West Texas Intermediate crude capped the biggest weekly advance since July as the U.S. jobless rate dropped to a five-year low, bolstering the outlook for economic growth in the world’s biggest fuel-consuming nation.
Two Federal Reserve regional bank presidents who have disagreed on the need for additional easing said any decision to taper bond buying should be accompanied by a limit on the size of the program or a timetable for ending it.
Wall Street banks, which already shut proprietary trading units that helped fuel record profits, are girding to learn next week how much revenue the Volcker rule may cut from the $44 billion they say comes from market-making.
The mayor of Bridgeview, Illinois, said building a taxpayer-financed arena for the billionaire owner of Major League Soccer’s Chicago Fire would bring hotels and restaurants to his suburb. Instead, the town has more than doubled property taxes and may raise them again to pay more than $200 million in stadium debt.
Mild temperatures along the U.S. East Coast and Canadian Maritimes will reduce energy demand this week in some of the region’s largest cities, said Matt Rogers, president of the Commodity Weather Group LLC.