|
The Dow closed today slightly over 11,000 after another roller coaster override. According to Morgan Keegan co-director of equity strategy John Wilson, investors may be overacting to comments made by Fed chair Ben Bernanke.
He didn't say anything new. It's known that Bernanke is a...an inflation hawk. I believe him when he says that the Fed is going to be watching the indicators. That's gonna govern what they do and I think it's likely that we're gonna see a little bit of a slowdown, but at this point seeing nothing indicate a recession.
Wilson believes the Fed will not continue raising interest rates.
Nation's credit rating could soon be taking a dip. According to Standard & Poor's, unless the government takes measures to cut its fiscal deficit, the country's credit rating would fall from a triple A rating to a single A after 2015, and as low as the triple B category by 2020.
Are you superstitious? Well then you might find it disconcerting that on 6606(6/6/06), the rate for a thirty-year fixed rate mortgage is 6.66 percent. This year's hurricane season is underway, but many oil companies are just starting to recover from last season's storms.
Minerals' Management Service, the group tracking oil and gas activity in the gulf, finds production increased in the months following Hurricane Katrina. Now just over 15% of the normal production is still hampered by platform shutdowns, compared to 22% at the beginning of May. Higher oil and gasoline prices are linked to supply interruptions from last year's hurricane season.
CNN's Ed McCarthy.
Norway is dumping Wal-Mart. The country says that its 240 billion dollar oil fund will no longer invest in the world's biggest retailer, because of what it calls serious and systematic abuses of human and labor rights.
And there're some companies who are losing business because customers are worried about cyber security, says Cyber Security Industry Alliance's President Paul Kurtz.
There is a lot of angst among voters, among the general population about the security of the Internet.
Kurtz says half of those surveyed won't buy things online because of Internet security fears.
With CNN radio in the market place, I am Michelle Wright.
|