Stock Indexes Fall as Credit Crunch Continues!
Bears feasted on bulls again this afternoon, as September S&P500 futures fell by 21.10 to close at 1434.00. European indexes were also in the red, with the September DAX 30 index falling 41.50 to close at 7463.00, and the September FTSE 100 shedding 84 points to close at 6161.50. Bond futures were moderately higher, with the September contract gaining 11/32 to close at 109-26.
Traders will focus on tomorrow’s release of July’s CPI, as analysts look for a moderate rise of 0.1%, with the “core” index expected to increase by 0.2%. In addition, energy traders are expecting a nearly 2 million barrel drop in U.S. Crude stocks last week in the Energy Information Administration’s weekly energy stocks report tomorrow at 9:30 AM Chicago time.
Economic Data Scheduled for Tuesday, August 15, 2007
(All times in U.S. Central Time)
U.S.
7:30 AM: July CPI (Consensus 0.1%, Core 0.2%)
8:15 AM: July Industrial Production (Consensus 0.3%)
8:15 AM: July Capacity Utilization (Consensus 87.1%)
9:30 AM: EIA Energy Stocks report
Canada
None
U.K.
3:30 AM: Bank of England minutes
European Union
None
Japan
None
