And That’s The Week That Was

August 4, 2007 |

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And That’s The Week That Was…the Brounes & Associates market/economic commentary for the week ended August 3, 2007.  A week highlighted by a huge toy recall, some more devastating news on the subprime front, and a weaker than expected labor number can’t possibly be positive for the markets.  Then again, coming off the worst week for equities in five years, everything is relative.  Earnings number were mixed (as usual) and a few corporate transactions brought some welcome news (unless you enjoy the integrity of the Wall Street Journal).  Stocks were buzzing along as bottom fishers searched for value in the recent market downturn.  However, some ill-timed comments by the Bear Stearns CFO sent equities into another end-of-week tailspin and left investors once again licking their wounds heading into the weekend.  Bonds (by default) are back in favor as the economy seems to weaken with each new release.  What say you, Dr. Bernanke?

Coming up in the week ahead:  Fed Policy Meeting (Tuesday)

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