Tuesday, October 09, 2007

Quick Overview

  • The Dow and S&P 500 closed at records after minutes from the Federal Reserve's last meeting showed inflation expectations were contained, leaving open the question of whether another rate cut is near.

  • Federal Reserve Bank of St Louis President William Poole said the deprecation of the dollar should not hit inflation, owing to the limited pass-through from the currency via import prices.



  • India has extended its export ban of wheat for an indefinite period, while allowing the restriction-free import of wheat indefinitely .

  • Heating oil customers will pay an average of 22 percent more this winter than last and natural gas customers will pay 10 percent more, the Energy Department estimated.

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