Bloomberg:
- The cost to protect corporate debt from default dropped to the lowest in more than two months as futures signaled the
- Crude oil rose more than $2 a barrel as the US dollar fell against the euro, prompting speculators to purchase commodities.
- Buy Wal-Mart(WMT), Sell Goldman(GS) Becoming Easiest Trade. The best trade on Wall Street these days may be buying Wal-Mart Stores(WMT) and companies whose earnings will increase as the US economy recovers, while selling the banks that were behind the subprime market meltdown.
- Jim O’Neill, head of global economic research at Goldman Sachs(GS), says the economy is “not as bad as they all think.” (video)
- India’s inflation accelerated to the fastest pace in more than three years.
- Federal Reserve officials signaled the central bank will keep lowering interest rates because financial markets remain distressed.
Wall Street Journal:
- Nokia Corp.(NOK) is counting on people such as Rita El Khoury, who splurged on the Finnish phone maker’s $674 N81 handset so she could be an early user of the company’s N-Gage Internet service platform for videogames.
- Microsoft(MSFT) and Yahoo Inc.(YHOO) senior executives met this week to discuss Microsoft’s proposal to acquire the Internet company but failed to resolve any of their differences.
- Failure by the US Congress to pass a free-trade agreement with Colombia this year would be a serious setback for Washington’s closet ally in South America, President Alvaro Uribe said.
NY Times:
- Rising Leader for Next Phase of Al Qaeda’s War.
- Democrats Fight for Super-Superdelegates.
Financial Times Deutschland:
- Otmar Issing, the European Central Bank’s former chief economist, said the euro’s appreciation helps curb inflation.
Market News International:
- European Central Bank council member Vitor Constancio said slower economic growth will damp inflation. Constancio predicted the
- The IMF cut its 2008 forecast for
