Breaking News Sat., May 31, 2008

Date: Sat, 31 May 2008 15:17:21 -0700

BARACK OBAMA RESIGNS HIS MEMBERSHIP WITH TRINITY UNITED CHURCH OF CHRIST
IN CHICAGO, WHERE JEREMIAH WRIGHT WAS FORMERLY PASTOR AND A CATHOLIC
PRIEST MOCKED HILLARY CLINTON

Breaking News

Date: Sat, 31 May 2008 19:14:04 -0400

A Democratic panel approves seating full Florida and Michigan
delegations, giving each delegate half a vote.

Markets Friday, 05/30/2008

Friday, 5/30/2008

| Dow : 12638.32 down 7.90

| S & P : 1400.38 up 2.12

| NASDAQ: 2522.66 up 14.34

| Bond (10Y): 4.06%, 98.53

MARKETS:
Stocks have mixed day, mixed month
Dell's earnings give a lift to the technology sector at the end of an
uneven month on Wall Street.

Nasdaq up 4.6% in May, 3.2% on week; Dow down 1.4% for month, up 1.2% on week

Date: Fri, 30 May 2008 16:50:43 -0400

Nasdaq up 4.6% in May, 3.2% on week; Dow down 1.4% for month, up 1.2% on
week
5/30/2008 4:47:25 PM

Stocks end mixed, with Dell's strong quarterly results leading techs higher. Blue chips gave up gains in the last minutes of trading.

Date: Fri, 30 May 2008 16:02:20 -0400

Stocks end mixed, with Dell's strong quarterly results leading techs
higher. Blue chips gave up gains in the last minutes of trading.

U.S. stocks climb for foutth day on Dell profits, low inflation

Date: Fri, 30 May 2008 12:03:28 -0400

U.S. stocks climb for foutth day on Dell profits, low inflation

NEW YORK
U.S. stocks start trading slightly higher, trying to extend gains into a
fourth-day straight, as personal computer giant Dell Inc. reported
profits that exceeded forecasts and the government said a key gauge of
inflation was temperate in April.

Economic Report: Consumer sentiment sinks as inflation worries grow:
survey

U.S. consumer sentiment drops to the lowest level in 28 years in May as
worries about inflation grow, according to the University of
Michigan/Reuters consumer sentiment index.

Economic Report: Inflation wipes out income gains in April

Inflation erases all the gains in disposable personal income in April,
while consumer spending is flat after adjusting for higher prices.

Futures Movers: Crude-oil futures regain some ground as traders eye
storms

Crude oil futures gain back some ground, with traders keen to boost
positions ahead of the weekend and before the official start of
hurricane season next week.

U.S. consumer sentiment sinks as inflation worries mount

Date: Fri, 30 May 2008 10:11:25 -0400

U.S. consumer sentiment sinks as inflation worries mount
5/30/2008 10:08:22 AM

Calpine calls NRG Energy proposal 'inadequate' but may be open to talks

Date: Fri, 30 May 2008 09:20:49 -0400

Calpine calls NRG Energy proposal 'inadequate' but may be open to talks
5/30/2008 9:17:27 AM

CEOs of United Airlines and US Airways tell employees no combination "at this time," AP reports.

Date: Fri, 30 May 2008 09:17:08 -0400

CEOs of United Airlines and US Airways tell employees no combination "at
this time," AP reports.

PC maker Dell reports first-quarter profit of 38 cents a share on revenue of $16.1 billion, topping analysts' estimates.

Date: Thu, 29 May 2008 16:05:19 -0400

PC maker Dell reports first-quarter profit of 38 cents a share on
revenue of $16.1 billion, topping analysts' estimates.

Hurricane high-risk areas losing residents

Date: Fri, 30 May 2008 06:04:03 -0500

NEWS

Moving day looms at FEMA trailer parks
---------------------------------------------
The Federal Emergency Management Agency wants to close its last six
trailer parks by Sunday, the first day of hurricane season.

Ex-Bush aide's criticisms stun a team built on loyalty
---------------------------------------------
Former press secretary Scott McClellan levels the harshest criticism to
date from a Bush insider in his memoir, What Happened: Inside the Bush
White House and Washington's Culture of Deception. He claims the
administration manipulated facts to "sell" the Iraq war. On Wednesday,
McClellan's sharp critique drew the wrath of administration officials,
past and present.

Investigators seek to wind up Olmert case quickly
---------------------------------------------
Investigators are speeding up their corruption probe of Prime Minister
Ehud Olmert in an effort to wind up a case that has upended the
country's politics, a Justice Ministry spokesman said Thursday.

MONEY
Yahoo CEO says company is not 'under siege'
---------------------------------------------
Yahoo CEO Jerry Yang rejected the image of his company as "under siege"
Wednesday, telling conference goers that executives are rallying to
streamline Yahoo's offerings and make it more relevant to consumers and
to advertisers.

Resignation of Mishkin leaves Fed board ranks thin
---------------------------------------------
Federal Reserve Gov. Frederic Mishkin said Wednesday that he would
resign from the central bank at the end of August to return to his
Columbia University teaching post.

Inflation wipes out consumers' income gains in April, U.S. data show

Date: Fri, 30 May 2008 08:35:07 -0400

Inflation wipes out consumers' income gains in April, U.S. data show
5/30/2008 8:31:51 AM

Breaking News Thu., May 29, 2008

Date: Thu, 29 May 2008 14:17:09 -0700 (PDT)

THE TEXAS SUPREME COURT HAS RULED THAT THE HUNDREDS OF CHILDREN TAKEN
FROM A POLYGAMIST SECT RANCH SHOULD RETURN TO THEIR PARENTS

Breaking News Thu., May 29, 2008

Date: Thu, 29 May 2008 16:13:01 -0700 (PDT)

ACTOR HARVEY KORMAN, THE EMMY-WINNING STAR OF 'THE CAROL BURNETT SHOW,'
HAS DIED AT THE UCLA MEDICAL CENTER AT THE AGE OF 81

U.S. stocks close higher for third day as oil falls

Date: Thu, 29 May 2008 17:04:34 -0400

U.S. stocks close higher for third day as oil falls

U.S. stocks climb for a third consecutive day, with financials leading
the surge, as MasterCard Inc. predicted robust revenue growth and Bear
Stearns Cos. shareholders approved a $2.2 billion buyout of the
investment bank.

Mortgages: Long-term, fixed-rate mortgages jump, ARMs hold steady

Longer-term, fixed-rate mortgages jumped this week to their highest
level in 11 weeks but shorter-term, adjustable loans held steady or
fell, according to Freddie Mac's weekly rate survey released Thursday.

Economic Report: First-quarter GDP revised higher as expected, to 0.9%
growth

The U.S. economy grows 0.9% in the first quarter, a sluggish pace
reflecting the biggest slump in housing in 26 years and the first
decline in final domestic sales in 17 years.

Overseas sales and bulk-buying trends fuel Costco's quarter

Costco, the largest U.S. warehouse retailer, posts third-quarter
earnings rise as international sales and bulk-shopping trends make it a
winner.

Special Report: Olympic visitors need not be too wary of exchanging
yuan

Visitors to the Olympics who are worried about changing their dollars
into yuan after hearing about China's tightly-controlled foreign
exchange system are likely to be pleasantly surprised.

Markets Thursday, 05/29/2008

Thursday, 5/29/2008

| Dow : 12646.22 up 52.19

| S & P : 1398.26 up 7.42

| NASDAQ: 2508.32 up 21.62

| Bond (10Y): 4.07%, 98.19

MARKETS:
Stocks rally as oil slumps
Wall Street gains as investors welcome an improved first-quarter GDP
reading, a stronger dollar and weaker crude prices. After the close,
Dell jumps.

U.S. stocks mildly higher after economic data

Date: Thu, 29 May 2008 12:03:33 -0400
U.S. stocks mildly higher after economic data

U.S. stocks tilt slightly higher from a tentative start after the
government raises its estimate of first-quarter economic growth and
reports a modest rise in weekly jobless claims.

Mortgages: Long-term, fixed-rate mortgages jump, ARMs hold steady

Longer-term, fixed-rate mortgages jumped this week to their highest
level in 11 weeks but shorter-term, adjustable loans held steady or
fell, according to Freddie Mac's weekly rate survey released Thursday.

Economic Report: First-quarter GDP revised higher as expected, to 0.9%
growth

The U.S. economy grows 0.9% in the first quarter, a sluggish pace
reflecting the biggest slump in housing in 26 years and the first
decline in final domestic sales in 17 years.

Overseas sales and bulk-buying trends fuel Costco's quarter

Costco, the largest U.S. warehouse retailer, posts third-quarter
earnings rise as international sales and bulk-shopping trends make it a
winner.

Special Report: Olympic visitors need not be too wary of exchanging
yuan

Visitors to the Olympics who are worried about changing their dollars
into yuan after hearing about China's tightly-controlled foreign
exchange system are likely to be pleasantly surprised.

Stocks tread water as a report shows U.S. economic activity grew, but remained sluggish, in the 1st quarter.

Date: Thu, 29 May 2008

09:33:03 -0400
Stocks tread water as a report shows U.S. economic activity grew, but
remained sluggish, in the 1st quarter.

10:28:03 -0400
Bear Stearns stockholders OK $10-a-share acquisiton by JPMorgan, marking
demise of storied firm brought down in credit crisis.

10:32:19 -0400
Oil prices spike more than $3 a barrel after government report shows
surprise drop in crude and gasoline supplies.

Inflation concerns rise as Dow Chemical signals 20% boost

Date: Thu, 29 May 2008 05:46:33 -0500

NEWS

Moving day looms at FEMA trailer parks
---------------------------------------------
The Federal Emergency Management Agency wants to close its last six
trailer parks by Sunday, the first day of hurricane season.

Ex-Bush aide's criticisms stun a team built on loyalty
---------------------------------------------
Former press secretary Scott McClellan levels the harshest criticism to
date from a Bush insider in his memoir, What Happened: Inside the Bush
White House and Washington's Culture of Deception. He claims the
administration manipulated facts to "sell" the Iraq war. On Wednesday,
McClellan's sharp critique drew the wrath of administration officials,
past and present.

Investigators seek to wind up Olmert case quickly
---------------------------------------------
Investigators are speeding up their corruption probe of Prime Minister
Ehud Olmert in an effort to wind up a case that has upended the
country's politics, a Justice Ministry spokesman said Thursday.

MONEY

Yahoo CEO says company is not 'under siege'
---------------------------------------------
Yahoo CEO Jerry Yang rejected the image of his company as "under siege"
Wednesday, telling conference goers that executives are rallying to
streamline Yahoo's offerings and make it more relevant to consumers and
to advertisers.

Resignation of Mishkin leaves Fed board ranks thin
---------------------------------------------
Federal Reserve Gov. Frederic Mishkin said Wednesday that he would
resign from the central bank at the end of August to return to his
Columbia University teaching post.

Inflation concerns rise as Dow Chemical signals 20% boost
---------------------------------------------
Dow Chemical's announcement Wednesday that it would raise prices as much
as 20% is just the most recent of a flurry of price hikes by major
companies, affecting everything from tissues to coffee to paint.

First-quarter U.S. gross domestic product growth revised higher to 0.9% rate

Date: Thu, 29 May 2008 08:34:14 -0400

First-quarter U.S. gross domestic product growth revised higher to 0.9%
rate
5/29/2008 8:31:05 AM

Markets Wednesday, 05/28/2008

Wednesday, 5/28/2008

| Dow : 12594.03 up 45.68

| S & P : 1390.84 up 5.49

| NASDAQ: 2486.70 up 5.46

| Bond (10Y): 4.00%, 98.84

MARKETS:
Stocks end higher
Wall Street shakes off the worst of the session's weakness to close with
gains, despite higher oil prices and more financial sector worries.

U.S. stocks cap a second volatile day with gains

Date: Wed, 28 May 2008 17:04:50 -0400
U.S. stocks cap a second volatile day with gains

U.S. stock indexes get their second straight day of gains, even after
shifting gears multiple times during the session, with economic data
helping investors overcome downbeat news in the financial sector.

Exxon Mobil shareholders vote against separate chairman/CEO roles

Exxon Mobil Corp. shareholders fall short of a majority of the votes
cast at the oil giant's annual meeting in pressing for the posts of
chairman and chief executive to be made separate.

Futures Movers: Oil reclaims $131 as traders weigh supply, demand
indications

Crude-oil futures find their footing, reclaiming the $130-a-barrel mark,
although to some observers the market appears vulnerable to further
selling.

Capitol Report: Politicians start to squirm over ethanol policy

NEW YORK
Think back to 2005 and the energy policy debates in Congress. Democrats
and Republicans both claimed the slogan of energy independence as the
mantra for a national energy policy.

UPS, DHL to sign multibillion-dollar services deal

Deutsche Post AG, in a virtual admission of failures in its DHL delivery
business, says that it will turn to rival and industry kingpin UPS to
bridge the weakest link in its delivery system.

U.S. stocks shift gears lower, led by financials

Date: Wed, 28 May 2008 12:03:13 -0400
U.S. stocks shift gears lower, led by financials

U.S. stocks on Wednesday start higher, extending gains into a second
day, as crude falls to a one-week low and April's orders for big-ticket
products show a milder-than-expected decline.

Futures Movers: Oil moves up, but struggles to hold ground at the $130
level

Crude-oil futures find their footing, reclaiming the $129-a-barrel mark,
although the market appears vulnerable to further selling.

Economic Report: Durable goods orders show resilience in April

New orders for U.S.-made durable goods fell not nearly as much as had
been anticipated in April, off 0.5%, as strength in electronics offset
an expected sharp drop in orders for airplanes and cars, Commerce
Department data show.

The Fed: U.S. economy steps back from abyss: Yellen

The Federal Reserve's frantic action since January to slash interest
rates and pour cash into financial markets has paid off, according to
San Francisco Fed President Janet Yellen.

2008 hopefuls focus on West

Date: Wed, 28 May 2008 06:03:21 -0500

NEWS

China tries to get people clear of flooding danger
---------------------------------------------
Chinese officials scrambled Tuesday to move nearly 160,000 people away
from a swollen mountain lake that could flood communities recovering
from a deadly earthquake.

2008 hopefuls focus on West
---------------------------------------------
Analysts on both sides have begun calculating the state-by-state
matchups between Obama and McCain.

Childhood lead exposure linked to adult crime
---------------------------------------------
In what may be the strongest link yet between lead exposure and crime
rates, researchers at the University of Cincinnati on Tuesday released
new evidence, spanning more than 20 years, that draws a direct
relationship between the amount of lead in a child's blood and the
likelihood he or she will commit crimes as an adult.

MONEY

Luxury vehicles dominate total quality survey
---------------------------------------------
Luxury brands once again dominated an annual U.S. automobile quality
survey taken this year by a California research company, but total
quality dropped for the first time in four years, the company said.

Child health care varies widely among states
---------------------------------------------
Only 46% of kids visit the doctor and dentist at least once a year in
Idaho, but 75% of Massachusetts children do. Infant mortality rates are
2.5 times higher in the District of Columbia than in Maine. And South
Carolina kids are 5.7 times as likely to wind up in the hospital for
asthma as those in Vermont.

U.S. orders for durable goods off milder-than-expected 0.5% in April

Date: Wed, 28 May 2008 08:34:45 -0400

U.S. orders for durable goods off milder-than-expected 0.5% in April
5/28/2008 8:31:44 AM

Stocks rise as Wall Street reacts to falling oil prices and a government report showing falling big-ticket orders.

Date: Wed, 28 May 2008 09:32:20 -0400

Stocks rise as Wall Street reacts to falling oil prices and a government
report showing falling big-ticket orders.

U.S. stocks close with gains after oil slides

Date: Tue, 27 May 2008 17:04:43 -0400
U.S. stocks close with gains after oil slides

U.S. stocks tilt tentatively higher, shifting course from the market's
worst weekly drop since February, as crude-oil futures fall to more
two-week lows, offsetting mostly bleak data on housing prices and
consumer confidence.

Crude oil closes below $130 after last week's rally

Crude-oil futures fall below $130 a barrel for the first time in nearly
a week, with the market ignoring fresh threats to oil supply as traders
lock in gains from an almost 5% rise in prices last week.

Economic Report: U.S. May consumer confidence at 16-year low

WASHINGTON
U.S. consumer confidence extended its tumble in May to reach a
16-year-low, the Conference Board reported Tuesday, as inflation
expectations reached a record high on rising gas prices.

Economic Report: Home price declines accelerate in March

Home prices in 20 major U.S. metropolitan areas have dropped a record
14.4% in the past year, Case-Shiller index data compiled by Standard &
Poor's show.

Yahoo's coming election battle: A focus on credibility

In this summer's proxy battle for control of Yahoo Inc., analysts say
the big salvos will likely focus on one central question: Did the board
of the Internet company fumble the broken-down merger talks with
Microsoft Corp.?

Markets Tuesday, 05/27/2008

Tuesday, 5/27/2008

| Dow : 12548.35 up 68.72

| S & P : 1385.35 up 9.42

| NASDAQ: 2481.24 up 36.57

| Bond (10Y): 3.92%, 99.81

MARKETS:
Stocks jump as oil slides
Wall Street gains in a choppy session as investors welcome falling crude
oil prices and a stronger dollar.

Breaking News Tue., May 27, 2008

Date: Tue, 27 May 2008 13:51:48 -0700 (PDT)

GAS PRICES RISE 15 CENTS IN ONE WEEK; THE NATIONAL AVERAGE FOR A GALLON
OF REGULAR UNLEADED NOW AT A RECORD $3.94, ACCORDING TO THE DEPARTMENT
OF ENERGY

U.S. stocks finish higher as oil prices retreat; Nasdaq up 1.5%

Date: Tue, 27 May 2008 16:06:17 -0400

U.S. stocks finish higher as oil prices retreat; Nasdaq up 1.5%
5/27/2008 4:03:20 PM

Oil prices tank, settling $3.34 lower to $128.85, as dollar rises -- first time crude ends below $130 in a week.

Date: Tue, 27 May 2008 15:07:03 -0400

Oil prices tank, settling $3.34 lower to $128.85, as dollar rises --
first time crude ends below $130 in a week.

Home price declines accelerate in March

Date: Tue, 27 May 2008 12:03:16 -0400
Home price declines accelerate in March

Home prices in 20 major U.S. metropolitan areas have dropped a record
14.4% in the past year, Case-Shiller index data compiled by Standard &
Poor's show.

Vodafone records $13.2 billion profit as CEO Sarin to exit post

Vodafone Group's CEO Arun Sarin is stepping down after five years, going
out on a high note as the wireless giant generates a company-record
profit of more than $13 billion for the most recent fiscal year.

Telecom Report: AT&T, Verizon bet they'll catch Sprint in 4-G wireless
race

"My network's better than your network." So goes the playground-like
argument that's raging in the telecom industry's fierce competition for
customers in "fourth-generation" wireless service.

Blackstone, Apollo Management may deal for Chemtura: report

A pair of private-equity firms are reportedly in the early stages of
arranging financing to acquire Chemtura Corp. Shares of the
specialty-chemicals company rally ahead of the opening bell.

U.S. consumer-confidence gauge registers 16-year low

Date: Tue, 27 May 2008 10:07:06 -0400

U.S. consumer-confidence gauge registers 16-year low
5/27/2008 10:02:10 AM

Crude-oil futures retreat 1.6% to $130-a-barrel mark; stocks edge upward

Date: Tue, 27 May 2008 09:40:33 -0400

Crude-oil futures retreat 1.6% to $130-a-barrel mark; stocks edge
upward
5/27/2008 9:37:18 AM

U.S. home prices down 14.4% in past year: Case-Shiller data

Date: Tue, 27 May 2008 09:05:47 -0400

U.S. home prices down 14.4% in past year: Case-Shiller data
5/27/2008 9:02:56 AM

China works to contain flood threat; death toll hits 67,000

Date: Tue, 27 May 2008 06:08:33 -0500

NEWS

China works to contain flood threat; death toll hits 67,000
---------------------------------------------
Chinese officials rushed Tuesday to evacuate another 80,000 people in
the path of potential floodwaters building up behind a quake-spawned
dam, state media reported, as soldiers scraped a channel to try to drain
away the threat.

Official: Calif. gay weddings a go for some as of June 14
---------------------------------------------
Same-sex couples in some California counties will be able to marry as
soon as June 14, the president of the California's county clerks
association said.

U.S. businessman says he gave cash to Olmert
---------------------------------------------
The key figure in a corruption case that threatens to topple Prime
Minister Ehud Olmert made a dramatic courtroom appearance Tuesday,
telling prosecutors how he handed cash-stuffed envelopes to the Israeli
leader and speculating that some of the money went to fund Olmert's
fondness for fine hotels, first-class flights and luxury goods.

MONEY

Skipped dues crunch home associations
---------------------------------------------
A modest housing tract, set amid pecan trees here in suburban Phoenix,
faces big problems: About 40% of its homeowners aren't paying their
association fees, leaving neighbors with higher assessments and reduced
services.

Markets Monday, 05/26/2008

Monday, 5/26/2008

| Dow : 12479.63 down 145.99

| S & P : 1375.93 down 18.42

| NASDAQ: 2444.67 down 19.91

| Bond (10Y): 3.87%, 99.97

MARKETS:
Stocks tumble on day, week
Wall Street suffers as higher oil prices and another weak housing market
report give investors a reason to retreat ahead of the three-day holiday
weekend.

Defensive posture taken in Europe with U.S., U.K. shut

Date: Mon, 26 May 2008 17:04:24 -0400
Defensive posture taken in Europe with U.S., U.K. shut

Traders in Europe are in a defensive posture on Monday in a light-volume
holiday session, with investors opting for telecommunications firms and
utilities at the expense of banks and automakers.

Weekend Edition: Bank failures to surge as credit crunch slows economy

Only three banks have failed so far in 2008. But that number is set to
surge as the credit crunch slows economic growth and hammers some
lenders that grew too fast during the recent real-estate boom, experts
say.

Telecom Report: AT&T, Verizon bet they'll catch Sprint in 4-G wireless
race

"My network's better than your network." So goes the playground-like
argument that's raging in the telecom industry's fierce competition for
customers in "fourth-generation" wireless service.

Dow's transport index rise defies historical trends

NEW YORK
A top performance so far this year by the Dow Jones Transportation
Average index, long considered a precursor to market turnarounds, should
spell recovery for the broader market.

Market Snapshot: U.S. stocks look for holiday from inflationary
reminders

Stocks could use a holiday during the coming Memorial Day-shortened week
from the escalating energy prices and inflationary data that have dogged
the equities market, fueling persistent worries about the ailing U.S.
economy.

Defensive posture taken in Europe with U.S., U.K. shut

Date: Mon, 26 May 2008 12:03:31 -0400

Defensive posture taken in Europe with U.S., U.K. shut

Traders in Europe are in a defensive posture on Monday in a light-volume
holiday session, with investors opting for telecommunications firms and
utilities at the expense of banks and automakers.

Weekend Edition: Bank failures to surge as credit crunch slows economy

Only three banks have failed so far in 2008. But that number is set to
surge as the credit crunch slows economic growth and hammers some
lenders that grew too fast during the recent real-estate boom, experts
say.

Telecom Report: AT&T, Verizon bet they'll catch Sprint in 4-G wireless
race

"My network's better than your network." So goes the playground-like
argument that's raging in the telecom industry's fierce competition for
customers in "fourth-generation" wireless service.

Dow's transport index rise defies historical trends

NEW YORK
A top performance so far this year by the Dow Jones Transportation
Average index, long considered a precursor to market turnarounds, should
spell recovery for the broader market.

Market Snapshot: U.S. stocks look for holiday from inflationary
reminders

Stocks could use a holiday during the coming Memorial Day-shortened week
from the escalating energy prices and inflationary data that have dogged
the equities market, fueling persistent worries about the ailing U.S.
economy.