Archive for August, 2008
Tuesday, August 26th, 2008
The minutes of the Federal Open Market Committee's
(FOMC) Aug. 4-5 meeting show that board members "did not see the current
stance of policy as particularly accommodative." It also revealed that
most members anticipate the next policy move to be a tightening of rates,
but the timing and extent of ...
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Tuesday, August 26th, 2008
Consumer confidence continued to rise in August, which economists
largely attribute to a drop in gas prices over the past
several months. However, despite the improvement in recent months, they
say the index remains at depressed levels.
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Tuesday, August 26th, 2008
Despite 46k of downward revisions in the previous two months, which
pushed the pace of new home sales lower than expected
even with a 2.4% monthly rebound, economists said the Department of
Commerce's July report was positive as the level of inventories saw a
notable reduction.
Eric Lascelles, chief economics and ...
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Tuesday, August 26th, 2008
In spite of the beating the stock market took on Monday with the Dow
Jones down 242 points and even though financial stocks were among the
biggest losers, Freddie Mac and Fannie
Mae shares came roaring back from their awful performance on
Friday.
Jim Cramer said on NBC news Tuesday morning ...
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Tuesday, August 26th, 2008
The Conference Board's U.S. consumer confidence index
for August improved to 56.9 in Tuesday's report, higher than the expected
improvement to 53.0.
"Consumer confidence readings suggest that the economy remains
stuck in neutral, but may be showing signs of improvement by
early next year...
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Tuesday, August 26th, 2008
U.S. house prices were flat in June following May's
revised 0.4% pullback, the Office of Federal Housing Enterprise Oversight
(OFHEO) reported Tuesday.
The consensus had been looking for a decline of 0.4% in the
month...
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Tuesday, August 26th, 2008
New home sales in the U.S. rebounded by 2.4% to an
annual pace of 515k in July, the Commerce Department reported Tuesday.
Despite the percentage gain, that pace of sales is much lower than
expected following 46k of downward revisions to the previous data.
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Tuesday, August 26th, 2008
Speaking in an interview with Dow Jones Newswires on Monday, Dallas
Fed President Richard Fisher (voter) said growth in the
U.S. could slow to zero or even turn negative in the second half of 2008,
but the main issue remains whether inflation will become persistent or
not.
Read More ...
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Tuesday, August 26th, 2008
The S&P Case-Shiller U.S. home price index fell less
than expected in the second-quarter as the 20-city composite index posted
an annual decline of 15.38%, up from a 14.22% decline in the first
quarter.
The Case-Shiller index has fallen every month since peaking in July
2006, but economists say the ...
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Tuesday, August 26th, 2008
Housing data will be center of attention on Tuesday
with the release of U.S. new home sales for July and the June Case-
Shiller Home Price Index.
U.S. new home sales are expected to fall 0.9% to 525k in July
following June's decline of 0.6%. Meanwhile, the Case-Shiller home price
composite for ...
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