Wall Street Yawns at "Big 3" Meeting
Wall Street ended relatively flat today, without much compelling news to move the US stock markets at day’s end. The Dow closed down 30 points, the S&P 500 gained a point, and the Nasdaq closed up 12 to lead the pack.
In the bond market, the yield of the 10-year Note lost some ground today ,closing at 4.59%, while the 30-year Bond ended the day with a yield of 4.95%.
Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson, and Senator Christopher Dodd met today to discuss the economy. Afterwards, the Senator spoke to the media, stating that Chairman Bernanke is absolutely prepared to use all tools at his disposal to address the credit crisis.
Overseas, the Nikkei closed ahead 1.07%, while the Hang Seng ended its session with a gain of .62%.
Economic Data Scheduled for Wednesday, August 22, 2007
(All times in U.S. Central Time)
U.S.
9:30 AM: EIA Weekly Energy Stocks Report
Canada
None
European Union
4:00 AM: Industrial New Orders MoM (Consensus 2.0%)
Japan
None
