From the Wall Street Journal (WSJ): Interactive map.
Friday, August 17, 2007
Posted by Ben Bittrolff at 8:40 AM
Thursday, August 16, 2007
Posted by Ben Bittrolff at 9:05 AM
The greater-than-forecast 6.1 percent decrease to an annual rate of 1.381 million, followed a 1.47 million pace in June, the Commerce Department said today in Washington. Building permits also fell to a 10-year low. "
Posted by Ben Bittrolff at 7:55 AM
Wednesday, August 15, 2007
Posted by Ben Bittrolff at 8:04 AM
Tuesday, August 14, 2007
U.S. Producer Prices Rise 0.6% in July; Core Rate Rises 0.1%: Total PPI rose 0.6% (consensus 0.1%) in July, led by a 2.5% jump in energy prices. The more closely-watched core rate rose just 0.1% (consensus 0.2%), but the year/year rate now stands at 2.3%.
U.S. Trade Deficit Unexpectedly Narrowed in June (Update1): The Trade Deficit unexpectedly narrowed in June to $58.1 bln (consensus $61.0 bln).
Wal-Mart Posts Profit Below Estimates, Cuts Forecast (Update2): Wal-Mart Stores Inc., the world's largest retailer, said second-quarter profit rose less than analysts anticipated and lowered its earnings forecast after the company cut prices on thousands of back-to-school items.
Full-year profit will be as much as $3.13 a share, the company said today, less than the $3.16 analysts had estimated.
Home Depot Net Income Falls 15% on U.S. Housing Slump (Update3): Home Depot Inc., the world's largest home-improvement retailer, said profit fell 15 percent and revenue dropped for the first time in four years after a U.S. housing slump reduced demand for appliances and remodeling.
The company also said today that it's evaluating market conditions in preparation to buy back as much as $22.5 billion in shares, adding a note of caution to its repurchase plans.
Posted by Ben Bittrolff at 8:53 AM
Monday, August 13, 2007
Fed Funds at 5 1/4%, Matching Central Bank's Target
ECB Adds Cash for Third Day, Says Market Normalizing
It looks like things are stabilizing and starting to return to normal. Federal funds began trading at 5.25 percent, matching the Federal Reserve's target and suggesting the central bank's injection of $62 billion at the end of last week met banks' demand for cash. We will see in at 9:30 AM if the Fed will have to inject more money.
Goldman Global Equity Fund Gets $3 Billion in Capital
Goldman injected another $3 billion into its Global Equities Opportunities Fund after it lost $1.4 billion. The fears of continued forced selling by some of these funds seems to be receding on this news.
U.S. Retail Sales Rose 0.3% in July, Beating Forecast
Fears that retail sales were collapsing appear to be unfounded.
" The 0.3 percent increase followed a revised 0.7 percent decline the prior month that was smaller than previously estimated, the Commerce Department said today in Washington. Purchases excluding automobiles climbed 0.4 percent after falling 0.2 percent. "
Posted by Ben Bittrolff at 9:09 AM