Oil futures leap to near $52 a barrel following Fed move

Date: Thu, 19 Mar 2009 12:01:10 -0400
Oil futures leap to near $52 a barrel following Fed move

Oil futures rally 6% to above $50 for the first time in more than two
months after the Federal Reserve takes extraordinary steps to lower
borrowing costs, raising hopes for an economic recovery and higher oil
demand.

MORTGAGES: AVERAGE 30-YEAR MORTGAGE FALLS BELOW 5% TO NEAR-RECORD LOW

Rates on fixed-rate mortgages dropped to near record lows this week,
with the 30-year fixed-rate mortgage making an encoreappearance below
5%, according to Freddie Mac's weekly survey of conforming mortgage
rates, released on Thursday.

ECONOMIC REPORT: CONTINUING JOBLESS CLAIMS JUMP BY 185,000 TO RECORD
5.47 MILLION

The number of people collecting state unemployment benefits jumps by
185,000 to a record seasonally adjusted 5.47 million in the week
ending March 7, while new claims dip by 12,000 to 646,000 in the week
ending March 14, the Labor Department reports.

CITI FILES TO LAUNCH EXCHANGE OFFER, REVERSE SPLIT

Citigroup files a registration statement with the Securities and
Exchange Commission to seek shareholder approval to convert preferred
shares into common stock under its previously announced plan to build
capital.

ORACLE SHARES JUMP ON BETTER-THAN-EXPECTED RESULTS

Shares of Oracle Corp. jumped 12% Thursday morning after the software
giant reported better-than-expected results for its third fiscal
quarter, despite a negative impact from currency exchange rates.