Thursday, October 25, 2007

Quick Overview

  • U.S. Durable goods orders fell 1.7% in September, weaker than expected. Excluding transport orders rose 0.3% in September.

  • The DoE said underground supplies of natural gas were up 68 billion cubic feet last week to 3.443 trillion cubic feet.

  • China’s GDP rose 11.5% QoQ.

  • The U.S. Fed is close to agreeing to changes in its communication strategy, including quarterly publication of internal forecasts, but it will not adopt an inflation target any time soon.

  • Microsoft said first-quarter earnings rose 23 percent, exceeding estimates.

  • Crude oil rose above $90 after a report showed a drop in U.S. stockpiles and the U.S. imposed new sanctions against Iran. This is prompting new fears about supplies ahead of the peak winter season.

  • For the eighth month Japan's consumer prices fell 0.1%, a sign that deflation lingers in the world's second-largest economy.

  • Japan’s industrial production fell 1.4 %

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