Crude prices fall on speculation of Iranian nuclear deal
NEW YORK — Speculation that a deal with Iran over its nuclear program will yield a deal sent crude prices down Tuesday and again early Wednesday. The price for a barrel of crude dropped $1.08 to settle at $47.60 Tuesday on the New York Mercantile Exchange. Prices continued to fall early Wednesday, down 23 cents to $47.23. A deal would open more Iranian oil to the world market.
Oil sends stocks down
NEW YORK — Falling crude oil prices caused stocks to fall Tuesday. The Dow Jones Industrial Average dropped 200.9 points, or 1.11 percent, to close at 17,776.12; Nasdaq dropped 46.55 points, or 0.94 percent to 4,900.89; the S&P 500 fell 18.35 points, or 0.88 percent to close at 2.067.89.
Credit Manager's index falls again
COLUMBIA, MD — The National Association of Credit Management's Credit Managers’ Index for March fell for a second consecutive month, “We now know that the readings of last month were not a fluke or some temporary aberration that could be marked off as something related to the weather,” said NACM Economist Chris Kuehl. “These readings are as low as they have been since the recession started and to see everything start to get back on track would take a substantial reversal at this stage.”
The March index came in at 51.2, down from 53.2 in February and 55.5 in March 2014, Acording to NACM, the index is moving dangerously close to contraction zone. The index of favorable factors dropped to 55.4 while the unfavorable factors drastically fell to 48.5—a place this index has not seen since after the end of the recession. “The signal this sends is that many companies are not nearly as healthy as it has been assumed."
FORT LAUDERDALE — A Broward tax preparer must serve 70 months in prison and pay $279,903 in restitution after pleading guilty to one count each of conspiracy to defraud the government and aggravated identity theft.Julio Lugo, 38, who operated Light House Refund, filed 48 fraudulent tax returns using stolen identities. Co-defendant Jamar James received to two years probation.
Del Potro goes down; Ram vs. Querrey in Delray Beach Open finals
DELRAY BEACH — It will be an all American singles final at the Delray Beach Open, featuring Rajeev Ram and Sam Querrey. Ram defeated Bulgarian Grigor Dimitrov, the tournament's fourth seed, 6-4, 6-3, and Querrey ended Juan Martin del Potro's comeback run 7-6, 7-5 Saturday at the Delray Beach Tennis Center.
In the doubles competition, the Bryan brothers, Bob and Mike, beat Jeremy Chardy of France and Leander Paes of India 6-2, 6-3, and Oliver Marach of Austria and Fabrice Martin of France beat Treat Huey of the Philippines and Max Mirnyi of Belarus 3-6, 6-1, 10-5. READ MORE.
Semifinals set at Delray Beach Open
DELRAY BEACH — Juan Martin del Potro remained perfect Friday, beating Jeremy Chardy of France 6-2, 6-3 in his quarterfinal match at the Delray Beach Open. In two appearances at the ATP World Tour event, del Potro has yet to lose a set, let alone a match. READ MORE.