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Day Five
Sep 02, 4:24 PM ET |
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| And investors still do not know the full extent of the damage in the Gulf of Mexico. More than 90% of oil and 73% of gas production still shut-down. |
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| At opening market learned of four-year low unemployment report and at mid-day digested the implication of release of oil from strategic reserve. Oil dropped close to $2 per barrels and gasoline dropped by 1% for now. Most oil companies are still surveying the extent of on and off-shore damage to their facilities. The nature and extent of the damage still unknown. |
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Katrina's Aftermath
Sep 02, 9:56 AM ET |
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| Crude-oil hovers round $69 a barrel. The dollar declines against other major currencies. Gold rises. |
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| Asian-Pacific benchmarks closed largely higher with the Nikkei up 0.7% on confidence of the Japanese economy. European markets edged up at mid-day dealings ahead of U.S. jobs report. Jobs for August are expected to rise by 190,000, slightly down vs. 207,000 for July. The jobless rate is projected steady at 5%. L'Oreal posted earnings decline but revenue growth for the first half of 2005. |
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Does White House Know?
Sep 01, 11:47 PM ET |
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| ""Thousands"" may be dead. damage to oil and gas processing capacity is unknown after four days. White House reponse questioned. |
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| As New Orleans Mayor issues a desperate S.O.S in response to a rapidly developing out of order situation, many in the country feel that the nation's emergency response system and White house efforts are far short and too slow to respond. White House advisors and staff give an assessment of readiness of oil refining and transportation infrastructure to the national media vastly different from what is learned from the private sources. |
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