Crude oil futures Monday earnings rose positive
YORK Tuesday morning news crude oil futures closed higher Monday, the latest financial reports of listed companies reflects the further recovery of the U.S. economy.
main contract of the New York Mercantile Exchange in August rose 53 cents to 76.54 U.S. dollars a barrel, or 0.7%. The contract fell 61 cents last Friday, closing at 61.01 U.S. dollars a barrel last week fell 1% in total.
Scotiabank Group Toronto, economic and commodity market analyst Patricia Mohr said, "the recent oil price linkage with the stock market close, while the stock market is undoubtedly a barometer of confidence in corporate earnings."
Monday, several companies announced earnings were better than expected.
oilfield services company Halliburton reported second-quarter profit growth of 83%, earnings per share results exceeded market expectations. But the company warned that the Gulf of Mexico deepwater oil production ban will impact 2010 results.
Hasbro and Delta reported profits better than expected, but weaker than expected sales Hasbro.
CIBC Global Markets senior economist Peter Buchanan said, "I think this week than last week, investors are more optimistic about economic prospects."
he said, "I think it kind of optimism for the price increase. "
companies will release earnings this week, IBM will announce results after the close Monday.
August crude oil futures rose to 77.73 U.S. dollars in intraday trading, because a survey showed less confidence in the housing developer in July, oil prices have declined.
Association of Home Builders / Wells Fargo housing market index in July down from the revised June 16 fell to 14 points.
August natural gas futures failed to hold an intraday high of 4.55 U.S. dollars, closed down 1 cent, per million British thermal units of 4.51 U.S. dollars.
Standard & Poor's 500 index rose 0.6% Monday, to 1071 points; Dow Jones Industrial Average rose 56 points to 10,154 points.
