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Market Update : 
U.S. Stocks Struggle; Records in Oil and Gold
Author: 123jump.com Staff
123jump.com
Last Update: 5:13 PM EST March 03 2008


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U.S. stocks recovered in the late afternoon after the markets in Europe closed lower. Resurgent oil, metal, and agriculture commodities lifted select stocks. In the morning, manufacturing index showed a decline in February. ATM Network operator Diebold rejected a hostile offer from United Technologies. Thornburg Mortgage plunged 53% after it failed to meet its margin call on reverse mortgage securities.

 
Wheat futures increased 60.90 cents in Chicago trading and closed at $11.46 per bushel. Sugar increased 40 cent to 15.02 cents per pound. Soybean future closed up 38.50 cents to $15.75 per bushel.

Dollar edged lower and traded at record lows against euro to $1.5206 and edged lower against yen to 103.41.
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