Midday Report: U.S. stock indexes advance as data support upbeat tone

Date: Wed, 27 Aug 2008 12:03:08 -0400
U.S. stock indexes advance as data support upbeat tone

U.S. stocks climb as investors applaud a July rise in orders for U.S.
durable goods, with a spike in the price of crude viewed as a temporary
reaction to hurricane conditions in the Gulf of Mexico.

Economic Report: Durable goods orders rise surprising 1.3%

Signaling that some businesses have still been spending despite market
turmoil, government data show a surge of 1.3% in new orders for
U.S.-made durable goods during July.

The Fed: Worst of inflation will soon be behind us: Lockhart

The president of the Federal Reserve Bank of Atlanta comes down squarely
on the side of Fed chief Ben Bernanke, who has argued that inflationary
pressures should ease in coming months.

Weekly mortgage applications rise for first time in three weeks

Weekly mortgage applications rise for the first time in three weeks, the
Mortgage Bankers Association says Wednesday.

Clinton, Biden to take Democrats' stage Wednesday

Bill Clinton and Sen. Joe Biden are set to grab the spotlight at the
Democratic National Convention Wednesday evening, with eyes focused on
the former president to see if he matches the rousing endorsement given
by Sen. Hillary Clinton to Sen. Barack Obama and his running-mate Biden.