Morning News Wednesday July 18th 2007
General News: - CPI rose 0.2% and 0.2% core CPI. - Breakdown of CPI: Food prices rose 0.5%, housing rose 0.3%, apparel fell 0.6%, public transportation up 0.8%, medical care was up 0.2% and tobacco rose 0.5%. - Housing starts rise to 1.467 million as a result of the multi-family sector with permits down 1.406 million, more than expected. - Bear Stearns’ troubled hedge funds have shown little value and there is panic that investors may not receive their funds. - Southern California home sales hit a 14-year low. Asia/Europe: Asia: - According to Japanese government minutes, rate…