This Week’s Market Buzz

Oil prices turned higher as investors weighed data showing a drop in U.S. crude supplies against the Organization of the Petroleum Exporting Countries’ decision not to freeze production. The U.S. data demonstrated how more than a year of low prices and spending cutbacks by oil companies are leading to shrinking supplies, helping reduce the oversupply of crude oil without intervention…

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Hyundai Construction Equipment Adds Four Dealers

Hyundai Construction Equipment Americas announced the expansion of its North American authorized dealer network with the addition of four dealerships, including three in the United States and one in Canada. Joining the Hyundai authorized dealer network are Columbia, Mo.-based EquipmentShare, serving northern and eastern Missouri; Belmont, Ohio-based RECO Equipment Inc., serving Ohio, Indiana, eastern Kentucky and eastern Tennessee from multiple locations;…

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Construction Spending: Healthy Gains Year-Over-Year

The U.S. Census Bureau of the Department of Commerce announced that construction spending during April 2016 was estimated at a seasonally adjusted annual rate of $1,133.9 billion, 1.8 percent (±1.3 percent) below the revised March estimate of $1,155.1 billion. The April figure is 4.5 percent (±1.6 percent) above the April 2015 estimate of $1,085.0 billion.

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