All Through the Night
Posted 06:51 a.m., May 5, 2008
World stock markets were mixed overnight as economic worries – fed in part by weekend comments from Warren Buffett and Alan Greenspan to the effect that the U.S. is, indeed, in a recession – and the collapse of Microsoft’s bid to acquire Yahoo limited gains. The dollar edged lower and commodities, including oil and gold, crept higher, reversing their moves on Friday after the stronger-than-expected April employment report.
Locally, the average price of a gallon of regular unleaded gasoline was $3.476, down from Sunday’s $3.48 and the all-time high of $3.515 set last Thursday. A month ago, the price was $3.185 and a year ago, $2.81.
Economic reports due today:
10 a.m.: Institute for Supply Management non-manufacturing (i.e., services) index for April. Consensus forecast: 49.3, down from 49.6 in March. A reading below 50 indicates contraction.
Local business events today:
The city of Charleston and Lulan Artisans present a lecture in the Lulan Sustainable Community Lecture Series. Speaker: Nate Garvis, Target Corp. Topic: How Conspicuous Consumption Could Save the World. 6:30 p.m. Charleston Visitor Center, 375 Meeting St. For information call Barbara W. Vaughn at 724-3746 or e-mail vaughnb@ci.charleston.sc.us.
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