HAPPY FOURTH of JULY to EVERYONE!
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Fourth of July Thoughts
The midway point of the year is a good time to review your finances. Take time to sit back, think about the future, and position your assets accordingly.
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FINANCIAL MARKETS SUMMARY for WEEK ENDING JULY 3,2008
Major Highlights for the Week Include:
The US stock market entered an official bear market. The market has now dropped in excess of 20% from its peak. Overseas markets fell in sympathy.
The US unemployment rate remained steady at 5 1/2% and showed a total of 67,000 in job losses for the month of June.
The European Central Bank (similar to our Federal Reserve) raised rates by a 1/4% to 4 1/4%. The good news is that it looks like they may done raising rates for the foreseeable future.
The US dollar staged a rebound on Thursday from losses earlier in the week.
Energy and metals prices contined to rise, but grain prices did sell off.
I hope to hear from you sometime soon,either in the forum or in response to this email message. I thrive on your feedback!
Tony Daltorio, Investing Editor
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