Few economic reports were released last week, giving investors and the financial markets a quick breather and time to prepare for a horde of reports set to be released this week including real gross domestic product (GDP) and employment. Last week's reports were mixed as initial unemployment claims improved, but home sales and durable goods orders dropped. Stock markets ended the week higher and the dollar improved against the euro while oil prices set yet another record high, ending the week at $118.49 a barrel. With the economy most likely in a recession, analysts believe that the Federal Open Market Committee (FOMC) will lower the federal funds rate target at their next meeting on April 29/30. However, investors increased their assessment last week that the FOMC will pause from lowering the federal funds rate target after this meeting because of the accelerating pace of inflation.

[ Mon, 28 Apr 2008 00:00:00 GMT ]

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