<p>By 1:22 pm Eastern, the Dow is up slightly by 0.14 percent, the tech-heavy NASDAQ was up 0.16 percent, while the S and P 500 added close to a third of a percent (<a title="Yahoo Finance" href="http://finance.yahoo.com/"><font color="#92b211">Yahoo Finance</font></a>).</p>
<p>Asian stocks closed deep into the red, between 2-3 percent, while most major European indexes closed in negative territory except for Germany’s DAX, which closed up 0.43 percent. And the DJ Stoxx index was slightly up by 0.08 percent (<a title="CNNMoney.com" href="http://money.cnn.com/data/world_markets/index.html"><font color="#92b211">CNNMoney.com</font></a>).</p>
<p><strong><a title="Crooks On Currencies" href="http://crooksblog.sovereignsociety.com/2007/08/logical-story-a.html"><font color="#92b211">Jack Crooks</font></a>: Key News</strong></p>
<p>Key Reports Due (WSJ):<br />
7:00a.m. MBA Mortgage Application Survey. Previous: +9.1%.<br />
8:30a.m. July Consumer Price Index. Expected: +0.1%. Previous: +0.2%.<br />
8:30a.m. July CPI, Ex-Food & Energy. Expected: +0.2%. Previous: +0.2%.<br />
8:30a.m. Aug NY Fed Manufacturing Index. Expected: 17.75. Previous: 26.46.<br />
9:00a.m. June Treasury International Capital Flows. Previous: $112.6B.<br />
9:15a.m. July Industrial Production. Expected: +0.2%. Previous: +0.5%.<br />
9:15a.m. July Capacity Utilization. Expected: 81.7%. Previous: 81.7%.<br />
3:00p.m. Aug NAHB Housing Market Index. Previous: 24.</p>
<p><strong>Quotable</strong></p>
<p>“A black cat crossing your path signifies that the animal is going somewhere.”</p>
<p> Groucho Marx</p>
<p> The masterpiece below deserves honorable mention. And there’s a video attached to that link if you’re interested.</p>
<p><a title="Ed Strong" href="http://edstrong.blog-city.com/easy_credit_capitalism_persuades_us_to_live_beyond_our_me.htm"><font color="#92b211">Easy Credit: Capitalism “Persuades” Us to Live Beyond Our Means </font></a>:</p>
<h5> </h5>
<p>“The economy grew, mainly because Americanswere persuaded to take on more debt,refinancing their mortgages and consuming more…As long as housing prices rose as a result of lower interest rates, they could ignore their growing indebtedness. Even easier credit not stimulate the economy enoughTo get more people to borrow more money,credit standards were lowered, fueling growth in so-called “subprime” mortgages. Moreover, new products were invented, which lowered upfront payments, making it easierfor individuals to take bigger mortgages.”</p>
previous article: Can Paper be a Battery ?
next article: what is Asthma
Leave Your Comments