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Archive for ‘June, 2008’

Most U.S. Stocks Fall as Banks Slump for 3rd Day

Most U.S. Stocks Fall as Banks Slump for 3rd Day

Michael Patterson of Bloomberg wrote an article showing our market conditions and how they are all showing losses due to mortgage crunch.  Some are feeling the pain for than others, but all still feeling the pain.  The beginning of the story goes as follows.
June 30 (Bloomberg) — Most U.S. stocks fell for a third day, [...]

H&R profits on sale of troubled mortgage arm

H&R profits on sale of troubled mortgage arm

There was a interesting article put together on CNNMoney.com speaking of H&R Block (parent of Option One Mortgage Corp) and there ability to turn the page from mortgage crisis.  The beginning of the story goes as follows.
Tax preparer’s fourth-quarter profit is boosted by strong tax season and sale of troubled mortgage arm
KANSAS CITY, Mo. (AP) [...]

Swapping non-real estate for real estate.

Swapping non-real estate for real estate.

Frank Nelson wrote an article for Los Angeles Times today about people thinking outside the box on getting ride of there homes and cars.  All of this is showing be how creative some are getting to either get in the market, or get out.  The beginning of the story goes as follows.
AS PEOPLE warm to [...]

Payrolls Probably Fell, Factories Slowed: U.S. Economy

Payrolls Probably Fell, Factories Slowed: U.S. Economy

Bob Willis has written a great article on Bloomberg about the employers reducing jobs and how the manufacturing has slowed down.  As you read through the story and notice that everything seems to be breaking down to gas prices.  You can view history of all this items and there past and present in my data [...]

KB Home sustains steeper loss on housing woes

KB Home sustains steeper loss on housing woes

John Spence of the MarketWatch.com wrote a article on the California housing market and how it’s not over yet.  Some would say the bottom of the cycle isn’t in site while others are just waiting to see what happens after the election.   The beginning of the market watch story is below.
BOSTON (MarketWatch) — Shares of [...]

North Korea Destroys Nuclear Tower

North Korea Destroys Nuclear Tower

The Associated Press wrote an article today on AOL.com about a step in the right direction for the United States and North Korea.  Some of us didn’t know if it would happen in our lifetime but I am pleased to see that we are getting somewhere.  The beginning of the story goes as follows.
YONGBYON, North [...]

Fed saved Bear to avert ‘contagion’

Fed saved Bear to avert ‘contagion’

Today I came across an article written by the Associated Press on CNNMoney.com speaking of how some of our banks our there will not be allowed to fail.  The Fed has taken action to try and put a parachute on our financial industry pushing for more stability.  The beginning of the story is below.          
According to [...]

U.S. Stocks Tumble on Earnings Concern; GM, Citigroup Retreat

U.S. Stocks Tumble on Earnings Concern; GM, Citigroup Retreat

Michael Patterson of Bloomberg news wrote a good article on some of the slumps in our market and how the companies are holding up because of it.  With all of this going on we are still watching oil on a strong rise.  The beginning of the story goes as follows.
June 26 (Bloomberg) — U.S. stocks [...]

Buffett vs. Bernanke: The inflation showdown

Buffett vs. Bernanke: The inflation showdown

Colin Barr a senior writer put an article together today on CNNMoney.com speaking of the issues of inflation.  The real question falls into whether you should believe the billionaire or our Fed chairman.  One thing is for certain though… this is affecting all of us and we need to be more proactive with how we [...]

Existing home sales rise on price drop

Existing home sales rise on price drop

Ben Rooney on CNNMoney.com wrote a surprising email on the real estate market and how it might be making a turn for the better.  For most of us it just might be the hope we were looking for.  The beginning of the story goes as follows.
Realtors’ group says the number of existing homes sold in [...]

Senate on track for housing rescue

Senate on track for housing rescue

Jeanne Sahadi a senior writer for CNNMoney.com put an article together today that I have been waiting a long time for.  This rescue plan and its details are a long time overdue in my opinion.  The beginning of the story goes as follows.
The debate over foreclosure prevention legislation is set to continue, but signs point [...]

Oil drops $3 on surprise supply gain

Oil drops $3 on surprise supply gain

A Staff writer for CNNMoney.com Kenneth Musante put an article together today speaking of the volatility in our crude oil and how its effecting our gas prices at the pump.  The beginning of the story is as follows.
Investors sell after report shows unexpected increase in crude stockpiles. Attention to focus on Fed rate decision.
NEW YORK [...]

Fed talking tough on the threat of inflation

Fed talking tough on the threat of inflation

Martin Crutsinger an AP Economics Writer has put a great article together on Yahoo today that speaks of the threats of inflation.  Everyone getting reminded of the 80’s and how to our rates went from the 7% range to 12% plus.  The beginning of the story goes as follows.
Fed likely to keep interest rates unchanged but employ tough talk about [...]

Obama Leads McCain by 15 Points as Voters Reject Republicans

Obama Leads McCain by 15 Points as Voters Reject Republicans

Heidi Przybyla wrote a great article for Bloomberg today in regards to the presidential race and how politics are playing there rolls.  The beginning of the story goes as follows.
June 25 (Bloomberg) — Democrat Barack Obama has opened a 15-point lead in the presidential race, and most of the political trends — voter enthusiasm, views [...]

On the path to a housing rebound

On the path to a housing rebound

A story by Shawn Tully was written today on CNNMoney.com about the housing market and how they believe there is light at the end of the tunnel.  The beginning of the story goes as follows.
The pain that homeowners and homebuilders are feeling now is a sign that things are going to get better.
NEW YORK (Fortune) [...]

Countrywide shareholders set to vote on BofA takeover

Countrywide shareholders set to vote on BofA takeover

Alex Viega of the associated press wrote an interesting article on aol news today.  The story is about one of the most important purchases of the banking industry today.  The beginning of the story goes as follows.
Countrywide shareholders set to vote on BofA takeover
LOS ANGELES (AP) – Bank of America  Corp.’s takeover of Countrywide Financial  [...]

Economy on brink of recession, Greenspan says

Economy on brink of recession, Greenspan says

An article on Yahoo.com read this morning about how more rate cut are very unlikely.  They also speak of the recession and how we are right on the edge with falling into one.  The beginning of the story goes as follows.
Economy on brink of recession, Greenspan says
JOHANNESBURG (Reuters) – Former Federal Reserve Chairman Alan Greenspan [...]

Consumer confidence tumbles to 16-year low

Consumer confidence tumbles to 16-year low

On CNNMoney.com today I noticed an article that Lara Moscrip wrote measuring the extreme drops in our consumer confidence.  I believe that everyone needs a better understanding with how we are affecting our own market.  The beginning of the story is as follows.
Conference Board’s measure is the fifth lowest ever as consumers fret jobs and [...]

Home prices post record 15.3% drop

Home prices post record 15.3% drop

Les Christie a writer for CNNMoney.com put some great words together today when she fashioned an article on the Home Prices and how we continue to break record lows.  The beginning of the story goes as follows.
The S&P/Case-Shiller 20-city Home Price Index has fallen for 21 straight months.
NEW YORK (CNNMoney.com) — U.S. home prices posted [...]

Card Issuers Get Personal to Check Credit

Card Issuers Get Personal to Check Credit

Robin Sidel wrote an article today on Wall Street Journal Online showing the gaps in how banks are deciding who will get credit and how it is affecting the daily lives of many.  The beginning of the story goes as follows.
When it comes to staying in good graces with your credit-card company, having an unsullied [...]

Home slump harder to reverse than usual

Home slump harder to reverse than usual

Lynn Adler wrote an interesting story today on Yahoo in regards to the housing market and the rebounding time that could be expected.  The beginning of the story is as follows.
Home slump harder to reverse than usual: Harvard
NEW YORK (Reuters) – Record foreclosures and limited access to credit will make it harder than usual for [...]

America’s untapped oil

America’s untapped oil

Steve Hargreaves of CNNMoney.com wrote a great article about the politics in oil and what is keeping the US gas where it is today.  The beginning of the story is as follows.
Lawmakers lay into big oil for leaving million of acres untouched while at the same time asking to drill in Alaska and off the [...]

Shareholders take brunt of banks’ capital raising

Shareholders take brunt of banks’ capital raising

On CNNMoney.com a writer from the associated press wrote an article today on banking and its effect on the shareholders.  The beginning of the story is below
Banks cutting dividends, diluting shares to raise badly needed capital
NEW YORK (Associated Press) – America’s banks and brokerages are scrambling to raise badly needed cash, but it may be [...]

Bracing for a roller-coaster recovery

Bracing for a roller-coaster recovery

Alexandra Twin a Senior writer for CNNMoney.com wrote a very realistic article today about the our market indicators and where they are heading.  Here is the beginning of the story below.
An economic rebound may be far in the distance, but stocks usually stabilize first. Here’s why the market should wobble in place in the second [...]

Bush says Democrats keep blocking his energy plans

Bush says Democrats keep blocking his energy plans

Deb Riechmann of the Associated Press wrote an interesting article today about how President Bush is working on a way to show the people how we can drill oil with minimal amount of damage to the Wildlife.  The beginning of the article is below
WASHINGTON – President Bush is accusing Democrats in Congress of blocking his [...]

In Housing, the Strong Turn Weak

In Housing, the Strong Turn Weak

Vikas Bajaj from the New York Times put a great article together about our realestate market and what is really going on.  Here is a short piece below…
America’s home-buying season, when for-sale signs sprout like dandelions, is shaping up to be even worse than expected this year, with prices falling, sales slowing and few signs [...]

US steel industry wins trade case against China

US steel industry wins trade case against China

Martin Crutsinger an AP economics writer wrote a great article today on US manufacturers and the struggle that our nation has with it.  A quick excerpt is below…
US manufacturers win victory that clears the way for penalty tariffs against Chinese pipe
WASHINGTON (AP) — U.S. steel pipe manufacturers, who have been battling a surge in imports [...]

U.S. Stocks Drop on Oil’s Surge, Concern Tech Demand Is Slowing

U.S. Stocks Drop on Oil’s Surge, Concern Tech Demand Is Slowing

Elizabeth Stanton at Bloomberg wrote an article today speaking about the problems in our stock market by oil increases.  The story goes as follows…
June 20 (Bloomberg) — U.S. stocks slid to a three-month low, led by consumer and technology companies, as threats of increased violence in the Middle East pushed oil prices higher and analysts [...]

WaMu Should Fire Killinger, Oust Board, Dreman Says

WaMu Should Fire Killinger, Oust Board, Dreman Says

Ari Levy at Bloomberg wrote an interesting article today about Washington Mutual and its subprime market trouble.  The beginning of the story goes as follows
June 20 (Bloomberg) — Washington Mutual Inc. should fire Chief Executive Officer Kerry Killinger and replace its board after an 85 percent stock-price plunge in the past year, said David Dreman, [...]

Leading indicators inch up, but weakness remains

Leading indicators inch up, but weakness remains

Thursday June 19, 11:01 am ET
Ap Business Writer
Leading economic indicators are barely higher as economy grows at a crawl
NEW YORK (AP) — A private business group says its index of leading economic indicators inched higher for the second month in another sign that higher fuel and food prices, tighter credit and a depressed [...]

Bush to Congress: Embrace energy exploration now

Bush to Congress: Embrace energy exploration now

By H. JOSEF HEBERT, Associated Press Writer
WASHINGTON – With gasoline topping $4 a gallon, President Bush urged Congress on Wednesday to lift its long-standing ban on offshore oil and gas drilling, saying the United States needs to increase its energy production. Democrats quickly rejected the idea.
“There is no excuse for delay,” the president said in [...]

Wholesale prices post biggest gain in 6 months

Wholesale prices post biggest gain in 6 months

Tuesday June 17, 11:18 am ET
By Jeannine Aversa, AP Economics Writer
Wholesale prices post biggest gain in 6 months, propelled by energy and food costs
WASHINGTON (AP) — Wholesale prices bolted ahead in May at the fastest pace in six months as energy and food costs marched higher.
The Labor Department reported Tuesday that its Producer Price Index, [...]

Stocks fall as data show drag of higher oil

Stocks fall as data show drag of higher oil

Tuesday June 17, 12:06 pm ET
By Madlen Read, AP Business Writer
Stocks decline as economic readings point to effects of rising energy prices on economy
NEW YORK (AP) — Stocks declined Tuesday as investors reviewed worrisome data that underscored the drag of higher energy prices on the economy.
In volatile trading, crude oil at times rose above $134 [...]

Builder Confidence Edges Down in June

Builder Confidence Edges Down in June

Monday June 16, 2:02 pm ET
WASHINGTON–(BUSINESS WIRE)–Builder confidence in the market for newly built single-family homes edged down in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index slipped to 18 this month, returning to the record low that was posted in December of 2007 (the series began [...]

Lehman loss matches forecast — $2.8 billion

Lehman loss matches forecast — $2.8 billion

Monday June 16, 9:43 am ET
By Dan Wilchins
NEW YORK (Reuters) – Investment bank Lehman Brothers Holdings Inc (NYSE:LEH – News) posted a quarterly loss of $2.8 billion on Monday, matching its forecast, after recording massive trading and hedging losses.
With the results coming in as expected, analysts focused on the potential for future write-downs at the [...]

Wall Street ends turbulent week with sharp gains

Wall Street ends turbulent week with sharp gains

Friday June 13, 6:00 pm ET
By Tim Paradis, AP Business Writer
Stocks rise sharply as data point to stable rates; inflation rises but doesn’t alarm investors
NEW YORK (AP) — Wall Street ended a turbulent week with a sharp gain Friday after government readings on inflation and a drop in oil prices eased worries about the effect [...]

US foreclosure filings surge 48 percent in May

US foreclosure filings surge 48 percent in May

Friday June 13, 1:49 pm ET
By Alan Zibel, AP Business Writer
Housing crisis worsens as number of US homes facing foreclosure in May up 48 percent
WASHINGTON (AP) — Soaring foreclosures are continuing to raise questions about the mortgage industry’s claims that they are making a dent in the housing crisis.
Foreclosure filings last month were up nearly [...]

Shadow Supply Of Real Estate May Push Back Housing Revival

Shadow Supply Of Real Estate May Push Back Housing Revival

Investor’s Business Daily
Thursday June 5, 7:00 pm ET
Joe Gose
Housing looks apt to get darker before a dawn, shadowed by unseen inventory.
Bank-owned homes typically don’t show up in headline figures, nor do ailing borrowers who are still in their homes or owners who want to sell but are waiting in hopes the market will improve. Yet [...]

Bernanke sees no repeat of `70s-style inflation

Bernanke sees no repeat of `70s-style inflation

Wednesday June 4, 3:23 pm ET
By Jeannine Aversa, AP Economics Writer
 

Bernanke doesn’t see repeat of `70s style spiraling prices, wages
WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke said Wednesday he does not believe the United States will experience the out-of-control prices seen with 1970s oil shocks.
His assessment came in a speech delivered [...]

Inflation moves up on Bernanke’s list of worries

Inflation moves up on Bernanke’s list of worries

Tuesday June 3, 7:44 pm ET
By Jeannine Aversa, AP Economics Writer
Inflation creeps up Bernanke’s list of worries, suggesting Fed’s rate cuts done for now
WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke has moved inflation up on his list of worries, suggesting more pointedly than ever that the time for cutting interest rates is [...]

Stocks slide on more concerns about financials

Stocks slide on more concerns about financials

Tuesday June 3, 5:42 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street grows more fearful that banks and brokerages still suffering from credit crisis
NEW YORK (AP) — Wall Street fell sharply for a second straight day Tuesday as investors grew more worried that the financial sector is still suffering badly from the [...]

Orange County: It’s not like what you see on TV

Orange County: It’s not like what you see on TV

The reality of a real-estate industry in the tank, job losses, foreclosed homes and empty office space is a far cry from the glitz and fantasy of popular TV shows set in the California county.
By Christopher Palmeri, BusinessWeek

The sun still sets magnificently on the cliffs of Laguna Beach. The Angels are slugging away on [...]

Bernanke signals more rate cuts unlikely

Bernanke signals more rate cuts unlikely

By Jeannine Aversa, AP Economics Writer
Bernanke signals rates probably will hold steady as Fed copes with risks to inflation
WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke signaled Tuesday that further interest rate cuts are unlikely because of concerns about inflation. High oil prices are a double-edged sword that can both put a damper on [...]

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