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donsutherland1 · 07-14-08, 10:47 PM

Data-filled Day Looms…

On Monday, the Dow Jones Industrials fell to 11,055.19. That is its lowest close since the Dow closed at 11,051.05 on July 24, 2006.

To date, the Dow Jones Industrials has now fallen 22.0% from its October 2007 peak of 14,164.53. In inflation-adjusted terms, the Dow is now 25.2% below its peak.

The S&P 500 closed at 1,228.30. That is its lowest close since June 13, 2006 when it closed at 1,223.69. To date, the S&P 500 has now fallen 21.5% from its October 2007 peak of 1,565.15. In inflation-adjusted terms, the S&P 500 is now 24.8% below its peak.

Tuesday will experience a blizzard of economic data on manufacturing output, retail sales, and producer prices released prior to the opening of trading.

• Producer Price Index: The producer price index for June will be released at 8:30 am EDT. It is likely to show a continuation of inflationary trends in the food and energy area. One thing to watch will be whether the early indications of a spillover into the broader economy shown on the May reading are confirmed in June’s data.

• Retail sales: The June retail sales figure will be released at 8:30 am EDT.

• New York State’s Manufacturing data: Also, at 8:30 am EDT, the New York Federal Reserve will release data concerning manufacturing output in New York State. The consensus forecast is for a continuing contraction of manufacturing output.

As the day wears on, additional developments could influence trading. At 10:00 am EDT, the business inventories information will be released. The relationship between the retail sales data and inventories data could be revealing as to whether inventories are beginning to pile up (usually a sign of slower output in the future) or inventory growth is lagging retail sales growth (usually a sign of faster production in the future).

Beginning at 11:30 am, EDT, U.S. Secretary of Treasury and Federal Reserve Chairman Ben Bernanke will testify before the Senate Banking, Housing, and Urban Affairs Committee. In addition to its covering the state of the economy, inflation, and monetary policy, both the Fed Chairman and Treasury Secretary are likely to discuss the state of the nation’s financial system and the troubles plaguing Fannie Mae and Freddie Mac.

07-14-08, 10:47 PM	#34 (permalink)
donsutherland1 Moderator Mod team member Join Date: Oct 2007 Last Online: Yesterday 11:36 PM Location: New York Posts: 2,465 Thanks: 812 Thanked 1,567 Times in 874 Posts Lean: Centrist Gender: Awards:	Re: U.S. Stocks Tumble: Some Comparisons from Past Recessions Data-filled Day Looms… On Monday, the Dow Jones Industrials fell to 11,055.19. That is its lowest close since the Dow closed at 11,051.05 on July 24, 2006. To date, the Dow Jones Industrials has now fallen 22.0% from its October 2007 peak of 14,164.53. In inflation-adjusted terms, the Dow is now 25.2% below its peak. The S&P 500 closed at 1,228.30. That is its lowest close since June 13, 2006 when it closed at 1,223.69. To date, the S&P 500 has now fallen 21.5% from its October 2007 peak of 1,565.15. In inflation-adjusted terms, the S&P 500 is now 24.8% below its peak. Tuesday will experience a blizzard of economic data on manufacturing output, retail sales, and producer prices released prior to the opening of trading. • Producer Price Index: The producer price index for June will be released at 8:30 am EDT. It is likely to show a continuation of inflationary trends in the food and energy area. One thing to watch will be whether the early indications of a spillover into the broader economy shown on the May reading are confirmed in June’s data. • Retail sales: The June retail sales figure will be released at 8:30 am EDT. • New York State’s Manufacturing data: Also, at 8:30 am EDT, the New York Federal Reserve will release data concerning manufacturing output in New York State. The consensus forecast is for a continuing contraction of manufacturing output. As the day wears on, additional developments could influence trading. At 10:00 am EDT, the business inventories information will be released. The relationship between the retail sales data and inventories data could be revealing as to whether inventories are beginning to pile up (usually a sign of slower output in the future) or inventory growth is lagging retail sales growth (usually a sign of faster production in the future). Beginning at 11:30 am, EDT, U.S. Secretary of Treasury and Federal Reserve Chairman Ben Bernanke will testify before the Senate Banking, Housing, and Urban Affairs Committee. In addition to its covering the state of the economy, inflation, and monetary policy, both the Fed Chairman and Treasury Secretary are likely to discuss the state of the nation’s financial system and the troubles plaguing Fannie Mae and Freddie Mac.