"I think it would take something of [drastic] nature to undermine the recovery, but at the same time that recovery - I would characterize the recovery as fluctuations around a mediocre trend. That's kind of what it is; we're bouncing around a growth trend that is, for a lack of a better word, just pretty darn mediocre," said Feinman.
July oil futures settled down by $3.19 at $83.34 a barrel. August gold futures jumped $58.70 to settle at $1622.90 an ounce.
The benchmark 10-year Treasury was higher by 30/32, lowering the yield to 1.461%. The greenback was losing 0.19%, according to the
In corporate news,
said Friday it has received "unsolicited indications of interest" for its 50% stake in TNK-BP, Russia's third-largest oil producer.
BP's stake in TNK-BP could be worth more than $30 billion, according to
The Wall Street Journal
. Shares closed up 0.8%.
said vehicle sales rose 11% in May to 245,256 vehicles over the same month a year ago, its highest monthly total since August 2009. The stock lost 1%.
(F - Get Report)
said sales of vehicles rose 13% in May, led by rapid growth in pick-up truck sales. The stock closed down 4%.
(GRPN - Get Report)
finished more than 9% lower. The company's post-IPO lock-up has expired, freeing up more shares for trading.
Written by Shanthi Bharatwaj in New York