I’ll post the daily Stock Market Report and Stock Market Analysis after the close. Here’s some news…
FACTORY ORDERS (ABC News)
“Business orders for U.S. factory goods shot up by a
record amount in July, reflecting a surge in demand in the volatile category of
commercial aircraft. But outside of transportation, orders actually fell
slightly during the month although the setback was expected to be temporary.”
Story at…http://abcnews.go.com/Business/wireStory/us-factory-orders-record-105-percent-july-25228078
HOUSING CRISIS AS LENDING DRIES UP (CNBC)
“…long-term financing, like
the ubiquitous 30-year mortgage, that has come with fixed interest rates is
endangered as mortgage buyers dry up. “This
means there will be less money available to fund housing, and the terms of the
available funds will be considerably more onerous than what was available under
30-year, fixed-rate loans," [Dick] Bove said in a report he sent to
clients Tuesday. "This means higher monthly payments and lower housing
prices. It means a crisis in the mortgage markets—and the economy." Commentary
at…http://www.cnbc.com/id/101963571
EUROPEAN UNION DISCUSSING NEW SANCTIONS (Reuters)
European Union governments will decide on a package of
new sanctions against Russia by Friday, Italian Foreign Minister
Federica Mogherini told the European Parliament on Tuesday, calling for
"the strongest possible response." Story at...http://www.reuters.com/article/2014/09/02/us-eu-russia-sanctions-idUSKBN0GX0RH20140902
This is likely to hurt the world’s economy so it may be a drag on the US stock market.
