Monthly Archives: August 2008

REVIEW This weeks economic reports were better than expected. Housing sales increased, but so did supply. Housing prices continued to decrease, but not at the rate of recent declines. Q2 GDP was revised to +3.3% from +1.9% on inventory buildups and … Continue reading →

SHORT TERM: rally fizzles to end the month, DOW -171 Overnight the Asian markets were all higher, and Europe opened higher then closed +0.45%. At 8:30 the core PCE was reported up 0.3%, while consumer spending and incomes declined. Stocks gapped down … Continue reading →

SHORT TERM: market rallies on Q2 GDP revision, DOW +213 Overnight the Asian markets were mixed, but Europe opened lower and closed +1.45%. At 8:30 the Commerce Dept. reported that the revised Q2 GDP has been raised from 1.9% to … Continue reading →

SHORT TERM: market continues bounce off 1261 pivot, DOW +90 Overnight the Asian markets were mixed, and Europe opened lower but closed mixed as well. At 8:30, July durable goods orders were reported +1.3% and June was upgraded to +1.3% as well. … Continue reading →

SHORT TERM: market holds support closes mixed, DOW +27 Overnight the Asian markets were mostly lower following the selloff in the US yesterday. Europe open lower, but closed mixed. At 9:00 the Case-Shiller housing price index reported that prices had … Continue reading →