Friday Market Session - U.S, Europe, Oil- Oil and Gas News

S stocks fell sharply on Friday after shortfall earnings from Google and Caterpillar and anxiety about available credit for corporate buyouts. While the meltdown in subprime mortgage market has been the most worrying reason for credit market concern recently, there are risky loans everywhere, including those that have helped fuel a historic boom in private-equity buy-outs. European shares dropped on Friday after worse-than-forecast earnings from Ericsson and Tietoenator weighed on the technology sector. Crude-oil futures closed lower Friday, retreating from an 11-month high of $76. Crude for August delivery closed 35 cents lower at $75. September crude, which has became the front-month contract closed down 28 cents at $75. read more

[Tags]closed, friday, index, 2, august, lower, oil and gas news[/Tags]

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