Stock Market Update -Aug 17th

The market was up a bit this week, while the US Dollar continued its strong rally fueled by weakness in the Eurozone economy. Gold fell to just under $800, in spite of signs of higher inflation from the CPI report. Foreclosures also continue to rise. Wachovia bank said it would cut 600 more jobs, bringing the total to over 11,000.



Next week we get earnings from Hewlett Packard, Home Depot, and a few more retailers.
September Crude Oil futures also expire next week. The equity market may well continue its recent up-trend.

Europe Facing Much Slower Growth
Consumer prices rise at double expected rate
Japan Economy Shrinks 2.4%, Signaling Recession Looms
Dow off 140 as big banks slump
Morgan Stanley to repurchase troubled securities
2 Banks Will Buy Back $17 Billion in Securities
UBS carves up bank structure as rich clients flee
One Third of New Owners Owe More Than House Is Worth
Gold plunges to 8-month low as investors jump ship
Stocks and Indexes mentioned in this blog are for educational and illustration purposes only.