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Weekly Economic & Investment Report

May 13, 2008 | Leave a Comment

And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended May 9, 2008. Escalating energy prices highlighted the week (again) as Goldman Sachs made news with its dramatic prediction for the months ahead.  Suddenly, the hope that gasoline prices may experience a reprieve by the busy summer driving months came to a quick halt.  Earnings season moved forward with some disappointing news from financials (shouldn’t that have been expected?).

Retailers take center stage next week and some analysts actually are “cautiously” optimistic (at least about the discounters).  Stocks gave back some ground from the recent rally and ended the week on a pretty sour note. And, by the way, the latest Hugo sighting is far from good news from an energy price perspective.  Any new thought, Goldman? 

Coming up in the week ahead:  Retail Sales (Tuesday), CPI (Wednesday), Industrial Production (Thursday), Housing Starts (Friday)

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