Futures down slightly this morning and giving back some of yesterday’s gains. Yesterday’s strength came in part from blow-out same-store-sales from McD’s, which perhaps indicated consumer spending is still healthy.
Japan’s PM Abe resigned and the NKY
closed down 0.5%.
Very little corporate news today. Ericsson gave strong guidance for Q3. Texas Instruments lowered guidance. INTC raised guidance.
Oil at record levels as it trades at $78.16. Oil inventory at 10:30am.
10-year note yields 4.34%.
Rockbay News: MLCO neutral on IFX reducing QI stake, DBAB largest Link REIT shareholder – at 22% from 6% - replacing TCI, AA to sell stake in Chalco for $2.1B, DAI GY expects double digit gain in productivity for 2007, NHY NO merger with Statoil expected to complete October 1, DBAB cuts CBRY LN price target on uncertain margins,
Vito’s Advanced Trivia: The landscaper says, “I planted 5 rows of 4 trees each.” Bob says, “Ah, so 20 trees.” “No,” says the landscaper, “it was 10 trees total.” How is this possible?
Yesterday’s Answer: WTC’s scrap metal was sent to India and China.