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Strategies & Market Trends : The coming US dollar crisis

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From: LTK0078/19/2008 8:39:54 AM
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08:34 am : S&P futures vs fair value: -9.2. Nasdaq futures vs fair value: -11.5. Futures extend their losses as two economic reports hit the wires, with one showing higher-than-expected inflation. The Producer Price Index (PPI) rose 1.2% in July (consensus +0.6%) and the core PPI, which excludes food and energy, rose 0.7% (consensus +0.2%). Separately, building permits fell 17.6% to 937,000 (consensus 970,000) and housing starts fell 11.0% to 965,000 (consensus 960,000). In earnings news, Target (TGT) reported quarterly earnings of $0.82 per share, which topped the $0.76 consensus estimate.
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