Fill out this form to email this article to a friend
As Wall Street sets records
By The Times Staff
Published July 14, 2007
As Wall Street sets records ... Stocks moved into record territory Thursday and Friday, with the Dow Jones Industrial Average passing 13,900 for the first time, closing at 13,907.25. The Standard & Poor's 500 Index finished at a record 1,552.50. Nasdaq indexes also rose, but are still far from their 2000 highs. Retail sales take sharp plunge Retail sales fell 0.9 percent last month, with motor vehicles, building materials and furniture showing the sharpest declines, the Commerce Department said Friday. Higher gas prices and housing woes got the blame for the steepest sales drop in nearly two years. Dollar losing value in world currencies The dollar hit an all-time low against the euro in trading Friday, breaking the mark of $1.38 per euro for the first time. Earlier in the week it hit a record low against the Canadian dollar. It's also at a 26-year low against the British pound. Concerns about the U.S. economy are behind the dollar's weakness. Housing market is in recession Housing starts and home sales have declined dramatically and higher mortgage rates and large inventories of unsold homes are an impediment to recovery. The National Association of Realtors trimmed its 2007 forecast Wednesday, expecting sales and building numbers to continue their decline.
[Last modified July 14, 2007, 01:09:09]
Share your thoughts on this story
[an error occurred while processing this directive]
|
News
Fifty years ago, they were screwed-up kids sent to the Florida School for Boys to be straightened out. But now they are screwed-up men, scarred by the whippings they endured. Read the story and see a video and portrait gallery.
Print
Email story
Comment
Letter to the editor