Quotenews Stock Blog
Before the bell 10-12-06: AAPL, GE, TWX, WMT
I can start this morning using my favorite pun -- oil might fuel stocks today. Oil prices have reached their lowest level of the year, dropping 25% since July. OPEC member-countries still want to cut production by 1 million barrels a day, yet the Saudis have yet to confirm this. Also today, the weekly crude inventory numbers will be reported and are expected to show gains of about 500,000 barrels.

After examining carefully the Fed minutes, today investors will be able to go through the Federal Reserve's Beige Book. The Beige Book is a snapshot account of business conditions compiled from the 12 regional Fed banks. Investors will look for indications as to the state of the U.S. economy, specifically, how the economy is reacting to lower oil prices and the state of the housing market.

Another economic indicator released today is the August trade balance. Economists forecast the gap fell to $66.5 billion from $68.0 billion in July.

Bond prices continued their decline yesterday as the Fed minutes indicated that policymakers are still concerned about inflation and gave little hope for a rate cut. The yield on the benchmark 10-year Treasury note rose to 4.78% from 4.76% late Tuesday. This morning, Treasury prices were slightly higher as the yield on the 10-year note edged lower to 4.77%.

In international markets, Asian stocks closed mixed but European stocks are generally up at the moment.
Posted 2006-10-12 By : cialis soft buy on line View Comments[ 0 ]  | Add Comment
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