Consumer Credit Falls For the First Time in 11 Months, Gold Ends Lower
On Monday, gold futures dropped due to pressure ahead of this week's Fed meeting on Wednesday while oil turned higher. Reports were released that consumer credit in the US fell for in first time in eleven months this past July. US markets ended near lows as Intel's (INTC) shares continue to fall and Spain's debt crisis made headlines. Stocks of AIG (AIG) also fell on Monday after the Treasury Department announced it would sell around $18 billion of its stock. Plains Exploration (PXP) plans to buy off fields from both BP (BP) and Shell (RDS) for more than $6 billion and consumers anxiously await the release of Apple's (AAPL) newest iPhone on Wednesday.
Word on the Street
- The Feds feel the pressure as hiring was reported to have slowed drastically in August.
- Plains Exploration (PXP) to buy BP's (BP) Gulf fields for $5.55 billion.
- US consumer credit sees a surprising drop for the month of July.
- The US Treasury announces it will sell most of its stake in AIG (AIG) in a $18 billion stock offering.
- Google (GOOG) and Amazon (AMZN) prepare to face off to become the dominant online mall.
- After hitting a four-month low the dollar begins to recover as attention turns to this week's Fed meeting.
- Hewlett-Packard (HPQ) increases how many jobs it plans to cut by October 2014 to 29,000.
Interesting Tidbits
- One CEO's recollection of three pieces of advice that got her company to where it is today.
- An outlook for the fourth quarter in the advertising and retail industries.
Published on Sep 10, 2012
By InvestorGuide Staff 