Today's Headlines

Bloomberg:
- Senate Banking Committee Chairman Christopher Dodd said Federal Reserve Chairman Ben Bernanke agreed to use “all of the tools at his disposal” to restore stability to markets roiled by the subprime mortgage crisis.
- Apple Inc.(AAPL) may sell more than 800,000 iPhones this quarter, beating the company’s goal of 730,000, as consumer demand for the device stays strong, UBS AG analyst Benjamin Reitzes said.
- Harvard University’s endowment grew 23% for the fiscal year ended June 30.
- Countrywide Financial(CFC), the biggest US mortgage lender, rose as much as 12% on the NYSE on speculation Warren Buffett may be interested in buying some of its units.
- Target(TGT) and Saks Inc.(SKS), at opposite ends of the retail spectrum, said sales will rise this year on the success of higher-margin designer goods.
- The SEC said it is monitoring US investment banks closely and does not see any signs of financial weakness.
- China raised interest rates for the fourth time since March to cool the world’s fastest-growing major economy after inflation surged to a 10-year high.
- Uranium tumbled 14% last week, the most ever, as supply exceeded demand and the US Dept. of Energy prepared to sell inventories of the metal used to fuel nuclear reactors, said industry pricing service Ux Consulting.
- Crude oil is falling below $70 a barrel in NY for the first time since July 2 after Hurricane Dean missed US oil fields and was downgraded to a Category 1 storm by the US National Hurricane Center.
- US 3-month Treasury bills rose for the first time in six trading days as demand fell for the safest government securities.
- Moody’s(MCO) says global bank crisis fears are overstated.
- Moody’s Cailleteau Says Banking Crisis Concern Is Exaggerated.

Wall Street Journal:
- When Special Education Goes Too Easy on Students.
- After the Tumult, Is it Buffett Time?