent in October compared with the previous year, signaling continued weakness in the housing market, according to the S&P/Case-Shiller Home Price Indices.
Mengniu said it destroyed a batch of products at a plant in the southwestern province of Sichuan which contained aflatoxin, a substance produced by food fungus that can cause severe liver damage, including liver cancer.

Tainted Milk Destroyed, says China's Mengniu

China Mengniu Dairy Co Ltd, the nation's biggest dairy firm, said it had destroyed milk found to be contaminated with a cancer-causing substance, the latest food safety problem to hit the country's dairy industry.
Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange

'Santa Claus Rally' May Face a Test Next Week

Get ready. The last trading week of the year will be a test for stocks to prove whether they have the strength to carry a rally into next year. The broad S&P 500 index broke through its 200-day moving average on Friday after turning positive for the year as a four-day rally lifted stocks following a spell of better-than-expected economic data.
Bank of Canada says Greece exit not the cure

Economy runs out of steam in October

Canada's economy stalled in October after four consecutive months of growth, pointing to a fourth-quarter slowdown as increasing global uncertainty mutes expectations for next year.
A man walks past signs marking houses for sale in Washington

New U.S. Home Sales Increase 1.6 Percent in November

Sales of new U.S. single-family homes increased to an annual rate of 315,000 in November, up 1.6 percent from October and 9.8 percent from November 2010, according to the U.S. Census Bureau and Department of Housing and Urban Development.
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U.S. Stock Index Futures Point to More Gains

U.S. stock index futures point to Wall Street edging higher Friday, extending a rally into a fourth session, as labor market and other data in the United States pointed to a strong economic recovery.
A man looks at a stock quotation board outside a brokerage in Tokyo

U.S. Economy Hopes Fuel Pre-Christmas Stock Buying

Fresh signs the giant U.S. economy is gaining momentum drove major world stock markets and the euro higher on Friday, with activity likely to be thin in the last session before the Christmas holiday.
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Asian Stocks, U.S. Futures Rise

Asian stocks rose more than 1 percent and U.S. index futures also gained on Friday, as signs of a strengthening economy in the United States encouraged a year-end bounce for riskier assets.
Energy shares help TSX shake off Europe downgrade

Banks, energy issues lift TSX to higher close

The TSX finished higher for a third-straight session on Thursday as worries over European bank lending eased and U.S. economic data pointed to gradual economic improvements, sending financial and energy issues up sharply.
International Monetary Fund's Managing Director Christine Lagarde addresses a roundtable discussion in Lagos

Canada indicates could pay into IMF Europe fund

In a sign that Canada's resistance to paying into an IMF bailout fund for Europe might be fading, Finance Minister Jim Flaherty said on Thursday the idea would be generally supported if all the Group of 20 nations agreed to pay in more.
Construction workers continue work on a new subdivision of homes in San Marcos, California

10 Trends in U.S. Housing in 2011 and What to Look for in 2012

As the end of 2011 approaches, the housing market is another year removed from the subprime mortgage meltdown. But the legacy of the crash remains, as homeowners, lenders, regulators and brokers alike continue to deal with falling home prices, a glut of unprocessed foreclosures and an uncertain economy.

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