Quick Overview

• The U.S. Fed reduced the federal funds rate from 5.25% to 4.75% and the discount rate from 5.75% to 5.25%.
  

• The U.S. producer price index was down 1.4% in August -- up 2.2% YoY
  

• The capital flow into the U.S. was $103.8 billion in July, up from $34.4 billion in June.
  

• The National Association of Home Builders said its index of homebuilders expectations fell from 22 to 20 in September.
  

• The House approved a plan to expand federal backing of mortgages in hopes of helping homeowners avoid foreclosure.
  

• YoY U.K.'s consumer prices rose 1.8% in August.
  

• Japan's index of services was down 0.5% in June.