Most commodities higher on mix of economic news (AP)

Commodity prices are mostly higher as Europe's financial problems were offset by signs of an improving U.S. economy.

Many commodities benefited as investors looked for bargains Friday after sharp, across-the-board sell-offs earlier in the week. Metals and agricultural contracts rose; energy fell.

U.S. government reports have shown a drop in the number of people filing for unemployment claims and an improvement in manufacturing in the New York and Philadelphia regions.

The news is more troubling in Europe. Italy's lower house of parliament has approved an austerity package, but Fitch ratings agency is warning it could downgrade six nations that use the euro, including Italy and Spain.

Many analysts believe commodity prices will remain uneven over the next couple of weeks.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111216/ap_on_bi_ge/us_commodities_review

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