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September 19, 2007

Of interest rates, stocks -- and your pocketbook

AP photo
Stock markets around the world are reacting positively to the surge in U.S. stock exchanges yesterday. Above, employees of the Korea Stock Exchange look at an electronic stock board in Seoul, South Korea, where the Korea Composite Stock Price Index rose 64.04 points, or 3.5 percent, to close at 1,902.65, its third-biggest point gain ever.

The Fed did it -- cut that key interest rate. And the stock market soared on the news.

What might this all mean to the economic picture in Rhode Island?

Earlier this week, The Journal asked several local financial experts their opinions. See what they had to say in the resulting story. Hint: They don't all agree.

Meanwhile, you can keep track of your investments through projo.com's personal portfolio tools.

And see what happens today when the market re-opens at 9:30 a.m.

Today also brings brings new economic data, which investors will be parsing to determine how the economy is faring amid the current credit climate and volatile stock market.

The Labor Department's August consumer price index came out a few minutes ago, showing that the prices fell for the first time in 10 months, as another big drop in energy costs offset higher food prices.

And the Commerce Department will report on new home construction. The data is anticipated to show that the annual rate of construction of new homes and apartments in August fell since July.

Get the latest here.

Posted by Andrea Panciera  at 9:00 AM | Permalink

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