Largely European markets experience slow growth but cautious over Asian Markets fall.
Wal-Mart and Saks report higher profits at the end of 2006 boosting investor confidence. Oil prices become constant subject to investor's talks and negotiations between UN and Iranian representatives worries energy market. Some say that President Bush's visit to Brazil will boost ethanol production affecting positively on oil prices overall.
Secretary of Treasury Paulson makes important visit to China and addresses issue of open markets. Since 2005 when yen was openly traded it rose 7%. He added about monetary policy "Liquidity which cannot be absorbed is available to the banks for lending, running the risk of excess lending and future non-performing loans," Paulson said.
Senate Banking Committee slams major credit card banks on enormous interest rates. Senators challenged credit card executives and pointed at the penalties and market practices as greedy.
Democratic Senator from Connecticut said industry is on notice if it doesn't improve practices senators will pass legislation to protect consumers.
A man from Ohio testified that $3,200 credit rose to $10,700 with interest and fees. Across the country Bank of America, Chase Citygroup and other credit card companies charge handsome interest mainly on low and average income consumers.
Main expectation on the market is rebound and cautions trading.
From efamilyfinance.com market watchers.
eFamily Finance
Vladimir Dubchak
Posted March 8th, 2007 by vladdubchak
