Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Kenneth E. Phillipps who wrote (69879)	8/3/2009 6:48:12 PM
From: Hope Praytochange	Read Replies (1) of 224728

Crude oil tops $72 as dollar tumbles, U.S. stocks rally Natural-gas futures jump 10.4% as commodities rally across the board By Polya Lesova, MarketWatch NEW YORK (MarketWatch) -- Oil soared above $72 a barrel on Monday to its highest level since early June after upbeat data on global manufacturing activity spurred a rush into commodities, stocks and other assets seen as benefiting the most from a worldwide economic recovery. Natural-gas futures rallied 10.4%, copper rallied 4.4% and raw sugar futures soared to their highest level in more than three years. The Reuters/Jefferies CRB Index /quotes/comstock/11j!i1:cr\y (CRB 266.42, +8.97, +3.48%) , a benchmark that tracks the prices of major commodities, rose 3.4% to 266.28 points. Further supporting commodities, U.S. stocks rallied after posting the best July in 12 years. And the dollar hit its lowest level of 2009 as investors bought currencies perceived as holding more leverage to global growth. Dollar weakness tends to boost dollar-denominated commodities because it makes them cheaper for holders of other currencies. Crude for September delivery rose $2.13, or 3%, to end at $71.58 a barrel on the New York Mercantile Exchange. Earlier, the contract hit an intraday high of $72.10 a barrel, marking its highest level since June 11.

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