Economic Week in Review: Inflation sizzles, retail sales fizzle–week ending Friday July, 17

Posted on July 19, 2008. Filed under: -- Economic Week In Review, -- Uncategorized | Tags: |


By Molly Greaves
This week, in case you missed it, the Dow Jones dropped 120 points falling below 11,000 points for the first time since July 2006. They ended the day at 10,977.68; pretty close to the 52-week low, 10,827.71. Fortunately it re-gained some momentum ending at 11,496.57, up +49.91/+0.44% this Friday at close. 
Below is a re-cap that I received from Vanguard. I receive this each Friday, and I will continue to post them for you here.  I also recommend checking out Vanguard too of course.
Thank you for checking out my blog =)
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Economic Week in Review: Inflation sizzles, retail sales fizzle
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Both wholesale and retail inflation rose at a worrisome pace in June,
fed mainly by higher energy prices. And, in congressional testimony
this week, Federal Reserve Chairman Ben Bernanke said that the “upside
risks to the inflation outlook have intensified lately” because of
higher commodity prices. Indeed, energy prices have boosted the
gasoline portion of retail sales. Even so, retail sales were tepid
despite the distribution of federal economic stimulus checks. In the
financial markets, the S&P 500 Index rose 1.7% to 1,261 (for a
year-to-date total return of -13.2%). The yield of the 10-year U.S.
Treasury note rose 15 basis points to 4.11% (for a year-to-date
decrease of 7 basis points). 

 

To read Vanguard(R) Economic Week in Review in its entirety, go to:
http://www.vanguard.com/visit/econweek071808

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