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Business fun facts!
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Did you know that there are over 500 people in the US who are worth more than one billion dollar?
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Americans drink over 50 gallons of soft drinks per year and buys over 800 gallons of gas per year.
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There are over 110 million households in the US. Two thirds of the households are families and one third are singles. The average household size is 2.6 people.
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Almost 70% of US oil consumption is produced in North America (US, Canada, and Mexico). The rest, 30% comes from Venezuela, Saudi Arabia and other countries.
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World oil production is over 80 million barrels per day. The highest oil consuming country is US which consumes 25% of world oil production. The second country is China at 8% and the third country is Japan at 7% of the world oil production. So if US economy is 4 times larger than China and 3 times larger than Japan, how does the oil consumption compare with respect to size of the economy?
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Six out of 10 teens consider learning about managing money their top priority.
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The median American household income is less than $50K a year. However, most of the teens think that they will be earning three times more than the current American household median income when they get a job!
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An average outstanding balance on college going kid credit card is over $2000!
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Markets slide
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The potpourri of news like, Fannie Mae (Ticker FNM) and Freddie Mac (Ticker FRE) may be on the verge of failure and may need help from the government, increasing prices, increasing jobless claims from 438 thousand to 446 thousand, and continued banking problems, sent stocks lower this week. Oil closed at $114.59 per barrel this week.
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The DOW closed down 32 points, or 0.3%, the S&P500 was down 6 points, or 0.5% and NASDAQ down 42 points, or 1.7%, for the week ending August 22nd. Year-To-Date (YTD) S&P500 is -12.0%, DOW is -12.7% and NASDAQ is -9.0%.
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On the positive note, Hewlett-Packard (HPQ) reported yet another solid earnings with positive business outlook, and some key retailers like, Home Depot (Ticker HD), Target (TGT), and Gap(GPS), reported relatively good results.
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Schools open!
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This is school opening season. Have fun learning, use money wisely, and save for the rainy day. Above all remember the importance of good credit…read our following popular articles. Good luck!
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What is Credit History? Why is it important to have a good credit history? Volume 12.
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How does money grow in a bank? Volume 21.
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What does the interest rate cut mean for you? What is APR? Volume 23.
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STARTING NEW SERIES!
What do want to be when you grow up?
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Based on the feedback, we are starting a short series where we will take some key professions and discuss what it takes to become one. For example, what does it take to become a investment banker, doctor, engineer, lawyer, teacher, programmer, stock trader, etc.
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Learn more about...
What is Credit History? Why is it important to have a good credit history? Volume 12.
What is Economy, Business, Workers, Goods, Services, Stock, DOW, S&P500, and NASDAQ in Volume 16.
Does it pay to study hard? Volume 17.
What is Currency and Foreign Currency Exchange rate? Volume 14. What is stronger or weaker currency? Volume 20. What does the dollar slide mean? Volume 32.
How does money grow in a bank? Volume 21.
What is Fed Funds rate and Discount rate? Volume 22
What does the interest rate cut mean for you? What is APR? Volume 23.
How to read stock information? Volume 25.
What is "Black Monday"...Crash of 87"? Volume 31.
Who are CEO, CFO, Shareholders, and the Board of Directors? What is SOX? Volume 33
What does "$4.95 + Tax" means? Volume 47.
What is a Recession? What is a Depression? Volume 48.
What is Mergers & Acquisition (M&A)? What is a Merger? Volume 49.
What is ADR? Volume 62.
What does buying back of shares means? Volume 63.
Why is consumer confidence so important? Volume 64.
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Aug 18-22, 2008
Weekly Stock Market
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Markets down!
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Index
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Change
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Last
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DOW
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Down 32
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11,628
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S&P500
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Down 6
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1,292
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NASDAQ
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Down 42
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2,415
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Foreign Exchange Rate
$1 is equal to
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Currency
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Change
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Last
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Euro (€)
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-0.00
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0.68
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Yen (¥)
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-0.37
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110.00
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Pound (£)
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0.00
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0.54
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Yuan ( )
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-0.03
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6.84
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Rupee (Rs.)
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0.65
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43.48
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Canadian (C$)
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-0.01
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1.05
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Your Favorite Stocks
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Company
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Bought one stock in Jan-08
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This week stock is?
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Your gain or loss?
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$31.84
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$32.20
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$0.36
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.jpg "Kellogg (Ticker is K) has over $11 billion in sales. It is know for ready-to-eat cereal and convenience foods.")
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$51.57
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$54.39
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$2.82
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$58.10
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$63.42
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$5.32
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Resources
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Teaching Kids Entrepreneurship
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We use multiple information resources, such as, websites, companies, stock exchanges, newspapers, text books, and others.
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