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Market
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Financial News Overview
(updated daily)
7/18/2008
Oil has begun to spell relief for the equity markets. On Friday light, sweet crude fell 41 cents to settle at $128.88 on the NY Merc. The record that it had traded at was $147 a week earlier. Prices at the pump remain high at $4.105.
Citigroup reported a second quarter loss but beat analysts’ estimates. The loss of $2.5 billion due to write-downs in the credit markets help to mitigate some concerns over big losses from Merill Lynch on Thursday.
Some more banks will be among the companies report next week. These include Wachovia Corp., Washington Mutual and Bank of America.
Key economic data for the week starting July 21st, 2008. Numbers shown are consensus estimates (market anticipates this value) and prior value.| Monday: |  | 10:00 Leading Indicators Jun -0.1% 0.1% |
| Wednesday: | | 10:35 Crude Inventories 07/19 NA 2952K |
| Thursday: | | 10:00 Existing Home Sales Jun 4.95M 4.99M |
| Friday: | | 10:00 Mich Sentiment-Rev. Jul NA NA
10:00 New Home Sales Jun 505K 512K |
| Disclaimer: The
"Financial Press Overview" is intended for educational purposes only – it does
not constitute trading advice, nor does it make or imply any market trend
predictions. The "Financial Press Overview" is based on the summary from the
most popular financial media. Very often in spite the positive news the market
tends to move lower and the opposite is true for negative mood in the media. |
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