Housing Report Due; Goldman Expected to Report Earnings Loss & Bush Admin. Pushing New Lending Program

6:30 AM – TUESDAY — Look for the housing starts report to be released this morning at 8:30. Let’s face it — it’s a no-brainer that it will be down again.
There’s news on the Goldman Sachs front today:
The Economic Times is reporting Goldman has invested $50 million in Sterling & Wilson, which is one of India’s top mechanical, electrical and plumbing contracting companies.
Forbes has a rundown on how Goldman will be reporting its second quarter earnings today, which the street expects to be lower.
Forbes also has a good rundown on what’s going on in the current commodities market.
I caught Dennis Gartman on Fast Money last night, and he believes Saudi Arabia’s recent announcement that they may start pumping out more oil won’t really affect the current market, since the type of oil they will be pumping is thicker in quality than what is most needed for the majority of U.S. demand.
According to the Wall Street Journal, the Bush administration is trying to push through a U.S. mortgage lending program, which Europe has embraced for many years that makes it easier for a homebuyer to obtain a loan.
Not that this is any hot-off-the-presses news, but the WSJ also has a good re-cap this morning of how even hedge funds are having a hard time of it in this volatile market.
On my “to do due diligence list” this morning is bonds, which some on the street think may be getting ready to rally.
Reminder: Don’t base any of your investment decisions on anything in my little blog. Do your own due diligence, or hire a professional to do it for you.

One Response

  1. India has “enormous potential in all its property investment categories”. Strong population growth, a large pool of qualified workers, greater integration with the world economy and increasing domestic and foreign investment are fuelling demand for office, retail and residential property. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%.India is the prime destination for IT services outsourcing. In the coming five years, at least 55 million m² of extra office space must be completed in the premium office segment alone. Property investments in India are not risk-free. Market transparency is far behind European or US standards. It is therefore vital for foreign investors to have a professional local partner. The lack of liquidity and upward pressure of pricing remain the main concern within the market.For more view- realtydigest.blogspot.com

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