Daily Market Update 6/4/08

Rates remained steady Wednesday as first quarter Productivity was revised higher, to 2.6% from 2.2%. Growth in productivity helps keep inflation in check by allowing companies to offset higher costs through greater efficiency. Oil prices continued their slide to around $123 a barrel, down from a peak of $135 last month. US consumers have abruptly changed their car buying patterns in the wake of higher gas prices, shunning trucks and SUV’s in favor of smaller, more fuel efficient automobiles. Attention now turns to Friday’s release of the Employment Report for May.

Leave a Reply

Your email address will not be published.

Back to top