Europe Markets up slightly on lower oil prices.
Future's Indicators very bullish(which as proven a contrarian indicator).
Looking for the Market to rally on lower oil prices and gain momenteum on
the Supply Management Report at 10a.m.(Eastern). Then at some point start to drift
down into the end of the day. Would note if theirs any kind of late rally the
last half hour.
Investors will also be faced with the question if the Fed can now slow it's
interest-rate hiking campaign down?
going with DOWN on Tuesday.
From
www.cnn.com
"gas prices hit a fresh national record of close to $3 a gallon Friday and could
even hit $4 a gallon in the coming weeks, experts say."
Consumers were already starting a spending retreat before the hurricane Katrina.
Recent high oil prices and new hurricane prices will cut into some future corporate profits.
It will help some Homebuilders. Some insurance companies with large southern
exposure will be hit. Transportation companies profits will be hurt by higher gas costs.
Airlines?
This Week:
* The Federal reserve releases its Beige Book Wednesday. The survey of the central bank's 12 districts
is used in making the decision about short-term interest rates.
* The July wholesale inventories report, due Thursday, is expected to show a rise of 0.7 percent,
just as it did in June, according to forecasts.
* National Semiconductor (Research) is expected to report quarterly earnings Thursday during the trading session.
The chipmaker is expected to have earned 21 cents per share, down from 31 cents a year ago.
* Both Intel (Research) and Texas Instruments (Research) give their mid-quarter updates after the bell Thursday.
What the two chipmakers have to say about tech spending will be seen as indicative of the broader tech sector.
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"A Bullish Trader who never believes in bear markets,
is like Ship Captain who doesn't believe in low-tides."
gl,
baz