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"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Tuesday, May 15, 2007

News You Can Use for Tuesday

I'm in Las Vegas for the World Money Show, and on a restricted publishing schedule as I rush from conference to meeting to conference. Here are some news stories I found interesting today ...

Median Home Price in U.S. Declines 1.8 Percent to Two-Year Low of $212,300 The U.S. median home price tumbled to a two-year low in the first quarter as prices fell in almost half of U.S. cities, the National Association of Realtors said. [XX Sean's note -- Can't you just hear Mike Larson saying "I told you so!" Ah, that Mike!]

Bolton of Fidelity Says Stock Markets May Be About to Fall, Shorts Shares Fidelity International's Anthony Bolton, who has called bear markets successfully on two previous occasions, said stocks may be about to fall because there's too much risk in financial markets. [XX This is interesting especially considering the Money and Markets I've written for tomorrow. More on that after it gets published]

Stocks in U.S. Advance as Inflation Trails Analysts' Estimates; GM Rises U.S. stocks rallied and the Standard & Poor's 500 Index reached a six-year high after consumer prices rose less than forecast, reinforcing speculation the Federal Reserve won't increase interest rates. [This has been a big boost for commodities and commodity stocks this morning. Go, gold!]

China Retail Sales Rise 15.5 Percent as Incomes Rise, Stock Market Booms China's retail sales grew 15.5 percent in April from a year earlier as rising incomes and a stock market boom encouraged the world's most populous nation to spend.

Copper Rebounds as Chinese Imports Surge This Year, Signaling Demand Gains Copper rose in New York after imports into China, the world's biggest consumer of the metal, surged 61 percent in the year's first four months.
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