The Financial stocks took a beating again this week, but recovered a bit near the end of the week. Apple shares fell this week as well after the much anticipated announcement of the new iPhone. Bond prices fell, helping to push mortgage rates up. The US Dollar continued to gain ground. Corn and Soybean prices are on the rise again -Corn surged to new record highs!Next week we have expiration of the June Options and Futures contracts on Friday. We also get earnings reports from some of the big financial firms.
Keep your eye on the Regional Banks...
News stories:
May foreclosures rise 50%
U.S. home prices may dip 30%, junk bonds weaken by 2010, says J.P. Morgan analyst
Mortgage Rates Fly Higher
Heads roll as banks scurry for high ground
Wachovia, WaMu still in big trouble
Lehman raising $6B in capital, expects $2.8B loss
Lehman shares plummet amid write-down fears
Derivatives Market Grows to $596 Trillion on Hedging
A Banner Year for Farmers Buried By Floods
Stocks and Indexes mentioned in this blog are for educational and illustration purposes only.
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