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Tropical Storm Isaac…
Interesting developments to come - See what made the cut...
 

Tropical Storm Isaac…
As Isaac makes its way toward the state of Florida and the Gulf Coast, residents are preparing, for whatever it may bring. The storm has a potential of affecting the Tampa Bay area in Florida, the destination for the Republican National Convention from August 27 - August 30. The city of Tampa is expecting 2,286 delegates and 2,125 alternate delegates from all 50 states, the District of Columbia and five U.S. territories as they gather to nominate the next Republican presidential candidate of the United States at the 40th Republican National Convention. Residents in the Florida area and those in the Gulf Coast region are urged to utilize their preparedness plan, ahead of potential Hurricanes, in the region.

Labor Day Holiday…
Although this will be a regular 5 day trading week, traders can expect lighter than usual trading volume as many traders and investors head out early, for the final holiday for the Summer season. With students heading back to school, and college classes beginning, traders are looking forward to getting down to business, after the U.S. holiday September 3rd.

Federal Reserve Chairman Ben Bernanke and more Fed Easing…
Fed Boss Bernanke responded to a letter from Darrell Issa, the California Republican who heads the House Oversight and Government Reform committee and said there’s room for the central bank to take more action. “There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery,” Bernanke said. He added that there are potential costs and risks to consider before taking action. Bernanke also defended accusations that the Fed acts when the market pouts. “Markets understand that basic fact [that policy is set on future economic forecasts]; as a result, when new information becomes available regarding the future state of the economy, they draw their own inferences regarding the likely future course of policy.” Bernanke responded by repeating the Fed’s mandate — to promote price stability and maximum sustainable employment, adding it’s “keenly attuned” to the risks of inflation, when addressed as to whether Fed action obscures signals for potential economic growth, hides risks of inflation and alters returns on investment.

Pain at the Pump Continues...
As travelers prepare to hit the road for their final Summer holiday of the season, the average price of gas sits at $3.71 per gallon, up from $3.57 during same time in 2011. “Barring any significant market-moving developments, we would expect gas prices for Labor Day 2012 to be slightly higher or nearly the same as today,” Michael Green, a spokesman for AAA, said on Wednesday, when prices averaged $3.716. “If that prediction turns out to be correct, then this year’s gas prices for Labor Day would be about 20% higher than the five-year average, [and] about 40% higher than the 10-year average,” he said.


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