Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Techplayer who wrote (405351)	5/12/2003 2:10:42 PM
From: sylvester80	Respond to of 769670

Do you think the U.S. economy is only made up of exports? How about the fact that most of the manufacturing is OUTSIDE the U.S.? You are clearly clueless. You take one word from a "Snow" job and use it as gospel. Sheesh... Looks like you've been "Snowed". LMAO! Also: The current account deficit -- the amount of U.S. assets in foreign hands -- stands at about 6 percent of gross domestic product these days. The worry is that, with their U.S. holdings worth less and less in terms of their home currencies, foreigners may decide to bail. Then the dollar's slide wouldn't be nice and soft at all.

To: Techplayer who wrote (405351)	5/13/2003 1:04:35 PM
From: sylvester80	Read Replies (1) \| Respond to of 769670

Trade Gap Widens to $43.5 Billion [ed: must be all those exports... <g>] Tuesday May 13, 8:57 am ET WASHINGTON (Reuters) - The U.S. trade deficit widened in March to its second highest level on record, as a sharp rise in oil prices ahead of the war in Iraq boosted the value of U.S. crude petroleum imports to a record $9.1 billion, the U.S. Commerce Department said on Tuesday. March imports from OPEC (News - Websites)nations were a record $6.5 billion, pushing the U.S. trade deficit with those countries to an additional record of $5.0 billion. The overall trade gap was $43.5 billion, up 7.6 percent from February and well above expectations for March. Analysts had pegged the latest monthly figures on average at $40.8 billion. The report put additional pressure on the dollar, which has been in a decline since February 2002. In early trading, the dollar was down modestly against the euro, the common currency for the European Union (News - Websites). The widening trade gap also reflects a jump in overall imports to $126.30 billion, which was second only to the record of September 2000 record of $126.33 billion. The sharp rise in oil and other industrial materials imports was followed by smaller increases of consumer goods and autos and auto parts. Imports from Western Europe hit record levels in March, even as France and Germany were strongly opposed to U.S. efforts in the UN to win a second resolution authorizing the use of force against Iraq. U.S exports to Western Europe were the highest since May 2001. Strained relations over the war has triggered threats of consumer boycotts on both sides of the Atlantic. But much U.S.-European trade is done within companies, lessening the impact that boycotts could have on the overall trade figures. U.S. exports increased only fractionally in March to $82.8 billion, although shipments to China hit a record $2.4 billion. "It's kind of hopeful that we're seeing a modest increase in exports, which is better than the declines we had seen earlier. So perhaps the weaker dollar is beginning to support exports," said Jade Zelnik, chief economist with RBS Greenwich Capital Markets. The March trade deficit with Mexico was a record $3.9 billion, while the deficit with Canada was the highest since January 2001.

To: Techplayer who wrote (405351)	5/14/2003 12:11:18 PM
From: sylvester80	Respond to of 769670

Import Prices Post Largest Fall on Record Wednesday May 14, 9:04 am ET biz.yahoo.com WASHINGTON (Reuters) - U.S. import prices posted a record drop in April, dragged down by a sharp fall in petroleum costs, and by falling prices in a wide range of other categories, the government said on Wednesday in a report that may fan deflation fears. Import prices sank 2.7 percent in April, the Labor Department said, far below analyst expectations for a drop of just 0.6 percent. The decline was the largest one month drop in the history of the report and followed an increase of 0.7 percent in March. Petroleum prices plunged 16.2 percent, the biggest drop since February 1991. But excluding petroleum, import prices still fell 0.9 percent. Prices of nonpetroleum imported industrial materials and supplies fell 5.0 percent, also the largest drop on record. The cost of imported cars and parts were flat in April, while the price of imported consumer goods also showed no change. Export prices were also down, declining 0.1 percent. The Federal Reserve policy-makers meeting last week raised concerns about deflation. However, with the Labor Department releasing reports on producer prices on Thursday, and consumer prices on Friday, both the Fed and financial markets are likely to want to wait to see those reports for a more complete picture of price pressures. "I think the Fed will want to look at the PPI and CPI," said Carol Stone, deputy chief economist, Nomura Securities International Inc., New York. "These import prices are not seasonally adjusted. They (the Fed) will wait for broader price information." Analysts are expecting producer prices to drop 0.6 percent and the consumer price report is expected to show a fall of 0.1 percent.