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| BG, DG, Took my vacation yesterday, actually there were network problems. Personal Income.......-.2% In line with expectations. Personal Spending.....+.2% Had been expected to be -.2% Chicago PMI 9:00 am(Eastern) NEW YORK (CNNMoney.com) -- Oil prices turned higher Friday as Tropical Storm Gustav passed over Jamaica and threatened oil infrastructure in and around the Gulf of Mexico. Going with DOWN on Friday,gl, baz |
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| BG, DG, Hurricane Gustav may have cast the deciding vote: NEW YORK (CNNMoney.com) -- Hurricane Gustav has shut down nearly all crude oil production and 82% of natural gas production in the Gulf region, according to a Department of Energy report issued Monday. Hard to see the Market up on this kind of news. Going with DOWN on Tuesday,gl, baz |
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| [BRIEFING.COM] S&P futures vs fair value: +10.2. Nasdaq futures vs fair value: +21.3. Stock futures suggest a sharply higher open as commodities plummet after Hurricane Gustav caused less damage than expected. Crude oil prices are down 6.0% to $108.57. Gasoline (-6.6%), natural gas (-6.6%), corn (-4.7%) and gold (-3.1%) are also posting steep declines. In corporate news, Korea Development Bank confirmed that it is in talks to invest in Lehman Brothers (LEH), which follows weeks of speculation that the two firms were in discussions, according to reports. No major companies are reporting earnings this morning. On the economic front, the construction spending and ISM Index reports are set for release at 10:00 ET. |
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| DOW +164 "Stocks soared Tuesday as oil prices plunged on reports that the Gulf Coast and i ts oil facilities have been spared heavy damage from Hurricane Gustav." OUCH!! So much for the Energy Department Report. Go figure.Going to try to get my money back with the RedSoxs today. gl, baz |
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