| Oil Inventories Fell Last Week
Crude-oil inventories fell unexpectedly last week after posting gains in the prior seven periods, according to government data published Wednesday. For the week ended Feb. 29, crude-oil inventories fell by 3.1 million barrels, or 1 percent, to 305.4 million barrels, the Energy Department's Energy Information Administration said in its weekly report. While the stockpiles were 4 percent below year-ago levels, analysts had expected a gain of 2.3 million barrels, according to a survey by Dow Jones Newswires. .
Stocks to Watch for Thursday: UDTT, MS, LMT, AMZN
Wall Street Press Wire (www.WallStreetPressWire.com) is please to highlight its "stocks on the move" for Thursday. Our list includes: Universal Detection Technology (OTC BB:UDTT.OB - News), Morgan Stanley (NYSE:MS - News), Lockheed Martin (NYSE:LMT - News) and Amazon.com Inc. (NasdaqGS:AMZN - News). .
Australia Stocks Expected To Open Lower
(RTTNews) - Australian stocks are expected to open lower again on Wednesday, coming off of lower base metals prices overnight and a weak lead from Wall Street. The sharemarket moved lower on Tuesday, as the Reserve Bank of Australia raised its benchmark interest rate a quarter-point to 7,25 percent in response to inflation fears. Australia's S&P/ASX200 index fell 25.5 points, or 0.47 per cent, to 5,380.3 points, while the All Ordinaries index dropped 31.5 points, or 0.57 per cent, to 5,479.2. Trading volume totaled 1.6 billion shares valued at around A$6.4 billion. Decliners led advancers 812 to 429 with 345 issues unchanged. The resources sector was mixed, with mining conglomerate BHP Billiton higher by .07 and rival Rio Tinto up .83.
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