Monday, February 11, 2008

Quick Overview

  • Dow-Jones said Bank of America and Chevron will replace Altria Group and Honeywell International in its Dow-Jones Industrial Average effective Feb. 19th.

  • Bush signed the $170 billion stimulus package.

  • U.K.’s producer prices rose 5.7% YoY

  • Goldman Sachs raised its three- and six-month outlook for Chicago wheat futures by 47 percent to $13.50 a bushel after the U.S. Department of Agriculture cut projected 2007/08 U.S. wheat ending stocks to 272 million bushels, the lowest level since 1947/48.

  • The global corporate default rate in junk debt will jump to 4.6% by the end of this year, Moody's Investors Service said.

  • South Africa's electricity shortage continues with state owned Eskom, which won't be able to increase capacity until 2013, asking consumers to cut usage by 10 percent.

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