Oil Falls From Close to Nine-Month High; Earlier Gain Seen as Unjustified

(Bloomberg) -- Crude oil fell from near a nine-month
high in New York as some analysts and traders speculated recent
gains weren't justified.

Oil rose this week after the U.S. Department of Energy said
refineries cut processing to a six-week low last week, as demand
for gasoline grew. Oil also rose after Iran, the second-largest
producer in the Organization of Petroleum Exporting Countries,
rejected United Nations demands to quit enriching uranium.


Read more at Bloomberg Energy News

UPDATE 1-US May consumer prices up 0.7 pct, core prices tame

(Reuters) - The gain in overall prices outstripped Wall Street
economists' forecasts for a 0.6 percent rise and was the
largest since a 1.2 percent jump in September 2005. But more
closely watched core prices increased only 0.1 percent, lower
than a forecast 0.2 percent rise and down from 0.2 percent in
April.




The muted core price rise was likely to reassure financial
markets that price gains remain tame, notwithstanding Federal
Reserve officials' warning that they still see a danger from
potential inflationary pressures. "Although core inflation
seems likely to moderate gradually over time, the risks to this
forecast remain to the upside," Fed Chairman Ben Bernanke told
a monetary policy conference last week.


Read more at Reuters.com Economic News

GLOBAL MARKETS-Stocks, bonds gain on tepid U.S. core inflation

(Reuters) - LONDON, June 15 - Global stocks rose on Friday
after tepid U.S. core consumer prices reassured investors that
improving economic growth was not fuelling inflation, while the
yen sank after the Bank of Japan left interest rates on hold.




The U.S. Labor Department reported a steady rise in food and
energy costs pushed overall U.S. consumer prices up 0.7 percent
in May but that with those volatile sectors stripped out, core
inflation edged up just 0.1 percent.


Read more at Reuters.com Economic News

Marsh & McLennan's Been Down So Long, Shares Looking Up to $40 Soon Enough

(Bloomberg) -- Marsh & McLennan Cos. gets no respect
among investors and that may be reason enough to start buying the
shares of the insurance industry's largest middleman.

Ever since it was hobbled by a bid-rigging scandal that lopped
almost half of its market value in October 2004, the New York-based
broker's stock hasn't traded above $33.19, down from a high of
$67.44 in 2000. A mere two out of 13 analysts recommend buying
Marsh & McLennan, the only one of the top three brokers not to
advance since the industry paid more than $1 billion to settle
price-fixing allegations.


Read more at Bloomberg Stocks News

U.S. Stock Index Futures Rally After Measure of Consumer Prices Slows

(Bloomberg) -- U.S. stock-index futures rose after
consumer prices excluding food and energy fell in May, easing
inflation concern.

The 0.1 percent advance in the Labor Department's so-called
core consumer price index was half what economists forecast in a
Bloomberg survey. The slower growth in prices may diminish the
Federal Reserve's reluctance to lower interest rates. Fed
officials have said inflation is their ``predominant concern.''


Read more at Bloomberg Stocks News

Abbas names Fayyad new Palestinian PM: officials

(Reuters) - Fayyad is considered a moderate who has good connections with Western governments.




Read more at Reuters.com Bonds News

US RATE FUTURES-Trim losses on calm May core CPI

(Reuters) - U.S. core consumer prices, stripped of food and energy,
rose by 0.1 percent in May and the year-on-year core rose by
2.2 percent, below expectations.




Read more at Reuters.com Bonds News