News Summary: Commodities Up On Budget Talks, GDP
By The Associated Press
BROAD GAINS: Most commodity prices rose as back-and-forth negotiations continued over the U.S. budget. Gold, industrial metals, oil and soybeans rose. Natural gas, wheat and corn fell.
NEWS WATCHERS: Traders hope a new budget agreement is reached before spending cuts and tax increases take effect Jan. 1. Economists believe the lack of an agreement could push the U.S. back into a recession.
ECONOMIC BUMP: Commodities also benefited from a report that said the economy grew at a faster rate than initially thought during the second quarter and from an increase in a measure of pending home sales.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV