Consumer Prices Surge, Markets Climb, Oil Dips

• August 14, 2008
• David Goodboy

Consumer prices surged at the highest rate in 17 years, inflation rockets, yet stocks show amazing resilience with the DJIA climbing +82.97 to 11615.93, the Nasdaq soared +25.05 to 2453.67 and the S&P 500 added +7.10 to 1292.93.

Ctrip.com
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Estee Lauder
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Lehman Brothers
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PMI Group
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Oil dipped $1.05 to $114.95/barrel, gold dropped $19.90 to $811.60/oz and Natural Gas fell $0.33 to $8.12.

Market Snapshot

Dow +82.97 11615.93 NASDAQ +25.05 2453.67 S&P 500 +7.10 1292.93

Economic News

Trade Balance (Jun): Consensus -$61.9B, Prior -$59.8 Treasury Budget (Jul): Consensus -86.8B, Prior -$36.4B Export Price ex-ag. (Jul): Consensus NA, Prior 0.9% Import Price ex-oil (Jul): Consensus NA, Prior 0.9% Retail Sales (Jul): Consensus -0.1%, Prior 0.1% Retail Sales ex-auto (Jul): Consensus 0.5%, Prior 0.8% Business Inventories (Jun): Consensus 0.6%, Prior 0.3% Crude Inventories (08/09): Consensus NA, Prior 1614K Core CPI (Jul): Consensus 0.2%, Prior 0.3% CPI (Jul): Consensus 0.4%, Prior 1.1% Initial Claims (08/09): Consensus 436K, Prior 455K NY Empire State Index (Aug): Consensus -5.0, Prior -4.9 Net Foreign Purchases (Jun): Consensus $57.5B, Prior $67.0B Capacity Utilization (Jul): Consensus 79.8%, Prior 79.9% Industrial Production (Jul): Consensus 0.0%, Prior 0.5% Mich Sentiment-Prel (Aug): Consensus 62.0, Prior 61.2

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