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World markets down as commodities threaten profits http://apocadocs.com/s.pl?1302869788
World stocks were mostly down Thursday amid concerns that rising food and fuel costs could undermine consumer demand, hurting economic growth and company profits.
Oil prices hovered above $107 a barrel in Asia as a large drop in U.S. gasoline supplies suggested the two-month crude rally hasn't yet undermined consumer demand. Crude has risen about 27 percent since mid-February. In currencies, the dollar was lower against the yen and the euro....
"While softness in U.S. growth is a concern, the real issue for investors is the second-round effects of high and rising commodity prices," said Clive McDonnell of BNP Paribas in Singapore. "For Asia in particular, margins in the consumer sectors are at risk as we pass the sweet spot of rising commodity and equity prices."...
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[Read more stories about:
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'Doc Jim says:
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That "sweet spot" is kinda sour, for the rest of us.
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