Markets Friday, 08/17/2007

Friday, 8/17/2007

| Dow : 13079.08 up 233.30

| S & P : 1445.94 up 34.67

| NASDAQ: 2505.03 up 53.96

| Bond (10Y): 4.67%, 100.56

MARKETS:
Stocks soar into the weekend
Wall Street rallies on discount rate cut by Federal Reserve, but credit
fears persist.

What the Fed cut means for consumers

Friday, August, 17, 2007

What the Fed cut means for consumers

The Federal Reserve announced Friday that it's cutting its discount rate
temporarily by a half percentage point to 5.75 percent, but the move
won't have a major effect on consumer interest rates.

The central bank is responding to fears about the meltdown in loans to
people with poor credit, plus it's concerned about the big swings in the
stock markets.

The discount rate is the rate that Federal Reserve banks charge
borrowers - like commercial banks - for loans.

The central bank did not change its more closely-watched federal funds
rate which affects rates that consumers pay on various types of loans.

That rate remains at 5.25 percent.

The discount rate move eases the pressure on banks who are having
trouble borrowing to offer loans to consumers and business.

It's symbolic. The Central bank is trying to inject some confidence in
the banking business. Fed bankers are saying "We're not going to sit
idly by and watch the credit crunch stop lending and cause the economy
to seize up."

The Fed's move doesn't directly impact interest rates that consumers pay
on credit cards or mortgages.

However, by instilling confidence - and sending a message it's willing
to act in this crisis - lenders are likely to weather the credit crunch
better and that means consumers are more likely to the get the loans
they need.

In fact, one mortgage broker told me today that he expects the spike in
interest rates on large loans - what they call jumbo mortgage loans - to
come down quickly. Who said bankers were immune to emotions?

Typically the Fed cuts the discount rate and the federal funds rate at
the same time. So, if this cut does the trick - stabilizes the market
and injects confidence into the system - we may not get a follow-up rate
cut.

U.S. stocks soar after Fed steps in

11:46 am ET Aug 17, 2007

DJIA

13,013

+168.19

S&P

1,435

+23.86

NASDAQ

2,494

+43.50

10Yr

4.68%

+0.077

U.S. stocks soar after Fed steps in

NEW YORK
U.S. stocks remained higher Friday but significantly pared gains as
investors mulled the impact of the Federal Reserve's move to cut its
discount interest rate in an attempt to ease concerns over liquidity.

The Fed: CORRET: Fed cuts discount rate to ease credit crunch

WASHINGTON
In a move wildly applauded by financial markets on both sides of the
Atlantic, the Federal Reserve announced Friday that it's cut the
discount rate by a half percentage point to 5.75%.

The Ratings Game: Countrywide upgraded as analysts say lender can
weather the storm

BOSTON
An analyst at Banc of America Securities upgraded shares of troubled
mortgage lender Countrywide Financial Corp. to neutral from sell Friday,
saying that tapping its $11.5 billion credit facility should provide
Countrywide the time needed to address liquidity and capital concerns.

London Markets: British stocks jump after Federal Reserve discount rate
cut

LONDON
British stocks surged on Friday after the U.S. Federal Reserve stepped
in with a half-point cut to a key lending rate, led by financial
services firms on hopes for a full-fledged rate cut.

Whole Foods, Wild Oats shares zoom; deal gets legal boost

NEW YORK
Shares of Whole Foods Market Inc. and Wild Oats Markets Inc. soared in
Friday morning trading after a federal judge rejected a U.S. Federal
Trade Commission request to block the combination of the two companies.

Forums:

Date: 17 Aug 2007 15:43:55 -0000
新聞評論：上合組織軍演

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More...go to

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Dow gain reaches 300 points as stocks surge after Fed discount rate cut.

Date: Fri, 17 Aug 2007 09:37:56 -0400

Dow gain reaches 300 points as stocks surge after Fed discount rate
cut.

Breaking News: Fed cuts discount rate by 0.5%

Date: Fri, 17 Aug 2007 08:01:58 -0500
Breaking News

WASHINGTON - The Federal Reserve, declaring that increased economic
uncertainty poses risks for U.S. business growth, announced Friday that
it has approved a half-percentage point cut in its discount rate on
loans to banks.

Markets Thursday, 08/16/2007

Thursday, 8/16/2007

| Dow : 12845.78 down 15.69

| S & P : 1411.27 up 4.57

| NASDAQ: 2451.07 down 7.76

| Bond (10Y): 4.65%, 100.72

MARKETS:
Dow makes stunning comeback
Major gauges erase most of the day's losses as investors recover
from mortgage, credit fears; Dow, Nasdaq, S&P 500 bounce back after
falling 10% from 2007 highs.

Dow industrials claw their way back into positive territory after falling 341 earlier in the session.

Date: Thu, 16 Aug 2007 15:57:49 -0400

Dow industrials claw their way back into positive territory after
falling 341 earlier in the session.

Breaking News Thu., August 16, 2007

Date: Thu, 16 Aug 2007

DOW FALLS BELOW 12,600, DURING AFTERNOON TRADING MARKING A 10 PERCENT
LOSS FROM MOST RECENT HIGH -- THIS IS THE FIRST TIME SINCE LATE 2002
THAT THE MARKET HAS SEEN A 'CORRECTION'

Market Slides As Mortgage Woes Escalate

Date: Thu, 16 Aug 2007 11:30:00 -0400
Market Slides As Mortgage Woes Escalate

Stocks fell sharply after a move by Countrywide Financial Corp.
confirmed fears of widening problems with some mortgages and tighter
access to credit. The Dow Jones industrials fell more than 100 points in
early trading. 

U.S. stocks decline further as credit saga continues

Date: Thu, 16 Aug 2007
11:46 am ET

DJIA

12,690

-171.36

S&P

1,390

-16.68

NASDAQ

2,433

-25.63

10Yr

4.66%

-0.047

U.S. stocks decline further as credit saga continues

NEW YORK
U.S. stocks retreated Thursday amid data illustrating the deepening
slump in the housing sector and word that Countrywide Financial, the
nation's largest mortgage lender, was drawing on an $11.5 billion line
of credit.

Economic Report: U.S. housing starts hit 10-year low in July; permits
also lower

WASHINGTON
U.S. home builders cut back again in July, starting construction on the
fewest number of new homes in more than 10 years, the Commerce
Department reported Thursday.

The Fed: Analysts start to pencil in Fed rate cut in October

WASHINGTON
Faced with tightening credit markets, Wall Street is clamoring for the
Federal Reserve to cut interest rates, but so far there is no indication
that the central bank will oblige.

Europe Markets: European shares drop sharply as banks and miners fall

LONDON
European shares slumped Thursday, with the top British index retreating
below a key level for the first time since March, as investors once more
sold down financial stocks as they worried about the extent of current
credit market woes.

Asian markets skid on heavy selling

HONG KONG
Asian indexes skidded Thursday as investors concerned about the health
of global credit markets continued to sell stocks across the board.

Housing starts lowest in more than 10 years in July, down 6.1% from June; permits lowest in nearly 11 years.

Date: Thu, 16 Aug 2007 08:32:54 -0400

Housing starts lowest in more than 10 years in July, down 6.1% from
June; permits lowest in nearly 11 years.

Countrywide shares down 17% in premarket trading after mortgage lender draws on $11.5B credit line.

Date: Thu, 16 Aug 2007 07:42:49 -0400

Countrywide shares down 17% in premarket trading after mortgage lender
draws on $11.5B credit line.

Markets Wednesday, 08/15/2007

Wednesday, 8/15/2007

| Dow : 12861.47 down 167.45

| S & P : 1406.70 down 19.84

|NASDAQ: 2458.83 down 40.29

| Bond (10Y): 4.72%, 100.22

MARKETS:
Dow hits 4-month low
Major gauges tumble, Dow and Nasdaq end lower for fifth straight session
on revived worries about credit and mortgage market.

Forums:

Date: 15 Aug 2007
論壇：日本戰敗62周年

８月15日是日本投降日和中國抗戰勝利日，中日兩國應該如何以史為鑒？ More...go to

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U.S. stock end sharply lower as credit woes return

4:04 pm ET Aug 14, 2007

DJIA

13,028

-207.61

S&P

1,426

-26.38

NASDAQ

2,499

-43.12

10Yr

4.73%

-0.046

U.S. stock end sharply lower as credit woes return

NEW YORK
U.S. stocks fell sharply Tuesday, taking the Dow industrials down by
over 200 points and within less than 30 points of the 13,000 level, as
credit concerns came back to the fore.

Trichet, others see banking system returning to normal

LONDON
After central banks rode to the rescue with billions in emergency
temporary loans last week, liquidity is returning to the global banking
system, European Central Bank President Jean-Claude Trichet and other
observers said Tuesday.

IPO Report: VMware surges almost 76% on its first day of trading

SAN FRANCISCO
VMware Inc. shares climbed almost 76% Tuesday in a strong debut from EMC
Corp.'s software spinoff, which raised nearly $1 billion from
tech-hungry investors.

Shaky HD Supply deal threatens big buyback plan

CHICAGO
Home Depot's $10.3 billion deal to sell its supply business to a
private-equity group appears to be on shaky ground and could upend a big
chunk of the retailer's massive stock buyback program.

Dow industrials plunge 211 points at the close on credit woes, ongoing mortgage turmoil and disappointing corporate profits.

Date: Tue, 14 Aug 2007 16:01:53 -0400

Dow industrials plunge 211 points at the close on credit woes, ongoing
mortgage turmoil and disappointing corporate profits.

U.S. stock declines deepen on Sentinel woes

11:46 am ET Aug 14, 2007

DJIA

13,101

-135.26

S&P

1,436

-16.64

NASDAQ

2,521

-21.09

10Yr

4.74%

-0.042

U.S. stock declines deepen on Sentinel woes

NEW YORK
U.S. stock losses accelerated Tuesday after reports Sentinel Management
Group sought to halt redemptions to money-market fund holders,
exacerbating worries about a liquidity crunch.

Trichet, others see banking system returning to normal

LONDON
After central banks rode to the rescue with billions in emergency
temporary loans last week, liquidity is returning to the global banking
system, European Central Bank President Jean-Claude Trichet and other
observers said Tuesday.

Wal-Mart stock drops after retailer cuts earnings forecast

CHICAGO
Wal-Mart Stores Inc. saw its shares drop more than 5% Tuesday after the
retailer said its earnings performance for the rest of the fiscal year
will face continuing pressure from global economic woes.

Home Depot profit drops 15%, backs full-year view

CHICAGO
Home Depot Inc. on Tuesday said second-quarter profit dropped nearly
15%, stung by weakness in the U.S. housing market, but the
home-improvement retailer backed its forecast for the year.

Mattel to recall more toys on lead paint, magnet concerns

NEW YORK
Mattel Inc., the world's largest toymaker, announced its second recall
this month, involving 18.6 million toys worldwide on magnet and lead
paint hazard concerns.

Mattel Recalls 8.8 Million More Toys

Breaking News
August 14, 2007
Mattel Recalls 8.8 Million More Toys

In another blow to the toy industry, Mattel issued recalls for millions
of Chinese-made toys that contain magnets that can be swallowed by
children or could have lead paint. The recall includes 7.3 million play
sets and 1.5 million die cast cars. 

U.S. trade gap falls to $58.1 billion in June, less than expected ; wholesale prices up more than expected overall.

Date: Tue, 14 Aug 2007 08:31:55 -0400

U.S. trade gap falls to $58.1 billion in June, less than expected ;
wholesale prices up more than expected overall.

CPSC says Mattel recalling millions of toys due to lead paint, loose magnet hazards.

Date: Tue, 14 Aug 2007 09:32:06 -0400

CPSC says Mattel recalling millions of toys due to lead paint, loose
magnet hazards.

U.S. stocks erase gains to close lower on credit fears

4:03 pm ET Aug 13, 2007

DJIA

13,236

-3.01

S&P

1,452

-0.72

NASDAQ

2,542

-2.65

10Yr

4.78%

+0.002

U.S. stocks erase gains to close lower on credit fears

NEW YORK
U.S. stocks reversed early gains to end slightly lower Monday, as
investors weighed news that Goldman Sachs injected $3 billion in one of
its troubled hedge funds against worries over when the next
credit-related landmine might hit.

Economic Report: Trend of tighter mortgage standards continues: Fed

WASHINGTON
U.S. banks continued to tighten their standards for approving mortgage
loans in the spring and early summer months, the Federal Reserve said
Monday.

Funds tied to quant and hedge strategies take beating

SAN FRANCISCO
If you own shares of leading asset-managers, hold on. More volatility
could be in store as credit concerns shake out in the coming weeks.

The Stockpickers: Small-cap manager looks for entry-level growth

BOSTON
Running a portfolio that targets some of the market's smallest stocks
allows Nancy Prial to buy growth opportunities, often in overlooked
areas, and ride them before the rest of the market piles on.

Bonuses on Wall Street will be largely unaffected by turmoil

NEW YORK
Wall Street bonuses will see a modest impact from recent woes in the
market, according to a survey released Monday by Johnson Associates
Inc.

Midday Report: U.S. stocks higher as central bank moves take hold

11:46 am ET Aug 13, 2007

DJIA

13,326

+86.98

S&P

1,464

+11.28

NASDAQ

2,562

+17.93

10Yr

4.80%

+0.026

U.S. stocks higher as central bank moves take hold

NEW YORK
U.S. stocks gained Monday after Goldman Sachs Group Inc. reinforced one
troubled hedge fund with additional capital and central banks funneled
more cash into global financial systems, easing worries about a
worldwide credit squeeze.

Blackstone profit, revenue triples

NEW YORK
Blackstone Group L.P., lifted by strong gains in real estate, on Monday
said second quarter profit tripled on a pro forma basis.

China's inflation in July soars to decade-high 5.6%

HONG KONG
China's consumer price inflation in July soared to its highest level in
more than a decade, beating estimates by a big margin and strengthening
the possibility of another interest-rate hike by the country's central
bank.

Forums:

新聞評論：如何看中國的通脹？

中國的通脹對您的生活產生了哪些影響？如何看中國消費品價格大幅度上漲？
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Workers' pay raises won't be much in '08

08/13/2007

NEWS

U.S., N. Korea nuke envoys to meet
---------------------------------------------
U.S. and North Korean envoys were meeting in Beijing on Monday ahead of
six-
nation talks aimed at ending Pyongyang's nuclear programs.

Gunman kills pastor, 2 others at Mo. church
---------------------------------------------
A gunman opened fire in the sanctuary of a southwest Missouri church
Sunday,
killing three people and wounding several others, a city spokeswoman
said.

Rove to resign from White House
---------------------------------------------
Karl Rove, President Bush's close friend and chief political strategist,
plans to leave the White House at the end of August, joining a
lengthening line of
senior officials heading for the exits in the final 1 1/2 years of the
administration.

MONEY

Chinese maker of recalled toys kills self
---------------------------------------------
The head of a Chinese toy manufacturing company at the center of a huge
U.S. recall has committed suicide, a state-run newspaper said Monday.

Qwest picks former Williams-Sonoma chief as new CEO
---------------------------------------------
Qwest said late Sunday it has named former Williams-Sonoma CEO Edward
Mueller
to succeed retiring Chairman and CEO Richard Notebaert.

Workers' pay raises won't be much in '08
---------------------------------------------
Workers hoping for big raises next year are in for disappointment.
Employers will be holding the line on pay increases, following a trend
of reining in
compensation costs to stay competitive.

Top Bush Aide Karl Rove Resigns

Date: Mon, 13 Aug 2007 08:30:02 -0400
Top Bush Aide Karl Rove Resigns

Karl Rove, President Bush's chief political strategist, is planning to
leave the administration at the end of August. Rove was nicknamed "the
architect" by the president for designing the strategy that twice won
him the White House. 

Retail sales slightly above forecasts for July; up 0.3% overall, 0.4% excluding autos, Reuters reports.

Date: Mon, 13 Aug 2007 08:31:53 -0400

Retail sales slightly above forecasts for July; up 0.3% overall, 0.4%
excluding autos, Reuters reports.