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Oil dips on firm dollar, ahead of OPEC meeting

30 Nov. 2015

Oil dipped on Monday as traders remained cautious ahead of an OPEC meeting later this week and as a widely expected U.S. interest rate hike strengthened the dollar.

Prices are heading for declines of as much as 10% this month, with a supply glut showing no signs of easing and a firmer U.S. dollar making greenback-denominated contracts more expensive for holders of other currencies.

While most analysts do not expect OPEC to cut production at an important policy meeting on Dec.4, they are mindful that Saudi Arabia could be inching towards the idea of working on price support measures with other oil producers.

Read full article from Reuters

 

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Consumer Spending Barely Rises Again in the U.S. 

25 Nov. 2015 

Consumer spending rose slowly in October for the second straight month in the U.S., as Americans boosted savings and spent less on utilities, cars and trucks. Spending rose a seasonally adjusted 0.1% for the second month in a row. That was below Wall Street expectations, that had forecast a 0.3% increase.

Less was spent on autos even though the number of new cars and trucks sold last month was at a decade high, perhaps a sign of more discounting or bigger sales to car-rental agencies. Households also spent less on electricity and home heating fuel because of unseasonably warm weather. 

Read full article in MarketWatch

 

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Dollar hits eight-month high as Fed rate hike view persists

23 Nov. 2015

The dollar rose to an eight-month high on Monday, as unusually hawkish comments from a regional U.S. Federal Reserve president over the weekend further cemented expectations of an interest rate hike next month.

Data showed on Monday that manufacturing activity slowed to the lowest level since October 2013 and existing home sales declined 3.4 percent last month, but both surveys continued to support long-term stability in the U.S. economy.

Read full article from Reuters

 

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$2 Gas Coming Soon for Most of the U.S.

18 Nov. 2015

The average price of a gallon of regular gas is $2.13 according to AAA, down 75 cents from a year ago. That decline means consumers will save about $7 billion on gas during the 37-day period between now and Christmas, or about $40 a driver. And prices are expected to keep falling.

Gas is already below $2 a gallon at 44% of stations nationwide, according to Tom Kloza, chief oil analyst at both GasBuddy and the Oil Price Information Service, which tracks prices for AAA. Prices are below $1.59 a gallon in states such as Ohio, Texas and Oklahoma, according to GasBuddy.com.

Read full article from CNN Money

 

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Google+ was Redesigned with a Focus on Communities

17 Nov. 2015

Much like the Google logo before it, Google+ is being completely reinvented today. In a blog post, Google says that after pulling in feedback from users it has decided to focus the former do-everything social network around two key features: communities and collections.

Narrowing the focus of Google+ was probalby the best way for Google to salvage the service. It originally started life as a Facebook-style social network for posting links, photos, status updates, and more with your friends.

Read full article in Engadget

 

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