Ben Bernanke vs Obama

US President Barack Obama will likely name a successor to Federal Reserve Chairman Ben Bernanke in a few months, a senior White House official said Friday.

In response to a question about the much-buzzed about successor to Bernanke, whose second four-year term expires January 31, the official said tersely: "No decision made, no announcement imminent -- announcement likely not until the fall."

update gold, FRIDAY

 Global commodity prices mostly fell this week as traders took their cue from mounting worries over the Chinese economy, which is a crucial consumer of many raw materials and where data showed China's country's manufacturing activity contracted to an 11-month low in July.

OIL: World oil prices were shaken by stubborn Chinese demand concerns.
HSBC said in a survey Wednesday that its preliminary purchasing managers' index 
(PMI) hit 47.7 this month, down from a final 48.2 in June and the lowest since August. A reading below 50 indicates contraction, while anything above signals expansion.

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