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Market Update : 
Oil Above $107, Lehman Down 9%
Author: 123jump.com Staff
123jump.com
Last Update: 10:32 PM EDT March 27 2008


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Tech stocks led the decliners in the U.S. trading led by a fall in Intel, Google and Oracle. Oracle fell 7% after sales were below expectations, Google fell after click through estimate in February were 3% lower than last year. Lehman fell 9% on persisten rumors of liquity crunch at the firm. McCormick jumped after predicting higher sales in the year. Clear Channel rose after the company and buyout groups sued banks for refusing loans to fund the deal.

 
In South Korea Kospi Index decreased 3.43 or 0.20% to close at 1,676.24, in Thailand SET index closed higher 5.39 or 0.66% to 822.96 and Indonesia JSE Index edged increased 10.71 or 0.44% to 2,451.35. Sensex index in India decreased 71.27 or 0.44% to 16,015.56.

Commodities, Metals, and Currencies

Crude oil increased $1.29 to close at $107.19 a barrel for a front month contract, natural gas decreased 1 cent to $9.68 per mBtu, and gasoline futures decreased 2.74 cents to close at 271.55 cents per gallon.

Gold increased $0.20 in New York trading to close at $954.00 per ounce, silver closed up $0.17 cents to $18.55 per ounce, and copper for front month delivery increased 14.80 cents to 387.30 per pound.

Wheat futures decreased 19.00 cents in Chicago trading and closed at $10.14 per bushel. Sugar decreased 17.00 cent to 12.07 cents per pound. Soybean future closed down 24.75 cents to $13.27 a bushel.

Dollar edged higher and traded near a record low against euro to $1.5768 and edged lower against yen to 99.76.

Bond Yields increased for 10-year U.S. bonds and closed at 3.54% and on 30-year bonds increased to close at 4.39%.
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