Markets eye Fed rate cut; housing starts data due this week
CBS News
Transcript
investors are waiting for the other shoe to drop as they get back to work on Wall Street this week they'll be looking for any signs at the mortgage mess and credit crunch stocks wrapped up a rocky week with just a small loss Friday the blue chips bounced back from a 200 point deficit after the Federal Reserve injected 38 billion dollars into the banking system when the dust settled the Dow finished down just 31 points the Nasdaq Composite loss too modest 11 investors will be keeping an eye on the Federal Reserve amid a growing chorus of calls for a rate cut before the next scheduled policy meeting in September the Fed will be watching for the latest reports on wholesale and retail inflation those are due out this week the housing market will also be in the spotlight we'll see if hurting home builders have been able to turn things around when we get the latest numbers on housing starts and building permits for july and how is the consumer holding up in all of this we find out with the latest retail sales figures for July Wall Street is looking for signs that Americans have been able to weather high gas prices and the slumping housing market that's your money watch log on to cbsnews.com for all your business headlines at the new york stock exchange i'm alexis crystal for us