Things are improving in the American economy by Corina Ciubotaru

The housing market crisis in America has affected all levels of the economy and many countries around the world. Stocks plummeted, indexes too and the only one who could fix things was the Fed. So it did what it had to, cut the loan rate by half a point and allowed the market to jumpstart itself through investors putting their money where they belong, in companies. But even though stocks and indexes like the Dow, NASDAQ, Standard & Poor's or the Russell 2000 have rocketed yesterday as a result of the cut, fears of recession still hover over American financial analysts. The housing market is still in a slump, as thousands of homes are yet to find a buyer and banks aren't giving loans as easily as they did. The housing starts fell to a 1.331 million unit annual pace in August, the slowest in 12 years.But the stock market has done well again today. After the Dow industrial, NASDAQ and S&P rose yesterday by 2.51%, 2.71% and 2.92% respectively it seems they are following a rising trend. Oil prices have also risen above the record $81, nearly hitting $82; energy prices are on the increase, while the core CPI, which excludes food and energy prices rose 0.2 percent. The dollar slumped against the euro and bonds have been abandoned in favor of higher-profit stocks, which sent their price downwards. Commodity prices also fell in August but investors are optimistic things will work out for the best in the end.

related story: http://news.yahoo.com/s/ap/20070919/ap_on_bi_st_ma_re/wall_street;_ylt=Ag1eKrVOdFzcRE63Jc6l19Ks0NUE

by Corina Ciubotaru for PocketNews (http://pocketnews.tv)

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edited by Barbora Matulova