CPWM News & Analysis
Market 360: The Best and Worst of the Week for US Equities, Commodities, Currencies, and More
27 Jun 2008 EDT - CNBC.com
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For the week ending Friday, June 27, 2008, the U.S Markets tumbled on low consumer confidence levels, battered financial stocks, interest rates concerns, and new record highs in crude prices. On Friday, the Dow closed at a new low of 11,346.51, the lowestsince 09/07/2006.The Federal Reserve kept the target rate unchanged at 2.0%, and indicated that inflation and a weak dollar was still a concern which may lead to a rate hike, as the dollar continues to depreciate against the Euro.
Next week, the markets will watch for Euro-zone CPI Monday, and a potential ECB rate hike Thursday, followed by the U.S. jobs report on Thursday, and earnings in H&R Block, Constellation Brands, Apollo Group, and Family Dollar.
Highlights:
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