Texas Pounded By Hurricane Ike

Date: Sat, 13 Sep 2008 16:00:02 -0400
Texas Pounded By Hurricane Ike

Millions Are Without Power After Storm Slams Galveston, Houston With
Torrential Rains And Winds

Lehman Brothers shares fall again on sale speculation

Date: Fri, 12 Sep 2008 17:03:48 -0400
Lehman Brothers shares fall again on sale speculation

Shares of Lehman Brothers fall amid swirling rumors that the embattled
Wall Street icon will sell itself over the weekend.

Market Snapshot: U.S. stocks close slightly higher on the week

U.S. stocks finish virtually flat after a two-day winning streak, as an
unexpected drop in retail sales and high anxiety over the fate of
investment bank Lehman Brothers Holdings Inc. weigh on investor
sentiment.

Hurricane Ike storms toward Texas coast

The National Weather Service issues a dire warning Friday for some
residents along the Texas coastline, as massive Hurricane Ike picks up
some strength on its track to become a major hurricane.

Economic Report: Retail sales fall on plunging gas prices

U.S. retail sales unexpected fall in August, pushed lower by plunging
gasoline prices, the Commerce Department says.

Lehman Brothers shares fall again on sale speculation

Date: Fri, 12 Sep 2008 17:03:48 -0400
Lehman Brothers shares fall again on sale speculation

Shares of Lehman Brothers fall amid swirling rumors that the embattled
Wall Street icon will sell itself over the weekend.

Market Snapshot: U.S. stocks close slightly higher on the week

U.S. stocks finish virtually flat after a two-day winning streak, as an
unexpected drop in retail sales and high anxiety over the fate of
investment bank Lehman Brothers Holdings Inc. weigh on investor
sentiment.

Hurricane Ike storms toward Texas coast

The National Weather Service issues a dire warning Friday for some
residents along the Texas coastline, as massive Hurricane Ike picks up
some strength on its track to become a major hurricane.

Economic Report: Retail sales fall on plunging gas prices

U.S. retail sales unexpected fall in August, pushed lower by plunging
gasoline prices, the Commerce Department says.

Nasdaq, S&P eke out Friday gains; AIG, off 30%, keeps Dow in red

Date: Fri, 12 Sep 2008 16:06:56 -0400

Nasdaq, S&P eke out Friday gains; AIG, off 30%, keeps Dow in red
9/12/2008 4:03:53 PM

Experts: Flee Ike Or "Face Certain Death"

Date: Fri, 12 Sep 2008 11:30:02 -0400

Experts: Flee Ike Or "Face Certain Death"
Galveston Evacuates But Houston Opts To Stare Down Massive Hurricane;
Ship With 22 Aboard Stranded In Gulf

Midday Report: Retail sales fall on plunging gas prices

Date: Fri, 12 Sep 2008 12:02:46 -0400
Retail sales fall on plunging gas prices

U.S. retail sales unexpected fall in August, pushed lower by plunging
gasoline prices, the Commerce Department says. .

Lehman for sale in rush to try to salvage struggling firm

Lehman Brothers is reportedly for sale as the brokerage firm tries to
avoid potential downgrades that could trigger a damaging exodus of
clients and trading partners and threaten future profits.

WaMu says it's 'well capitalized', Fitch cuts ratings

Washington Mutual Inc. late Thursday provided an update on its financial
health, saying that its provision for loan losses in the third quarter
will fall from the prior period though it remains "well capitalized" and
its retail deposit balances have remained relatively stable.

Hurricane Ike storms toward Texas coast

The National Weather Service issues a dire warning Friday for some
residents along the Texas coastline, as massive Hurricane Ike picks up
some strength on its track to become a major hurricane.

U.S. consumer sentiment jumps in September: Univ. of Mich.

Date: Fri, 12 Sep 2008 10:07:45 -0400

U.S. consumer sentiment jumps in September: Univ. of Mich.
9/12/2008 10:03:58 AM

Breaking News Thu., September 11, 2008

Date: Thu, 11 Sep 2008 14:13:37 -0700

EXCLUSIVE: GOV. SARAH PALIN WARNS WAR MAY BE NECESSARY IF RUSSIA INVADES
ANOTHER COUNTRY

August wholesale inflation in biggest drop in nearly 2 years; retail sales in surprise decline.

Date: Fri, 12 Sep 2008 08:33:03 -0400

August wholesale inflation in biggest drop in nearly 2 years; retail
sales in surprise decline.

Dow industrials fall by triple digits early Friday as financials slump further

Date: Fri, 12 Sep 2008 09:42:11 -0400

Dow industrials fall by triple digits early Friday as financials slump
further
9/12/2008 9:38:26 AM

Lehman's shares down in the pre-market, falling 12% to $3.70

Date: Fri, 12 Sep 2008 08:53:22 -0400

Lehman's shares down in the pre-market, falling 12% to $3.70
9/12/2008 8:50:17 AM

U.S. stocks rally higher in final moments of trade

Date: Thu, 11 Sep 2008 17:03:29 -0400
U.S. stocks rally higher in final moments of trade

U.S. stocks step decisively higher after a decline in oil prices sparks
a rally among transport and refinery companies, helping reverse a plunge
that comes as Wall Street questions the viability of brokerage Lehman
Brothers Holdings Inc.

The Fed: Financial stability will take a while, Fed's Kohn says

Transforming the impaired financial markets into a "safer, more
resilient financial system is going to take a while," Federal Reserve
Vice Chairman Donald Kohn says.

The Ratings Game: Analysts hit Lehman when it's down

Shares of Lehman Brothers plunge after analysts gave a thumbs-down to
the troubled investment bank's attempts to climb out of its current
plight.

Resurfaced story raises questions on Google technology

It has long been the popular term for lightning-speed Web searches. But
could "Google" eventually come to mean stumbling accidentally and
disastrously onto misleading reports and information?

U.S., NYC mark anniversary of 9/11

Thursday, September 11, 2008

The nation paused Thursday to mark the seventh anniversary of the Sept.
11 terrorist attacks with a heartfelt ceremony at ground zero and other
solemn remembrances around the country.

CORRECT: U.S. stocks lower as financials suffer

Date: Thu, 11 Sep 2008 12:02:54 -0400
CORRECT: U.S. stocks lower as financials suffer

U.S. stocks declined on Thursday as Wall Street's financial crisis
turned into a death watch for some of its biggest firms, with shares of
Lehman Brothers Holdings, Merrill Lynch and Washington Mutual diving
lower.

Futures Movers: Oil futures fall toward $100 as traders eye storm,
dollar

Crude-oil futures fall, edging closer to the key $100-per-barrel level
as market participants watch the path of Hurricane Ike, which headed for
the Gulf of Mexico, as well as movements in the U.S. dollar.

Economic Report: July trade deficit widens on surge in oil imports

The U.S. trade deficit widens more than expected in July, boosted by the
largest volume of imported oil in four years, Commerce Department data
show.

Currencies: Falling oil, euro-zone gloom boost dollar

A gloomy outlook for the euro-zone economy continues to cast a shadow
over the euro Thursday, allowing the U.S. dollar to extend gains after
nearing a one-year high against the single currency overnight, analysts
say.

America Bows Its Head For Sept. 11 Victims

Date: Thu, 11 Sep 2008 11:30:03 -0400

America Bows Its Head For Sept. 11 Victims

7th Anniversary Of Terrorist Attacks On New York And Washington Marked
By Familiar Rituals

Benchmark 30-year U.S. mortgage rate under 6% for first time since May

Date: Thu, 11 Sep 2008 10:52:03 -0400

Benchmark 30-year U.S. mortgage rate under 6% for first time since May
9/11/2008 10:48:44 AM

U.S. trade gap surged to $62.2 billion in July, well above estimates, amid record oil prices.

Date: Thu, 11 Sep 2008 08:36:04 -0400

U.S. trade gap surged to $62.2 billion in July, well above estimates,
amid record oil prices.

Stocks open sharply lower after reports show wider trade deficit and drop in unemployment claims. Lehman extends decline.

Date: Thu, 11 Sep 2008 09:31:04 -0400

Stocks open sharply lower after reports show wider trade deficit and
drop in unemployment claims. Lehman extends decline.

Markets Wednesday, 09/10/2008

Wednesday, 9/10/2008

| Dow : 11268.92 up 38.19

| S & P : 1232.04 up 7.53

| NASDAQ: 2228.70 up 18.89

| Bond (10Y): 3.63%, 103.03

MARKETS:
Stocks manage a modest gain
Investors work through Lehman's announcement of a steep quarterly loss,
getting a boost from some upbeat earnings forecasts and the dollar's
advance.

U.S. stocks end mildly up as financials curb gains

Date: Wed, 10 Sep 2008 17:04:15 -0400
U.S. stocks end mildly up as financials curb gains

U.S. stocks bounce higher as investors find value in recently battered
energy shares and Texas Instruments' affirmation of its third-quarter
outlook helps lift the technology sector.

Companies paying up to issue more debt

NEW YORK
Companies are likely to flood the bond market with debt sales this
month, even as the credit market crisis keeps the cost of borrowing at
record highs.

Lehman sale more likely; Moody's says it will cut without a deal

An acquisition of Lehman Brothers may be more likely in the wake of the
brokerage firm's latest quarterly loss and steps it is taking to sell
assets, according to some analysts.

U.S. delays $40 billion airborne-tanker competition

The Pentagon puts off a controversial competition to supply airborne
tankers for the military, leaving it for the next president to decide
whether the contractor will be Boeing or Northrop Grumman.

Research In Motion launches new BlackBerry flip phone

Research In Motion announces a new flip version of its popular
BlackBerry smart phone in a move to broaden the appeal of the device to
consumers still attached to their standard cell phones.

Oil settles at five-month low at $102.58, down 68 cents, on continued focus on weak demand.

Date: Wed, 10 Sep 2008 14:50:07 -0400

Oil settles at five-month low at $102.58, down 68 cents, on continued
focus on weak demand.

U.S. stock indexes scale back early climb as Lehman cheer fades

Date: Wed, 10 Sep 2008 12:06:58 -0400
U.S. stock indexes scale back early climb as Lehman cheer fades

U.S. stock indexes scale back earlier gains as investors find only mild
solace from Lehman Brothers Holdings Inc.'s plan to shore up its
finances, and from chip maker Texas Instruments' affirmation of its
third-quarter outlook.

Lehman plans to jettison assets; quarterly loss hits $3.9 billion

Lehman says it lost $3.9 billion in the third quarter after taking a
gross mark-to-market loss of $7.8 billion. It plans to slash its
dividend, sell a majority stake in Neuberger Berman and spin off
commercial-real-estate assets.

U.S. cancels $35 billion tanker competition

The Pentagon cancels its $35 billion tanker competition, Northrop
Grumman said Wednesday.

Research In Motion launches new BlackBerry flip phone

Research In Motion announces a new flip version of its popular
BlackBerry smart phone in a move to broaden the appeal of the device to
consumers still attached to their standard cell phones.

Mortgage applications rose 9.5% last week: MBA

Mortgage applications filed last week increase a seasonally adjusted
9.5% compared with the week before, as mortgage interest rates decrease,
the Mortgage Bankers Association reported on Wednesday.

Government reports bigger-than-expected drop in oil and gas inventories. Oil prices churn, struggling to hold gains.

Date: Wed, 10 Sep 2008 10:40:10 -0400

Government reports bigger-than-expected drop in oil and gas inventories.
Oil prices churn, struggling to hold gains.

Stocks open higher as investors digest Lehman's whopping $3.9B loss and await the government's latest reading on oil inventories.

Date: Wed, 10 Sep 2008 09:32:08 -0400

Stocks open higher as investors digest Lehman's whopping $3.9B loss and
await the government's latest reading on oil inventories.

Lehman Brothers says it will announce its third-quarter results and 'key strategic initiatives' Wednesday at 7:30 a.m. ET.

Date: Tue, 9 Sep 2008 18:47:07 -0400

Lehman Brothers says it will announce its third-quarter results and 'key
strategic initiatives' Wednesday at 7:30 a.m. ET.

Market Briefing Newsletter for Tuesday, 09/9/2008

Tuesday, 9/9/2008

| Dow : 11230.73 down 280.01

| S & P : 1224.51 down 43.28

| NASDAQ: 2209.81 down 59.95

| Bond (10Y): 3.57%, 103.34

MARKETS:
Wall Street slides on Lehman fears
The Dow is down 280 points on talk that the brokerage won't be able to
raise capital Lehman shares, down 45%, hit a decade low. AIG & WaMu
dropped 20%.

U.S. stocks end sharply lower as Lehman feeds anxiety

Date: Tue, 09 Sep 2008 17:03:57 -0400
U.S. stocks end sharply lower as Lehman feeds anxiety

Losses deepen for U.S. stocks at midday, with equities failing to extend
the prior session's sharp gains tied to the federal rescue of mortgage
giants Fannie Mae and Freddie Mac.

Lehman tumbles on fears about raising capital, shedding assets

Lehman shares lose nearly half of their value Tuesday on concern about
the brokerage firm's plans to raise capital and sell assets.

Futures Movers: Oil closes 3% lower as storm concerns wane, OPEC talk
calms

Crude-oil futures fall nearly 3% to close at their lowest level since
April.

Apple takes wraps off refreshed iPod line

Apple takes the wraps off its latest versions of iPod portable music and
video players, cutting the prices on its iPod touch and launching a
redesigned iPod nano ahead of the holiday-shopping season.

The Ratings Game: Analysts divided on home-builder stocks after GSE
bombshell

Even though the government takeover of Fannie Mae and Freddie Mac is
seen easing mortgage rates and making homes more affordable in the short
term, there is still little consensus on Wall Street over whether
housing stocks have bottomed.

Federal officials forecast "substantially higher" budget deficit - to rise $246 billion to $407 billion this year.

Date: Tue, 9 Sep 2008 09:39:04 -0400

Federal officials forecast "substantially higher" budget deficit - to
rise $246 billion to $407 billion this year.

Federal officials forecast "substantially higher" budget deficit - to rise $246 billion to $407 billion this year.

Date: Tue, 9 Sep 2008 09:39:04 -0400

Federal officials forecast "substantially higher" budget deficit - to
rise $246 billion to $407 billion this year.

=?UTF-8-STRICT?Q?Realtors=E2=80=99_group_says_pending_home_sales_f?= =?UTF-8-STRICT?Q?ell_3.2%_in_July_and_are_down_6.8%_from_last_year_=E2=80?= =?UTF-8-STRICT?Q?=93_the_latest_gloomy_housing_report.?=

Date: Tue, 9 Sep 2008 10:02:08 -0400

Realtors' group says pending home sales fell 3.2% in July and are down
6.8% from last year – the latest gloomy housing report.

Pending-home-sales index falls 3.2% in July

Date: Tue, 09 Sep 2008 12:03:05 -0400
Pending-home-sales index falls 3.2% in July

In a sign that the U.S. housing market may weaken in coming months, an
index of sales contracts on previously owned U.S. homes fell 3.2% in
July from the prior month, the National Association of Realtors reported
Tuesday.

The Ratings Game: Analysts divided on home-builder stocks after GSE
bombshell

Even though the government takeover of Fannie Mae and Freddie Mac is
seen easing mortgage rates and making homes more affordable in the short
term, there is still little consensus on Wall Street over whether
housing stocks have bottomed.

Market Snapshot: U.S. stocks shaky after pending home sales data

U.S. stocks churn as investors digest data on pending home sales and
wholesale trade, with equities failing to extend the prior session's
sharp gains tied to the federal rescue of mortgage giants Fannie Mae and
Freddie Mac.

Futures Movers: Crude falls more than 1%; no change expected in OPEC
output

Crude-oil futures trade more than 1% lower, playing off market
expectations that the OPEC oil cartel will elect to keep member nations'
production quotas unchanged.

Apple set to refresh iPod at 'Let's Rock' event

The secrecy surrounding just what Apple has up its sleeve will come to
an end Tuesday as the company hosts an event that's widely expected to
include the unveiling of revamped and cheaper iPods.

Markets Monday, 09/8/2008

Monday, 9/8/2008

| Dow : 11510.49 up 289.53

| S & P : 1267.79 up 25.48

| NASDAQ: 2269.76 up 13.88

| Bond (10Y): 3.67%, 102.69

MARKETS:
Stocks recharge in rescue rally
Dow surges 290 points as investors consider what the Fannie and Freddie
bailout means for the broader economy.

Bailout brings lower mortgage rates, but not housing rebound

Date: Mon, 08 Sep 2008 17:04:08 -0400
Bailout brings lower mortgage rates, but not housing rebound

Mortgage rates fell Monday on news of a Treasury-led bailout of mortgage
giants Fannie and Freddie Mac, but observers warned not to expect lower
borrowing costs to suddenly revive the troubled housing market.

Financial Stocks: Financial stocks post solid gains

Shares of U.S. financial stocks rally strongly, leading the broader
equities market higher, in reaction to the government's weekend move to
take control of mortgage giants Fannie Mae and Freddie Mac.

Lehman mulling plan to split in two: report

Lehman Brothers is reportedly considering a plan to rid itself of debt
tied to bad commercial mortgages by splitting itself into two
separately-listed companies.

FundWatch: J.C. Penney vote exposes rift in how funds see shareholder
rights

NEW YORK
A shareholder vote to re-elect the board of directors at J.C. Penney Co.
highlights the stark differences in how mutual fund managers approach
the issue of proxy voting.

LSE trading was halted for nearly seven hours

Connectivity problems with brokers led the London Stock Exchange to halt
trading for much of the day Monday, while rival exchanges benefited from
heavy trading volumes in the financial sector.

Crude settles 11 cents higher at $106.84 a barrel, as ongoing demand fears and a strong dollar counter Ike's production threat.

Date: Mon, 8 Sep 2008 14:56:03 -0400

Crude settles 11 cents higher at $106.84 a barrel, as ongoing demand
fears and a strong dollar counter Ike's production threat.

Wall Street rallies, with the Dow ending 293 points higher, as investors cheer government's Fannie and Freddie takeover.

Date: Mon, 8 Sep 2008 16:01:05 -0400

Wall Street rallies, with the Dow ending 293 points higher, as investors
cheer government's Fannie and Freddie takeover.

U.S. stocks surge on Fannie, Freddie bail-out

Date: Mon, 08 Sep 2008 12:03:08 -0400
U.S. stocks surge on Fannie, Freddie bail-out

U.S. stocks surge out of the starting gate, rallying after the
government's weekend seizure of mortgage giants Fannie Mae and Freddie
Mac.

Fannie, Freddie shares plunge, but bailout sparks rally

The government's takeover of Fannie Mae and Freddie Mac was necessary,
but it was "not something I wanted to do," Treasury chief Henry Paulson
says.

Financial Stocks: Financial stocks surge after Treasury steps in

Shares of U.S. financial stocks rally strongly, leading the broader
equities market higher, in reaction to the government's weekend move to
take control of mortgage giants Fannie Mae and Freddie Mac.

Lehman mulling plan to split in two: report

Lehman Brothers is reportedly considering a plan to rid itself of debt
tied to bad commercial mortgages by splitting itself into two
separately-listed companies.

LSE trading was halted for nearly seven hours

Connectivity problems with brokers led the London Stock Exchange to halt
trading for much of the day Monday, while rival exchanges benefited from
heavy trading volumes in the financial sector.

U.S. stock indexes jump at Monday open; Dow up 340; Fannie, Freddie lose 80% of value

Date: Mon, 08 Sep 2008 09:36:12 -0400

U.S. stock indexes jump at Monday open; Dow up 340; Fannie, Freddie lose
80% of value
9/8/2008 9:33:06 AM

Breaking News: U.S. to take over Fannie Mae, Freddie Mac

Date: Sun, 07 Sep 2008 10:38:39 -0500

WASHINGTON (AP) - The Bush administration, acting to avert the potential
for major financial turmoil, announced Sunday that the federal
government was taking control of mortgage giants Fannie Mae and Freddie
Mac.