Stocks pare losses to finish mixed after oil spikes
MAY 16, 2008
Wall Street capped a week of big gains with modest moves Friday as investors grappled with surging energy prices that overshadowed news of a surprise increase in home construction. Details
Oil sets record near $128; pump price at high, too
MAY 16, 2008
News that Saudi Arabia had boosted its oil output by 300,000 barrels a day was greeted as a non-event on oil markets _ the move wasn't anywhere near the kind of production increase needed to bring prices down on Friday. Details
Treasury secretary says markets are calmer now
MAY 16, 2008
Treasury Secretary Henry Paulson said Friday that financial markets are "considerably calmer" now than they were two months ago. He predicted the economy will be rebounding by the second half of this year. Details
Surprise rebound in housing, outlook still shaky
MAY 16, 2008
Construction of new homes increased by the biggest percentage in more than two years in April, a rare spot of good news amid the worst downturn in housing in more than two decades. Details
GE confirms plans to exit appliance business
MAY 16, 2008
NEW HAVEN, Conn. _ General Electric Co. plans to sell or spin off the business that for a century has put appliances in American homes, a decision that could presage further asset sales, analysts said. Details
