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Markets looking for direction
Based on this week’s economic data, investors appear to feel comfortable that the economy is growing moderately. The S&P500 gained just 5 points, the Dow gained 28 points and the NASDAQ was up by 28 points for the week ending October 12th, 2007.
Federal Reserve meeting minutes from September 18th confirmed a strong need to reduce rates because the credit crisis problem could negatively affect the economic growth. Investors are now betting that if the economic condition does not improve in the coming months, there could be another interest rate cut by the Feds. Let us see what happens next.
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3rd quarter earnings announcement
This month a lot of companies will announce their 3rd quarterly financial results. These quarterly reports show how well (or poorly) these companies did in the past quarter and how the future looks for them. It is like your report card.
This week Alcoa announced that its profits were below expectation. Alcoa closed at $38.13 (down $0.17) for the week ending October 12th, 2007. Pepsi came ahead of expectation and closed at $71.78. GE came in line with expectation and closed at $41.03 (down $0.50). Wal-Mart and McDonald’s provided positive outlook for the future. Wal-Mart closed at 47.06 (up $1.79) and McDonald’s closed at $57.02 (up $0.15).
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What, now lead in lipsticks?
The lead test results of L’Oreal, Cover Girl, and Christian Dior brand red lipsticks ranged from 0.21 ppm to 0.65 ppm. “ppm is parts per million to show the chemical concentration”. For the sake of comparison, Food and Drug Administration (FDA) limit for lead in candy is 0.1 ppm. FDA does not set a limit for Lipsticks. At least not yet.
FDA is looking at the claims that certain lipsticks contain dangerous levels of lead. The Campaign for Safe Cosmetics said that a third of the 33 red lipsticks examined by an independent lab contained a level of lead exceeding 0.1 ppm.
"Consumers are exposed daily to lead when they eat, drink water and breathe the air," said John Bailey, an executive vice president at the Cosmetic, Toiletry and Fragrance Association. "The average amount of lead a woman would be exposed to when using cosmetics is 1,000 times less than the amount she would get from eating, breathing, and drinking water that meets Environmental Protection Agency drinking water standards."
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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 Currency and Foreign Currency Exchange rate? Volume 14. What is stronger or weaker currency? Volume 20.
What is Economy, Business, Workers, Goods, Services, Stock, DOW, S&P500, and NASDAQ in Volume 16.
How does money grow in a bank? Volume 21.
How to read stock information? Volume 25.
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October 8-12, 2007
Weekly Stock Market
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Bulls Market-Stocks up!
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Index
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Change
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Last
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DOW
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Up 28
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14,093
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S&P500
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Up 5
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1,562
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NASDAQ
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Up 28
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2,806
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Foreign Exchange Rate
($1 is equal to)
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Currency
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Change
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Last
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Euro (€)
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0.00
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0.71
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Yen (¥)
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0.59
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117.54
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Pound (£)
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0.00
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0.49
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Yuan ( )
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0.01
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7.51
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Rupee (Rs.)
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-0.05
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39.18
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Canadian (C$)
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-0.01
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0.97
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Your Favorite Stocks
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Company
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Bought one stock in Jan-07
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This week stock is?
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Your gain or loss?
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$34.20
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$35.47
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$1.27
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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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$49.89
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$54.99
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$5.10
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$43.87
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$57.02
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$13.15
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We use multiple information resources, such as, websites, companies, stock exchanges, newspapers, and others.
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