Financial news on July 16, 2008
Business and Financial news
The Fed chief warned of the risks of a long slowdown and higher inflation as the president, speaking nearby, said the country’s economic pillars remained sound. Read more..
Problems linked to the braking system of Boeing’s much-delayed 787 Dreamliner conspired with a dearth of new orders from Western airlines to darken the mood at the aerospace industry’s showcase event. Read more..
The Burberry Group, a luxury goods retailer, said first-quarter sales rose 22 percent on shipments of autumn and winter goods to wholesale distributors in emerging markets. Read more..
Countrywide Home Loans has agreed to pay $325,000 to settle a case that accused the lender of abusive practices in almost 300 mortgage loans overseen by the court. Read more..
At a Congressional hearing, Google and Yahoo lawyers argued that their advertising partnership did not violate antitrust laws and would help to keep Yahoo competitive. Read more..
Sprint Nextel is in early talks to form a partnership with SK Telecom of South Korea to share information about new mobile phones and other technology. Read more..
G.M. said that it would reduce labor costs for salaried workers by 20 percent and further cut truck production. Read more..
Stock Markets
Values are reported in US Dollars
| Stock | Ticker symbol | Open | High | Low | Close | Volume |
| Wells Fargo & Co. | WFC | 23.78 | 27.32 | 23.20 | 27.23 | 206M |
| Intel | INTC | 21.03 | 21.15 | 20.23 | 20.91 | 87.3M |
| General Electric | GE | 26.80 | 27.83 | 26.42 | 27.68 | 82.9M |
| Microsoft | MSFT | 26.07 | 27.29 | 25.92 | 27.26 | 82.1M |
| JPMorgan Chase | JPM | 32.30 | 35.94 | 31.50 | 35.94 | 80M |
| Cisco Systems | CSCO | 20.72 | 21.33 | 20.56 | 21.10 | 63.7M |
| Pfizer | PFE | 17.60 | 18.29 | 17.41 | 18.26 | 56M |
| ExxonMobil | XOM | 81.89 | 81.99 | 79.41 | 80.81 | 40.4M |
| Oracle Corp. | ORCL | 20.32 | 20.55 | 20.09 | 20.44 | 37.6M |
| AT&T Inc. | T | 32.12 | 32.45 | 31.58 | 31.92 | 31.1M |
| ConocoPhillips | COP | 84.75 | 84.93 | 82.58 | 83.19 | 30.5M |
| Apple | AAPL | 170.08 | 172.93 | 168.60 | 172.81 | 26.7M |
| Wal-Mart Stores | WMT | 56.20 | 57.11 | 55.64 | 56.96 | 26.4M |
| Abbott Laboratories | ABT | 58.30 | 58.50 | 56.60 | 56.97 | 25.4M |
| Visa | V | 68.33 | 72.56 | 66.51 | 72.23 | 23.1M |
| Bristol-Myers Squibb | BMY | 21.70 | 22.57 | 21.51 | 22.38 | 21.9M |
| Comcast | CMCSA | 18.31 | 19.06 | 18.21 | 19.03 | 21.4M |
| Chevron | CVX | 89.34 | 89.60 | 86.07 | 86.39 | 20.2M |
| Home Depot | HD | 21.53 | 22.73 | 21.21 | 22.68 | 19.6M |
| Procter & Gamble | PG | 63.73 | 64.16 | 63.38 | 63.89 | 19.5M |
| UnitedHealth Group | UNH | 22.40 | 22.66 | 21.97 | 22.53 | 19.2M |
| Johnson & Johnson | JNJ | 67.77 | 68.81 | 67.50 | 68.19 | 18.9M |
| HP Inc. | HPQ | 41.31 | 42.45 | 41.00 | 42.34 | 18.8M |
| Merck | MRK | 36.36 | 37.00 | 36.20 | 36.63 | 18.7M |
| Walt Disney & Co. | DIS | 29.50 | 30.60 | 29.05 | 30.43 | 18.3M |
| Verizon Communications | VZ | 35.02 | 35.43 | 34.48 | 35.38 | 13.6M |
| Coca-Cola | KO | 51.88 | 52.60 | 51.25 | 52.34 | 13.6M |
| Schlumberger | SLB | 96.95 | 97.99 | 93.14 | 95.86 | 13.3M |
| Altria | MO | 20.70 | 21.02 | 20.52 | 20.84 | 12.4M |
| Amazon | AMZN | 66.94 | 72.75 | 66.84 | 71.84 | 12M |
| Amgen | AMGN | 52.19 | 53.24 | 52.07 | 52.43 | 11.8M |
| Gilead Sciences | GILD | 55.18 | 55.88 | 54.66 | 54.81 | 10.2M |
| McDonald's | MCD | 58.52 | 60.34 | 58.20 | 60.16 | 10.2M |
| International Business Machines | IBM | 122.81 | 126.89 | 122.25 | 125.94 | 9.9M |
| Alphabet | GOOGL | 514.04 | 536.50 | 510.60 | 535.60 | 9.47M |
| United Technologies | UTX | 60.16 | 61.25 | 58.96 | 61.11 | 8.58M |
| Union Pacific | UNP | 69.85 | 73.48 | 69.85 | 73.45 | 5.93M |
| Pepsico | PEP | 65.77 | 66.13 | 65.05 | 66.09 | 5.71M |
| Boeing | BA | 63.91 | 65.68 | 63.50 | 65.58 | 5.64M |
| 3M | MMM | 67.90 | 68.67 | 67.28 | 68.64 | 4.64M |
| Berkshire Hathaway | BRK.B | 3788.00 | 3849.00 | 3750.00 | 3790.00 | 35.8K |
Exchange Rates of July 16, 2008
| Currencies | Exchange Rates | ||
| US Dollar | Japanese Yen | 1 USD = 105.090 JPY | 1 JPY = 0.010 USD |
| US Dollar | Canadian Dollar | 1 USD = 1.001 CAD | 1 CAD = 0.999 USD |
| US Dollar | Swiss Franc | 1 USD = 1.018 CHF | 1 CHF = 0.983 USD |
| US Dollar | Chinese Yuan | 1 USD = 6.811 CNY | 1 CNY = 0.147 USD |
| Euro | Japanese Yen | 1 EUR = 166.240 JPY | 1 JPY = 0.006 EUR |
| Euro | Pound Sterling | 1 EUR = 0.792 GBP | 1 GBP = 1.263 EUR |
| Euro | Australian Dollar | 1 EUR = 1.624 AUD | 1 AUD = 0.616 EUR |
| Euro | Canadian Dollar | 1 EUR = 1.584 CAD | 1 CAD = 0.632 EUR |
| Euro | Swiss Franc | 1 EUR = 1.610 CHF | 1 CHF = 0.621 EUR |
| Japanese Yen | Pound Sterling | 1 JPY = 0.476 GBP | 1 GBP = 2.101 JPY |
| Japanese Yen | Australian Dollar | 1 JPY = 0.976 AUD | 1 AUD = 1.024 JPY |
| Japanese Yen | Canadian Dollar | 1 JPY = 0.952 CAD | 1 CAD = 1.050 JPY |
| Japanese Yen | Swiss Franc | 1 JPY = 0.968 CHF | 1 CHF = 1.033 JPY |
| Pound Sterling | Australian Dollar | 1 GBP = 2.051 AUD | 1 AUD = 0.488 GBP |
| Pound Sterling | Canadian Dollar | 1 GBP = 2.000 CAD | 1 CAD = 0.500 GBP |
| Pound Sterling | Swiss Franc | 1 GBP = 2.033 CHF | 1 CHF = 0.492 GBP |
| Australian Dollar | Canadian Dollar | 1 AUD = 0.975 CAD | 1 CAD = 1.026 AUD |
| Australian Dollar | Swiss Franc | 1 AUD = 0.991 CHF | 1 CHF = 1.009 AUD |
| Canadian Dollar | Swiss Franc | 1 CAD = 1.016 CHF | 1 CHF = 0.984 CAD |
See what else happened on July 16, 2008