Monday, August 23, 2004

 

Energy prices finally go down...and take financial markets with them.


Oil prices finally dipped as production in Iraq resumed after several weeks of industrial sabotage. As a result, bond markets lost a bit, with the 10 year bond yields increasing 5 bps. Alan Greenspan delivers a speech later this week and several financial reports are due to be released.

The stock market also lost with the Dow closing down 37 points, while the NASDAQ edged up less the 1 point.

Week three of the unofficial classified jobs report.

Salt Lake City is down from last week at 1340 new jobs listed.
Richmond, VA is up with 96.
Davenport, IA is up barely to 154.
Winston-Salem is down slightly with 447.
Sacramento is also down with 1675.
Oklahoma City went down with 1410 new jobs listed.

This is not a good week with cities losing over 500 job listings. Will Thursday's unemployment report validate this theory? We'll see then.

This report brought to you by Top Colleges.

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