Leading Economic Indicators Rise - Economists for the Conference Board reported on Monday that the index of leading economic indicators rose 0.6% in August and is the fifth straight month it has risen. "These numbers are consistent with the view that, after a very severe downturn, a recovery is very near," said Ken Goldstein, economist for the organization.
Dollar Up, Commodities Down - As the market began Monday morning, stocks retreated slightly. The pullback caused a the dollar to strengthen and commodities (oil, natural gas, etc.) to fall. Oil fell to close to $70 per barrel after rising 4% last week. The dollar index, which measures the U.S. unit against a basket of six major currencies, stood at 76.952 compared with 76.895 prior to the Conference Board data.
Fed Buys $4 Billion in Treasurys - The Federal Reserve bought $4.05 billion in Treasurys maturing between 2013 to 2016 on Monday. This is the only planned buyback this weeks as the Fed continues to slow down the program. The last time the Fed bought from this maturity range, it purchased $7.01 billion.
Dollar Up, Commodities Down - As the market began Monday morning, stocks retreated slightly. The pullback caused a the dollar to strengthen and commodities (oil, natural gas, etc.) to fall. Oil fell to close to $70 per barrel after rising 4% last week. The dollar index, which measures the U.S. unit against a basket of six major currencies, stood at 76.952 compared with 76.895 prior to the Conference Board data.
Fed Buys $4 Billion in Treasurys - The Federal Reserve bought $4.05 billion in Treasurys maturing between 2013 to 2016 on Monday. This is the only planned buyback this weeks as the Fed continues to slow down the program. The last time the Fed bought from this maturity range, it purchased $7.01 billion.
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