Crude rises for third session on economic hopes

Date: Wed, 27 May 2009 12:01:30 -0400

Crude rises for third session on economic hopes

Crude-oil futures give back much of their earlier gains, on the heels
of two winning sessions, as mixed-bag housing data spell modest
selling pressure in equities.

GOLD DOWN FOR SECOND DAY, ON STRONGER DOLLAR

Selling in gold futures carries into a second session, slipping as the
dollar gains on the euro, lessening the metal's investment appeal.

WEDNESDAY'S BIGGEST GAINING AND DECLINING STOCKS

Stocks making notable moves in Wednesday's session include Cree,
SanDisk, Take-Two, Big Lots and General Motors.

HOME SALES RISE 2.9%, BOOSTED BY BOTTOM FISHING

Boosted by sales of foreclosed homes and incentives for first-time
buyers, sales of pre-owned homes rise 2.9% to a seasonally adjusted
annual rate of 4.68 million in April, a real estate trade group
reports.

MORTGAGE APPLICATIONS FELL 14.2% LAST WEEK: MBA

Mortgage applications filed last week fell a seasonally-adjusted 14.2%
last week, compared with the week before, as rates on 30-year
fixed-rate mortgages ticked up, according to the Mortgage Bankers
Association's weekly survey.