End of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legend Don’t miss out on the latest news and information. Sports Related Videospowered by AdSparcRead Next The winner of the two-leg final advances to the inter-zonal semifinals against Istiklol of Tajikistan. Ceres will host the second leg on Aug. 9.Serbian coach Risto Vidakovic would rather have his squad seize control of the tie early with a strong performance in the first leg kicking off at 7:30 p.m.“We reached the final because we fought and played as a team against strong teams. We have to do the same to get a good result for us to have control when we play at home,” said Vidakovic.FEATURED STORIESSPORTSEnd of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legendSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’ Indian national gunned down in Camarines Sur ‘I’m out!’: PewDiePie releases last video before taking break from YouTube McGregor blasts Cerrone in 40 seconds in UFC return LATEST STORIES Ceres Negros hopes to gain an early advantage when it clashes with Singaporean side Home United on Wednesday in the first leg of the AFC Cup Asean zonal finals at Jalan Besar Stadium in Singapore.The Busmen, who reached the final with a stunning upset of Johor Darul Ta’zim of Malaysia, added Stephan Schrock and Omid Nazari to beef up the squad while Patrick Reichelt is also expected to return from injury.ADVERTISEMENT MOST READ 787 earthquakes recorded in 24 hours due to restive Taal Volcano Sparks begin life without Younghusband brothers Ai-Ai delas Alas on Jiro Manio: ‘Sana pinahalagahan niya ang naitulong ko’ Filipinos turn Taal Volcano ash, plastic trash into bricks PLAY LIST 01:40Filipinos turn Taal Volcano ash, plastic trash into bricks01:32Taal Volcano watch: Island fissures steaming, lake water receding02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite Marcosian mode: Duterte threatens to arrest water execs ‘one night’ LeBron James scores 31 points, Lakers beat Rockets Kawhi Leonard, Clippers rally to beat Pelicans View comments
Economic data expected to roll out this week could give investors a better sense of whether to expect more of the interest rate cuts that touched off last week’s rally. Findings due today include reports on sales of existing homes for August and the Richmond Fed’s regional survey. Many investors hope readings on durable goods and consumer spending later this week will give the Fed room to cut rates still further when it meets next month. Among financial stocks, Citigroup Inc. fell 92 cents to $46.59 while JPMorgan Chase & Co. declined 79 cents to $46.34 after the IMF concerns about prolonged tightness in the credit markets and its contention that regulators should tighten their oversight of financial institutions to rein in some of the newer debt products that have in part allowed easy access to credit in recent years. Housing stocks fell sharply ahead of the data on existing-home sales and a report on quarterly results from Lennar Corp. Lennar fell $1.14, or 4.5 percent, to $24.18, while Pulte Homes Inc. ended down $1.06, or 6.6 percent, to $15.10. In corporate news, GM fell 20 cents to $34.74 after thousands of UAW workers walked off the job as negotiations between the union and the automaker remained stymied – mainly over the issue of job security.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! NEW YORK – Wall Street retreated Monday, taking a break from last week’s big advances, as financial stocks fell amid fresh concerns about soured loans. With little fresh data to go on Monday, investor enthusiasm weakened by midsession and sectors from banks to home builders showed declines, while technology stocks fared better. Stocks began to give up their gains after the International Monetary Fund warned the credit upheaval hurting international financial markets would likely be “protracted” and dampen growth of the global economy. While its stock didn’t fall sharply, General Motors Corp. shares lost ground after the United Auto Workers began its first nationwide strike during auto contract negotiations since 1976. In addition, the stock market’s pullback might have been expected after gains last week of more than 2.5 percent in the major stock market averages. “I think you’re seeing some profit taking after last week’s rally,” said Scott Fullman, director of investment strategy at Israel A. Englander & Co. “You have consumer confidence that is something being closely watched, and you’re seeing a general end of quarter nervousness.” In addition to declines in the Dow Jones, S&P 500 and Nasdaq, the dollar fell against major currencies, hitting a fresh low against the euro, and gold prices rose. Oil prices fell as a tropical depression in the Gulf of Mexico dissipated without causing damage to key oil and gas infrastructure. A barrel of light, sweet crude settled down 67 cents at $80.95 on the New York Mercantile Exchange. There were no major economic reports Monday. However, Dallas Fed President Richard Fisher said a downturn in inflation gives policymakers “some wiggle room” to further cut interest rates. Fed Chairman Ben Bernanke gave a speech on education but did not touch upon economic issues.