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Hundreds, Most Likely Thousands
Sep 01, 10:07 PM ET |
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| Said mayor of Louisiana of the number of casualties, when asked how many people have died. |
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| The current official death toll reported for Mississippi is 126 and may reach substantially higher if mayor's prediction is correct. If that is the case this natuaral disaster may turn out to be the worst disaster since 1906 earthquake and fire in San Francisco. Nation's emergency repsonse system is painfully slow and African American leaders are blaming this may have to do with the economic and racial make up of the region. |
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Out of Gas
Sep 01, 1:34 PM ET |
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| Gold rose 4.2% on the back of declining U.S. dollar. Retail gas prices jumped over $3 per gallon as reports of shortages spread. |
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| Stocks are higher on hopes of slowdown in the interst-rate hike. ISM report showed a slower pace of growth of the manufacturing sector.Retailers Costco Wholesale Corp., Wet Seal Inc., J.C. Penney Co. Inc., Kohl's Corp. and Nordstrom Inc. posted strong results in August. Wal-Mart Stores Inc.'s sales slightly disappointed views. |
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Oil and Gas Turn Higher
Sep 01, 11:21 AM ET |
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| Oil hovers around $69 a barrel. Gasoline prices rose by more than 12 cents a gallon. |
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| Stocks trade lower on economic concerns.The consumer spending for July rose 1%. Personal incomes grew 0.3%. Retailers posted better-than-expected sales reports.Wal-Mart's sales increased by 3.3% for August.Indian markets finished at an all-time high, rising 0.9% on software stocks. |
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Economic Data to Guide the Opening
Sep 01, 9:10 AM ET |
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| Tokyo closed at a 4-year high, European markets advanced on M&A news, energy prices continue to climb, the dollar weakened. |
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| Futures dipped in the early going, pointing to a weak opening for stocks after the rally Wednesday as oil slid after the government said it would tap the oil reserve. The ISM business confidence survey for August will be in focus Thursday. Economists see the ISM up to 57.2 from 56.6. Top retailers report August sales results today. IBM has signed a global contract with ABN AMRO worth about 1.5 billion euro over 5 years. Novartis offered $4.5 billion to gain full control of Chiron. |
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