Stock market 8/18

khosk · 08-18-2009, 07:40 AM

Futures are up while investors await data on housing starts and the release of the PPI. Housing is expected to be a little better and PPI to have dropped a little after a big gain the previous month. Home Depot reported better than expected earnings but worse sales. Even though Home Depot beat the street, I don't think investors will be happy because of the huge drop in sales and profits from last year.

I'll link later to a story that is developing in the Blog world of evidence that the Fed engineered a behind the scenes deal to buy treasurys after a failed auction. The story is a little hard to follow but if true would be pretty scary.

khosk · 08-18-2009, 09:01 AM

Housing starts dropped for July which I think is quite as surprise and not a good sign. PPI dropped quite a bit more than expected which probably indicates the Fed still is fighting deflation. A report is out that banks are still tightening lending.

khosk · 08-18-2009, 05:37 PM

Website is back up just in time for a breaking story. The API reported a drop in oil inventories of 6.8 million barrels. Analysts were expecting a rise of 1.5 million. As can be expected oil is responding up over $3 a barrel to break $70.

The stock market had a nice little recovery.

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08-18-2009, 07:40 AM	#1
khosk Administrator Male Join Date: Mar 2005 Location: Simpsonville, SC Posts: 12,360 CockyCash: 109993	Stock market 8/18 Futures are up while investors await data on housing starts and the release of the PPI. Housing is expected to be a little better and PPI to have dropped a little after a big gain the previous month. Home Depot reported better than expected earnings but worse sales. Even though Home Depot beat the street, I don't think investors will be happy because of the huge drop in sales and profits from last year. I'll link later to a story that is developing in the Blog world of evidence that the Fed engineered a behind the scenes deal to buy treasurys after a failed auction. The story is a little hard to follow but if true would be pretty scary.

08-18-2009, 09:01 AM	#2
khosk Administrator Male Join Date: Mar 2005 Location: Simpsonville, SC Posts: 12,360 CockyCash: 109993	Re: Stock market 8/18 Housing starts dropped for July which I think is quite as surprise and not a good sign. PPI dropped quite a bit more than expected which probably indicates the Fed still is fighting deflation. A report is out that banks are still tightening lending.

08-18-2009, 05:37 PM	#3
khosk Administrator Male Join Date: Mar 2005 Location: Simpsonville, SC Posts: 12,360 CockyCash: 109993	Re: Stock market 8/18 Website is back up just in time for a breaking story. The API reported a drop in oil inventories of 6.8 million barrels. Analysts were expecting a rise of 1.5 million. As can be expected oil is responding up over $3 a barrel to break $70. The stock market had a nice little recovery.

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