Weekly Economic & Investment Recap: 2.29.08

March 3, 2008 |

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Attached/linked please find And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended February 29, 2008. Unfortunately for investors looking to close out the month with only slight equity index losses, February had an extra day this year and the markets did not take too kindly to the ongoing negative developments.  After a decent start to the week that had investors (somewhat) optimistic about the month as a whole, the final two days saw a return of the “bears” who focused on the weaker economy, declining dollar, softer earnings, rising oil prices, and all else negative.  In fact, Friday was the second worst day for stocks in 2008.  While much of the earnings news and economic data had been expected (for the most part), little positive emerged to bring about any semblance of a rally.  Bernanke keeps saying the right things and investors expect more rate cuts to ease the economic challenges, though the dollar and oil reacted unfavorably to these implications.  Bring on March. Maybe a new month will welcome a new attitude. 

Coming up in the week ahead:  Construction Spending (Monday), ISM - Manufacturing (Monday), ISM - Services (Wednesday), Fed Beige Book (Wednesday), Unemployment Rate (Friday), Non-farm Payroll Additions (Friday)

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