Tuesday, June 03, 2008

Quick Overview

  • Fed Chairman Bernanke told an international monetary conference in Spain that further rate cuts were not likely because he was ``attentive'' to the impact of the weak currency.

  • U.S. Factory orders rose 1.1% in April -- stronger than expected.

  • GDP in the Euro area rose 0.8% in the first quarter and 2.2% YoY

  • Australia kept its interest rate unchanged at 7.25.

  • Ford reported a 16% drop in sales of light vehicles in May, as demand for pickups and SUVs continued to sag.

  • GM said it will close four truck plants, and may drop its Hummer brand.

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