Markets Friday, 08/1/2008

Friday, 8/1/2008

| Dow : 11326.32 down 51.70

| S & P : 1260.31 down 7.07

| NASDAQ: 2310.96 down 14.59

| Bond (10Y): 3.93%, 99.50

MARKETS:
Wall Street wobbles into weekend
Stocks slump at the end of a volatile week after weak auto sales
reports, GM's huge loss and a 7th straight monthly decline in jobs.

U.S. stocks end week mixed on economic concerns

Date: Fri, 01 Aug 2008 17:04:07 -0400
U.S. stocks end week mixed on economic concerns

U.S. stocks fall on Friday as crude oil prices rise, fueling economic
worries after a report showed the unemployment rate ticked higher in
July and General Motors Corp. posted a huge quarterly loss.

Ford, GM slammed in July; Toyota also hit hard

SAN FRANCISCO
General Motors Corp., Ford Motor Co. and Chrysler LLC all handed in
double-digit July U.S. sales declines Friday that were worse than many
had feared, with another steep drop in truck and SUV sales casting an
even longer shadow across the rest of the year.

Futures Movers: Oil ends above $125, up 1.5% for the week on Iran
nuclear fears

Crude-oil futures finish higher with a gain of 1.5% for the week, as
fresh concerns over a possible Israeli strike on Iran and weakness in
the U.S. stock market prompt investors to lift oil prices to close above
$125 per barrel.

Economic Report: U.S. jobless rate jumps to four-year-high of 5.7%

Nonfarm payrolls drop for a seventh straight month in July while the
unemployment rate jumps to 5.7%, a four-year high, according to Labor
Department data.

Obama calls for revised, quicker stimulus

Sen. Barack Obama has proposed a revised, speeded-up version of his $50
billion economic stimulus plan, saying a tax on oil companies' profits
should be levied to fund rebates of up to $1,000 for families.

U.S. stock indexes slip Friday; Dow, S&P down on week; Nasdaq up fractionally

Date: Fri, 01 Aug 2008 16:13:51 -0400

U.S. stock indexes slip Friday; Dow, S&P down on week; Nasdaq up
fractionally
8/1/2008 4:10:41 PM

Stocks slink into the weekend, brought down by a struggling auto sector, a gloomy economy and rising oil prices.

Date: Fri, 1 Aug 2008 16:03:03 -0400

Stocks slink into the weekend, brought down by a struggling auto sector,
a gloomy economy and rising oil prices.

Oil settles at $125.10 a barrel, up $1.02, on comments by an Israeli official about Iran's nuclear program.

Date: Fri, 1 Aug 2008 14:58:03 -0400

Oil settles at $125.10 a barrel, up $1.02, on comments by an Israeli
official about Iran's nuclear program.

General Motors says July vehicle sales plunged 26% - far worse than expected.

Date: Fri, 1 Aug 2008 13:49:03 -0400

General Motors says July vehicle sales plunged 26% - far worse than
expected.

U.S. stocks fall after jobs report, GM loss

Date: Fri, 01 Aug 2008 12:03:06 -0400
U.S. stocks fall after jobs report, GM loss

U.S. stocks fall as crude oil prices rally past $127 a barrel, fueling
economic worries just after a report showed the unemployment rate ticked
higher in July and General Motors Corp. posted a huge quarterly loss.

Futures Movers: Oil rallies above $128 on Iran nuclear fears

Crude-oil futures rallied to trade above $128 a barrel on concern that
Iran's nuclear program may be more advanced that previously thought.

Economic Report: U.S. jobless rate jumps to four-year-high of 5.7%

Nonfarm payrolls drop for a seventh straight month in July while the
unemployment rate jumps to 5.7%, a four-year high, according to Labor
Department data.

NYSE Euronext shares dive after company misses analyst forecasts

Operator of the New York Stock Exchange and Euronext stock markets sees
shares tumble after lower-than-expected profit report.

General Motors swings to a massive second-quarter loss

General Motors reports another massive loss as customers' shift away
from its profitable truck and SUV lines gathered momentum during the
second quarter. Shares of the Dow Jones Industrial Average component
sell off initially, then stage a partial recovery.

General Motors' quarterly loss tops $15 billion as revenue sags 18%

Date: Fri, 01 Aug 2008 07:06:39 -0400

General Motors' quarterly loss tops $15 billion as revenue sags 18%
8/1/2008 7:03:46 AM

Oil prices spike higher, rising nearly $4 a barrel to above $128, after trading nearly $2 lower early in the day.

Date: Fri, 1 Aug 2008 10:13:03 -0400

Oil prices spike higher, rising nearly $4 a barrel to above $128, after
trading nearly $2 lower early in the day.

Government says economy shed 51,000 jobs in July - fewer than expected - but unemployment rate rose to 5.7% - highest in 4 years.

Date: Fri, 1 Aug 2008 08:33:03 -0400

Government says economy shed 51,000 jobs in July - fewer than expected -
but unemployment rate rose to 5.7% - highest in 4 years.

Stocks open higher after government reports the number of jobs lost in July were fewer than expected and investors shrug off GM.

Date: Fri, 1 Aug 2008 09:31:03 -0400

Stocks open higher after government reports the number of jobs lost in
July were fewer than expected and investors shrug off GM.

Markets Thursday, 07/31/2008

Thursday, 7/31/2008

| Dow : 11378.02 down 205.67

| S & P : 1267.38 down 16.88

| NASDAQ: 2325.55 down 4.17

| Bond (10Y): 3.95%, 99.38

MARKETS:
Stocks take a tumble
Signs that the economy remains weak make investors wary, with the Dow
losing more than 200 points.

U.S. stocks, hit by economic worries, end July on mixed note

Date: Thu, 31 Jul 2008 17:04:11 -0400
U.S. stocks, hit by economic worries, end July on mixed note

U.S. stocks close sharply lower, leaving the market with a mixed
performance for July, as economic concerns resurface following
weaker-than-expected growth numbers and a big jump in jobless claims.

Economic Report: GDP accelerates to 1.9% pace in 2nd quarter

Boosted by stimulus checks from Uncle Sam and big drop in imports, real
growth in the U.S. economy accelerated in the second quarter to a 1.9%
annual rate, the Commerce Department reports.

Exxon Mobil profit up 14% , but production disappoints

Exxon Mobil Corp. says higher oil prices drove profits up by $1.4
billion, but the world's largest oil corporation falls short of Wall
Street's earnings target for the second quarter in a row on higher
costs, lower refining and chemical margins and a 3% dip in adjusted
production.

Temasek's growing Merrill stake to trigger regulatory review

The latest investment by Singapore sovereign-wealth fund Temasek in
Merrill Lynch could lift its stake to more than 10%, triggering the need
for regulatory approval and reigniting debate about foreign ownership of
U.S. financial firms.

Economic Report: Commerce Dept. concedes U.S. economy contracted in
fourth quarter

The U.S. economy contracted in the fourth quarter of 2007, the first
quarter of negative growth since the 2001 recession, the Commerce
Department concedes.

The Dow sheds over 210 points and Nasdaq ends just below breakeven as investors fret over slowing economy.

Date: Thu, 31 Jul 2008 16:01:06 -0400

The Dow sheds over 210 points and Nasdaq ends just below breakeven as
investors fret over slowing economy.

Crude oil loses $15.92 a barrel in July, its biggest-ever monthly drop

Date: Thu, 31 Jul 2008 15:31:38 -0400

Crude oil loses $15.92 a barrel in July, its biggest-ever monthly drop
7/31/2008 3:28:49 PM

News Summary

Date: Thu, 31 Jul 2008 11:30:03 -0400

GOP's Image Of Obama Gains Traction

Politico: New McCain Ad Tries To Paint Democrat As A "Celebrity"
Candidate

Exxon Strikes Record-Setting $11B Profit

Computer Glitch Gums Up JFK Airport

U.S.

Tax Rebates Gave Economy Slight 2Q Boost

Gross Domestic Product Improved To 1.9 Percent Though Lower Than
Economists Had Hoped

Bush Rewrites Spy Laws

Congress Takes Aim At Pricey Colleges
America's Bridges Still Falling Down

World

Beijing Polishes Up On Olympic Etiquette

Politics

McCain Says He'd Work With Pelosi

Republican Also Says He Agrees With Former VP Gore's Goal On Energy
Independence

Obama Has Cash To Attack McCain's Base
Obama Ready "To Duel" McCain On Taxes

Royal Dutch Shell earns over $11 billion in second quarter as oil prices rise

Date: Thu, 31 Jul 2008 02:09:29 -0400

Royal Dutch Shell earns over $11 billion in second quarter as oil prices
rise
7/31/2008 2:06:22 AM

Exxon Mobil, nation's largest oil company, reports quarterly profit of $11.68 billion - largest in U.S. history.

Date: Thu, 31 Jul 2008 08:03:03 -0400

Exxon Mobil, nation's largest oil company, reports quarterly profit of
$11.68 billion - largest in U.S. history.

Exxon Mobil's profit jumps to record, up 14%, in spite of lower output

Date: Thu, 31 Jul 2008 08:25:44 -0400

Exxon Mobil's profit jumps to record, up 14%, in spite of lower output
7/31/2008 8:22:48 AM

U.S. generates economic growth at 1.9% rate in second quarter

Date: Thu, 31 Jul 2008 08:36:26 -0400

U.S. generates economic growth at 1.9% rate in second quarter
7/31/2008 8:33:21 AM

Stocks fall at open after weaker-than-expected reading on nation's economy and a surge in jobless claims.

Date: Thu, 31 Jul 2008 09:32:20 -0400

Stocks fall at open after weaker-than-expected reading on nation's
economy and a surge in jobless claims.

Markets Wednesday, 07/30/2008

Wednesday, 7/30/2008

| Dow : 11583.69 up 186.13

| S & P : 1284.26 up 21.06

| NASDAQ: 2329.72 up 10.10

| Bond (10Y): 4.05%, 98.59

MARKETS:
Choppy day on Wall Street ends in rally
Stocks soar to end the day as investors focus on positive economic news
instead of rising crude prices that had tempered early gains.

Wall Street given its deadline by the Fed

Date: Wed, 30 Jul 2008 17:04:05 -0400
Wall Street given its deadline by the Fed

Never mind that the loan balance between the Federal Reserve and Wall
Street has been $0 for four weeks, time is running out for the borrowers
to get their financial houses in order.

Futures Movers: Oil prices close over $4 higher as U.S. gasoline
supplies decline

Crude-oil futures edge higher, finding support from a second-weekly
decline in U.S. crude inventories as well as the first drop in gasoline
supplies in five weeks.

Earnings Outlook: GM investors gird for another big loss

General Motors Corp. will show just how bad the state of its business
has become on Friday when the struggling Detroit giant hands in what
many on Wall Street expect to be a massive second-quarter loss.

Economic Report: ADP shows 9,000 private-sector jobs added in July

U.S. private-sector employment rose by 9,000 in July, according to the
ADP employment index.

ADP shows 9,000 private-sector jobs added in July

Date: Wed, 30 Jul 2008 12:03:00 -0400
ADP shows 9,000 private-sector jobs added in July

U.S. private-sector employment rose by 9,000 in July, according to the
ADP employment index.

The Fed: Fed tweaks emergency lending operations

The Federal Reserve is adopting several steps designed to enhance its
emergency lending program for banks and primary dealers.

After Hours: Wyeth, Elan slide; MetLife shares drop after outlook cut

Elan Corp. and Wyeth shares drop sharply as investors take a closer look
at details about a clinical study of an Alzheimer's treatment, while
MetLife Inc. shares fall in the wake of the insurer's lowered yearly
outlook.

Lower fixed rates fail to draw more mortgage applicants: MBA

Applications filed for mortgages fall a seasonally adjusted 14.1% last
week compared to the prior week, as applicants shrug off lower interest
rates on fixed-rate loans, the Mortgage Bankers Association says.

Stocks open higher, boosted by a survey showing a surprise rise in private sector jobs and Fed's extension of emergency loan program.

Date: Wed, 30 Jul 2008 09:32:08 -0400

Stocks open higher, boosted by a survey showing a surprise rise in
private sector jobs and Fed's extension of emergency loan program.

Dow industrials surge 130 points as U.S. stocks extend rally to second day

Date: Wed, 30 Jul 2008 09:49:01 -0400

Dow industrials surge 130 points as U.S. stocks extend rally to second
day
7/30/2008 9:45:48 AM

Federal Reserve extends deadline for firms to borrow from discount window by 4-1/2 months to Jan. 30, 2009, AP reports.

Date: Wed, 30 Jul 2008 09:00:13 -0400

Federal Reserve extends deadline for firms to borrow from discount
window by 4-1/2 months to Jan. 30, 2009, AP reports.

President Bush signs sweeping bill to boost struggling housing market and bolster mortgage giants Fannie, Freddie.

Date: Wed, 30 Jul 2008 07:17:08 -0400

President Bush signs sweeping bill to boost struggling housing market
and bolster mortgage giants Fannie, Freddie.

Mortgage industry alliance Hope Now says it helped 181,000 troubled borrowers avoid foreclosure in June - 522,000 in second quarter.

Date: Wed, 30 Jul 2008 09:59:04 -0400

-- Mortgage industry alliance Hope Now says it helped 181,000 troubled
borrowers avoid foreclosure in June - 522,000 in second quarter.

Oil prices rebound after government reports surprise 3.5 million-barrel decline in gasoline supplies.

Date: Wed, 30 Jul 2008 10:38:03 -0400

Oil prices rebound after government reports surprise 3.5 million-barrel
decline in gasoline supplies.

Markets Tuesday, 07/29/2008

Tuesday, 7/29/2008

| Dow : 11397.56 up 266.48

| S & P : 1263.20 up 28.83

| NASDAQ: 2319.62 up 55.40

| Bond (10Y): 4.04%, 98.31

MARKETS:
Wall Street bounces back strongly
Stocks gain back prior session's losses, as investors welcome strong
financial results, consumer confidence boost, sinking oil and Merrill's
writedown.

U.S. stocks rally to the finish line on oil's slide

Date: Tue, 29 Jul 2008 17:04:16 -0400
U.S. stocks rally to the finish line on oil's slide

Stocks are buoyed as cheerier consumer confidence and lower crude prices
offered some respite to ongoing concerns about the economy.

Futures Movers: Crude futures shed over $2 to close near a three-month
low

Crude-oil futures close with a loss of more than $2 a barrel Tuesday, as
ongoing concerns over easing demand as well as strength in the dollar
push prices to their lowest level in nearly three months.

Merrill share-sale plan contradicts CEO's earlier statements

Analysts are praising Merrill Lynch's plans to raise capital and sell
troubled assets. But those plans could create a credibility crisis for
the firm's CEO.

Airlines reconsider the propeller as jet fuel prices soar

As regional airlines see fuel costs saor, they have been switching to a
fleet of propeller-driven turboprop planes for more efficiency.

Alaska senator indicted on criminal charges

Alaska Republican Ted Stevens is charged with improper disclosure of
gifts and services valued at more than $250,000 in business dealings in
his home state.

U.S. stocks bounce back as oil falls, consumer confidence rises

Date: Tue, 29 Jul 2008 12:03:11 -0400
U.S. stocks bounce back as oil falls, consumer confidence rises

U.S. stocks step solidly higher, rebounding from the prior session's
sharp drop, as consumer confidence rises and crude prices decline.

Economic Report: U.S. consumer confidence ticks up in July

Job concerns persist in July, the Conference Board reports, as U.S.
consumer confidence hangs at relatively low levels despite a tick up.

Economic Report: U.S. home prices down 15.8% in year through May, S&P
says

Home prices in 20 major U.S. cities have fallen a record 15.8% in the
past year, as prices as tracked by the Case-Shiller index drop across
the board, Standard & Poor's reports.

The Ratings Game: Analyst sees $8 bln Citi charge after Merrill sells
CDOs at loss

Merrill Lynch may have opened the floodgates for the next round of
credit write-downs, and one prominent analyst foresees additional
charges of about $8 billion on Citigroup's collateralized debt
obligations.

British Airways, Spain's Iberia enter into merger talks

British Airways and Spain's Iberia on Tuesday enter merger talks as the
airlines seek to slash costs to combat surging oil costs and placate
cash-strapped customers.

Oil sinks to lowest level in 2-plus months, falling over $4 to below $121/barrel, after surprise improvement in consumer confidence.

Date: Tue, 29 Jul 2008 10:44:02 -0400

Oil sinks to lowest level in 2-plus months, falling over $4 to below
$121/barrel, after surprise improvement in consumer confidence.

U.S. stocks bounce back, led by Nasdaq's 1.4% advance; Dow industrials up 110 points

Date: Tue, 29 Jul 2008 10:08:45 -0400

U.S. stocks bounce back, led by Nasdaq's 1.4% advance; Dow industrials
up 110 points
7/29/2008 10:04:36 AM

Key measure of consumer confidence shows a surprise increase in July, Dow Jones reports.

Date: Tue, 29 Jul 2008 10:03:03 -0400

Key measure of consumer confidence shows a surprise increase in July,
Dow Jones reports.

Stocks open higher as oil prices decline. Investors move beyond Merrill's writedown news, await a key report on consumer confidence.

Date: Tue, 29 Jul 2008 09:32:08 -0400

Stocks open higher as oil prices decline. Investors move beyond
Merrill's writedown news, await a key report on consumer confidence.

Home prices fell a record 15.8% year over year - the 22nd straight monthly decline - according to the S&P Case-Shiller 20-city index.

Date: Tue, 29 Jul 2008 09:02:08 -0400

Home prices fell a record 15.8% year over year - the 22nd straight
monthly decline - according to the S&P Case-Shiller 20-city index.

Markets Monday, 07/28/2008

Monday, 7/28/2008

| Dow : 11131.08 down 239.61

| S & P : 1234.37 down 23.39

| NASDAQ: 2264.22 down 46.31

| Bond (10Y): 4.00%, 98.84

MARKETS:
Stocks end in big retreat on credit fears
Dow loses 240 points as continuing bank troubles and prospects of
worsening economic conditions spook investors.

U.S. stocks close sharply lower; financials pave way

Date: Mon, 28 Jul 2008 17:04:27 -0400
U.S. stocks close sharply lower; financials pave way

U.S. stocks turn sharply lower, as investors lose conviction in the
market's ability to achieve any sense equilibrium. Rising oil prices and
select earnings reports, including a sharp drop for Tyson Foods, eclipse
cheer over a pending rescue plan for Fannie Mae and Freddie Mac.

Four big banks agree to kick-start covered bond market in U.S.

Appearing alongside Treasury Secretary Henry Paulson, representatives of
the four largest U.S. banks agree to kick-start a market for covered
bonds – an alternative way to provide mortgage loans – in the United
States.

Verizon earnings rise 12% on wireless strength

Verizon Communications Inc. posts a 12% gain in second-quarter earnings,
buoyed by robust wireless sales despite a weakening economy.

Toyota cuts full-year sales forecast

Toyota Motor Corp. warns that its full-year sales results are on pace to
fall short of previous targets as a brutal industry slump in the key
U.S. market has more than offset gains around the world.

KKR set to go public in merger with affiliate

Kohlberg Kravis Roberts & Co., which stunned Wall Street with the buyout
of RJR Nabisco in 1989, is about to go public, valuing the
private-equity firm at as much as $15 billion, the company said late
Sunday.

U.S. stocks fall as oil gains and financials hit again

Date: Mon, 28 Jul 2008 12:03:10 -0400
U.S. stocks fall as oil gains and financials hit again

NEW YORK
U.S. stocks on Monday were on the defensive as oil prices rose and with
earnings reports, including a sharp profit drop at Tyson Foods Inc.,
eclipsing cheer over a pending rescue plan for Fannie Mae and Freddie
Mac.

Verizon earnings rise 12% on wireless strength

Verizon Communications Inc. on Monday posts a 12% gain in second-quarter
earnings, buoyed by robust wireless sales despite a weakening economy.

Biotech Stocks: Amgen leads drug stocks up after progress on
osteoporosis drug

Amgen Inc. led drug stocks higher early Monday, as the biotech giant
gained on a report of progress with an osteoporosis drug candidate,
denosumab.

KKR set to go public in merger with affiliate

Kohlberg Kravis Roberts & Co., which stunned Wall Street with the buyout
of RJR Nabisco in 1989, is about to go public, valuing the
private-equity firm at as much as $15 billion, the company said late
Sunday.

Two more banks fail; Mutual of Omaha Bank buys deposits

Two more banks are shut down by federal regulators late Friday, bringing
to seven the number of bank failures so far this year.

Stocks open lower as investors focus on rising oil and digest results from Kraft and Verizon.

Date: Mon, 28 Jul 2008 09:36:03 -0400

Stocks open lower as investors focus on rising oil and digest results
from Kraft and Verizon.