Fed Beige Book: Price pressures elevated or rising (Reuters)

In this July 16, 2008 file photo, Federal Reserve Chairman Ben Bernanke testifies before the House Financial Services Committee hearing on Capitol Hill in Washington. The chairman's financial disclosure form, released Monday, July 18, 2008, showed his holdings last year were in no-fills investments, including U.S. Treasury securities, Canadian Treasury bonds, mutual funds and annuities. (AP Photo/Susan Walsh, file)Reuters - The pace of U.S. economic activity slowed somewhat through mid-July and price pressures were elevated or increasing across the country, the U.S. Federal Reserve said on Wednesday in a report showing evidence of inflation warning signs across the country.




Top drug companies' earnings beat forecasts (Reuters)
Reuters - The world's two biggest drugmakers, Pfizer Inc and GlaxoSmithKline Plc , both beat expectations for quarterly earnings on Wednesday, as did Wyeth , indicating the sector's resilience.

San Diego sues Bank of America over foreclosures (Reuters)
Reuters - San Diego City Attorney Michael Aguirre said on Wednesday he had filed a lawsuit against Bank of America Corp and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in his city, which he aims to make a "foreclosure sanctuary."

Boeing's profit drops but it sticks to outlook (Reuters)

Dinesh Keskar, senior vice president for sales, commercial airplanes Boeing Co, speaks during a news conference in Mumbai July 23, 2008. Boeing Co sees an uptick in demand for aircraft in India, despite a current downturn in the domestic aviation market on account of high fuel prices and overcapacity, a senior company official said on Wednesday. REUTERS/Arko Datta (INDIA)Reuters - Boeing Co reported a bigger-than-expected 19 percent drop in quarterly profit on Wednesday as it took a charge on a delayed military plane contract and suffered effects of its troubled 787 Dreamliner program.




Wall Street edges up as oil drops, financials gain (Reuters)

People pass a Wachovia branch office on Tuesday, July 22, 2008 in New York. Wachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well. The nation's fourth-largest bank by assets said it lost $8.86 billion. (AP Photo/Mark Lennihan)Reuters - Stocks rose on Wednesday as financial shares climbed on hopes lawmakers will approve the rescue plan for mortgage finance companies Fannie Mae and Freddie Mac and the price of oil fell.




Fed: Slower growth, rising prices slam economy (AP)

In this July 16, 2008 file photo, Federal Reserve Chairman Ben Bernanke testifies before the House Financial Services Committee hearing on Capitol Hill in Washington. The chairman's financial disclosure form, released Monday, July 18, 2008, showed his holdings last year were in no-fills investments, including U.S. Treasury securities, Canadian Treasury bonds, mutual funds and annuities. (AP Photo/Susan Walsh, file)AP - The country slogged through slower economic growth and rising prices during the summer, packing a double whammy to people and businesses alike.




Investor's Quiz: Was Pullback To 10-Week Line Proper? (Investor's Business Daily)
Investor's Business Daily - The company at this time was heavily traded and owned by dozens of mutual funds.

Ethan Allen quarterly profit drops 46 percent (Reuters)
Reuters - Furniture retailer Ethan Allen Interiors reported a 46 percent drop in quarterly profit on Wednesday, hurt by declining sales and charges to restructure and close some of its design centers.

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