Tuesday, May 09, 2006

Quick Overview

  • U.S. consumer confidence dropped sharply to its lowest level of the year last week, weighed down by high gasoline prices and a weakening job market, ABC News and the Washington Post said on Tuesday.

  • The Bank of Japan is considering upgrading its assessment of the economy in its monthly report, saying for the first time in nearly 15 years the economy is "expanding", Jiji Press news agency reported.

  • Gold spiked up to a new 25-year high above $700 an ounce on Tuesday on dollar weakness, while platinum set a new record on strong industrial demand and fund buying.

  • Oklahoma Wheat Commission is estimating the state's winter wheat crop at 67 million bushels, down from 128 million bushels a year ago and the lowest in almost fifty years.

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