AP News

News Summary: Weak economic outlook sinks metals


COPPER CRUSH: The price of copper and other metals fell broadly Friday as the outlook for the economy continued to darken. Stocks fell following poor earnings reports from big-name companies including General Electric, McDonald's and Microsoft.

BY THE NUMBERS: Copper gave up 10.55 cents, or 3 percent, to settle at $3.6375 a pound. Palladium decreased $24.20 to $623 an ounce and platinum dropped $28.20 to $1,615.50 per ounce. Gold fell $20.70 to finish at $1,724 per ounce.

ENERGY FADE: Energy products also fell broadly. Benchmark crude fell $2.05 to $90.05 per barrel on the New York Mercantile Exchange. Heating oil fell 5.21 cents to $3.1345 per gallon and wholesale gasoline dropped 4.88 cents to $2.6963 per gallon.


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