TrainGuy- ECRI Index Slumps and Oil Prices Surge- Boolish !
(Oh, right, Osama captured AGAIN !)
ECRI index signals lackluster U.S. growth
By Rex Nutting
WASHINGTON (CBS.MW) -- A weekly gauge of future U.S. economic activity fell 0.2 percent last week, the fourth decline in a row and the sixth week without any growth. Lakshman Achuthan, director of the Economic Cycle Research Institute, said the ECRI weekly leading index is signaling "lackluster" growth through 2004 and into 2005. "It's not saying there's a more severe downturn ahead," Achuthan said. But it's not signaling the reacceleration in growth that many, including many Federal Reserve officials, are predicting either. Lackluster growth means growth will continue at close to the economy's long-term trend, not strong enough to create many jobs, Achuthan said.
Crude futures climb, edge closer to $45 in early trade
By Myra P. Saefong
SAN FRANCISCO (CBS.MW) -- October crude is up 92 cents at $44.80 an ounce in morning trading. Oil facilities in the Gulf of Mexico seem to have escaped major damage form Hurricane Ivan but the market should remember "that Hurricane season is only halfway over," said Kevin Kerr, a senior trader at Kwest International. "There is still plenty of time for more hurricanes to do damage, and we already have [Tropical Storm] Jeanne on the way."
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