Anticipation About Builder Report, Oil Prices Weighs On Market Monday Morning
June 16, 2008
New York–Stocks were primed for a weak opening Monday as oil prices hit a new high and investors waited for quarterly results from Lehman Brothers and the National Association of Home Builders builder confidence report, CNNMoney.com said.Oil hit a high of $139.89 a barrel, then backed off by about 30 cents. Second quarter results from…
New York–Stocks were primed for a weak opening Monday as oil prices hit a new high and investors waited for quarterly results from Lehman Brothers and the National Association of Home Builders builder confidence report, CNNMoney.com said.Oil hit a high of $139.89 a barrel, then backed off by about 30 cents. Second quarter results from global investment bank Lehman Brothers–which analysts predicted would include a large loss–also influenced the market. Just before the market opened, futures were slightly lower, indicating a negative start to the day.The National Association of Home Builders report is due in the early afternoon.
