Oct

24

Weekly Economic & Investment Recap

October 24, 2008 | Leave a Comment

Good news all around, right?  The housing sector appears to be rebounding as existing home sales experienced its best showing in five years.  Apple, Amazon.com, Microsoft each announced better than expected quarterly earnings.  Leading economic indicators implied future domestic strength. China’s growth rate hit a whopping nine percent in the third quarter. Institutions are starting to participate in the bailout plans by accepting government investments.   And yet, the nervousness continues on a global scale.  In reality, earnings season has brought some challenges as future outlooks put dampers on any positive numbers.  The credit markets show signs of thawing, though not as quickly as some would like.  Greenspan and others have been forced to relive their mistakes as politicos seem more preoccupied on placing blame than finding solutions (must be an election year).  And the equity indexes tumbled again as excessive volatility continued.  (Are those 40% year-to-date declines for real?)  Yep, another ho hum week in the markets.

Attached/linked please find And That’s The Week That Was, the Brounes &Associates market/economic commentary for the week ended October 24, 2008.

This week:  New Home Sales (Monday), Consumer Confidence (Tuesday), Durable Goods Orders (Wednesday), Fed Policy Meeting Statement (Wednesday), GDP - 3rd quarter (Thursday)

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