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Pay czar Kenneth Feinberg’s latest review of pay practices at banks that received bailout funds showed 17 companies made $1.6 billion in “ill-advised payments” during the financial market crisis. Companies listed included Citigroup and Goldman Sachs.
World markets: European markets were mixed, with Britain’s FTSE 100 ending little changed, Germany’s DAX rising 0.4% and France’s CAC 40 rising 0.2%. In Asia, the Japanese Nikkei gained 2.3%.
Currencies: Moody’s put Hungary on review for a potential downgrade of its debt, reminding investors that the European debt crisis is far from over. That sent the euro lower versus the dollar, while the dollar gained versus the Japanese yen.
Commodities: U.S. light crude oil for September delivery fell 30 cents to settle at $79 a barrel on the New York Mercantile Exchange.
COMEX gold for August delivery fell $6.40 to $1,189.20 an ounce.
Bonds: Treasury prices fell as stocks rose and investors pulled money out of the safety of government debt. The slide lifted the yield on the 10-year note to 2.99% from 2.93% late Thursday. Debt prices and yields move in opposite directions.
Market breadth: Breadth was positive and volume was light. On the New York Stock Exchange, winners beat losers by four to one on volume of 960 million shares. On the Nasdaq, advancers beat decliners by over three to one on volume of 2.43 billion shares.
Posted: July 24th, 2010 under Breaking News.
Tags: breaking breath, breaking from, breaking linkin park, free breaking, salvage breaking, word breaking