U.S. stock indexes end with stiff losses on spike in oil prices

Date: Fri, 06 Jun 2008 17:04:44 -0400
U.S. stock indexes end with stiff losses on spike in oil prices

U.S. stocks drop sharply after the government says the nation's jobless
rate in May soared to 5.5%, the highest since October 2004, and as the
price of crude-oil futures jumps atop $139 a barrel.

Economic Report: Jobless rate soars to 5.5% in largest jump since 1975

The U.S. unemployment rate jumps all the way to 5.5% in May, surprising
economists with the biggest increase in seasonally adjusted unemployment
in 33 years.

Futures Movers: Oil up almost $11 to mark its biggest daily dollar gain
on record

Oil prices shoot higher by almost $11 a barrel, scoring their biggest
one-day gain in dollar terms.

Icahn names a price for Yahoo; company says move 'ill-advised'

The proxy war between Yahoo and Carl Icahn escalates as the billionaire
investor publicly states a price that he believes the Web portal should
offer to Microsoft in exchange for a buyout deal.

Currencies: Jobless data shocker knocks greenback to its knees

The dollar extends losses against major counterparts Friday, after a
surprising rise in the jobless rate all but quashes hopes of a U.S.
interest rate hike this year.