U.S. stocks end week mixed on economic concerns

Date: Fri, 01 Aug 2008 17:04:07 -0400
U.S. stocks end week mixed on economic concerns

U.S. stocks fall on Friday as crude oil prices rise, fueling economic
worries after a report showed the unemployment rate ticked higher in
July and General Motors Corp. posted a huge quarterly loss.

Ford, GM slammed in July; Toyota also hit hard

SAN FRANCISCO
General Motors Corp., Ford Motor Co. and Chrysler LLC all handed in
double-digit July U.S. sales declines Friday that were worse than many
had feared, with another steep drop in truck and SUV sales casting an
even longer shadow across the rest of the year.

Futures Movers: Oil ends above $125, up 1.5% for the week on Iran
nuclear fears

Crude-oil futures finish higher with a gain of 1.5% for the week, as
fresh concerns over a possible Israeli strike on Iran and weakness in
the U.S. stock market prompt investors to lift oil prices to close above
$125 per barrel.

Economic Report: U.S. jobless rate jumps to four-year-high of 5.7%

Nonfarm payrolls drop for a seventh straight month in July while the
unemployment rate jumps to 5.7%, a four-year high, according to Labor
Department data.

Obama calls for revised, quicker stimulus

Sen. Barack Obama has proposed a revised, speeded-up version of his $50
billion economic stimulus plan, saying a tax on oil companies' profits
should be levied to fund rebates of up to $1,000 for families.