Thursday, October 06, 2005

Quick Overview

  • Dallas Federal Reserve President Richard Fisher on Thursday said core inflation was near the top of its acceptable range, echoing hawkish remarks he made earlier this week that signal more rate hikes to come.

  • Domestic air cargo shipments rebounded from a 5% drop in July to climb 0.6% in August in year-over-year comparisons, the Air Transport Association reported Thursday.

  • The number of Americans filing new claims for jobless benefits rose by 21,000 last week as storm-related applications increased.

  • The U.S. Minerals Management Service said that 20% of oil production and 34% of natural gas production in the Gulf of Mexico is operating again

  • The DoE said that underground supplies of natural gas were up 44 billion cubic feet last week to 2.929 trillion cubic feet. YoY supplies are down 5%.

  • The U.S. Census Bureau said that soybean oil stocks totaled 1.73 billion pounds at the end of August, down from 1.99 billion pounds last month.

  • A NAFTA panel told the U.S. government that its method for computing Canada's softwood subsidies is incorrect and needs revision.

  • China is poised to unveil a new roadmap for the world's seventh-biggest economy that scraps a long-standing policy of faster growth in favor of improving social services and curbing widespread environmental devastation.

  • Brazilian stocks dropped more than 3% on Thursday while the currency was lower by 1% as foreign investors increased their aversion to riskier assets.

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