News Summary: Metals Fall On Manufacturing Data

By The Associated Press

SLUGGISH METALS: Copper, silver and other industrial metals fell after a new survey showed manufacturing declined in December the New York area. It reflects a nationwide trend of sluggish manufacturing because of slower economic growth.

GOLD PERKS UP: Gold prices rose slightly on encouraging signs about U.S. budget negotiations. Unless a budget is in place Jan. 1, spending cuts and tax hikes will go into effect that some economists believe will push the U.S. into recession.

PRICE MIX: Prices rose for gold, oil and natural gas. Wheat and corn fell while soybeans were flat.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Stocks

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Canopy Growth: First Cannabis Firm on the NYSE Fails to Generate Buzz

Canopy Growth: First Cannabis Firm on the NYSE Fails to Generate Buzz

PayPal Wants to Consolidate the World of Rewards Points

PayPal Wants to Consolidate the World of Rewards Points

Rising Oil Prices Will Be a Wash for U.S. Economy, JPMorgan Says

Rising Oil Prices Will Be a Wash for U.S. Economy, JPMorgan Says