Reuters - U.S. manufacturing grew more quickly than expected in July as new orders and employment grew and prices paid declined, according to a survey published on Monday.

AFP - US stocks advanced across the board with the Nasdaq hitting a four-year high following solid corporate earnings and new evidence that the US economy is in robust health, brokers said.

Reuters - U.S. home affordability in the second quarter of 2005 fell from the prior quarter and also was down from the second quarter of 2004, an industry group said on Wednesday.

FT.com - US Treasuries on Thursday traded little changed as investors braced for today's payrolls data and looked ahead to the combination of heavy new supply and a Federal Reserve meeting next week.Consensus expectations for the closely watched employment report are for job creation of about 180,000 last month, though as usual forecasts vary. Treasuries often react wildly on the volatile data, but traders said bonds' recent weakness and the run-up in yields might mean investor positioning, rather than economics, dictates market reaction to the report. ...

AP - Consumer confidence dipped in early August, the second straight monthly decline, as people were anxious about the economy's prospects and their own in the months ahead.

FT.com - When housing markets boom, homeowners get rich. And the rich drive fancy cars, have expensive flat-screen televisions and go on nice holidays. At least that is the way people think it is supposed to work. But we all need somewhere to live so, while the above may be true for some, it cannot work for all of us at the same time. Economy-wide consumption should not respond to changes in property values. That the impact has been large is a problem for everyone, especially for monetary policymakers.

BusinessWeek Online - Another Federal Reserve monetary policy meeting, another rate hike. When Alan Greenspan and other members of the Fed's policy committee meet on Aug. 9, economy-watchers expect a quarter-point hike, to 3.5%.

AFP - There is unusual unanimity among Federal Reserve watchers that chairman Alan Greenspan and his hawkish colleagues on the US central bank will hike interest rates Tuesday for the 10th successive time.

Investor's Business Daily - After its latest rate hike on Tuesday and plans for more of the same, the Federal Reserve looks content playing tortoise, not hare, in its race against inflation.

Reuters - U.S. retail sales surged 1.8 percent last month as buyer incentives led to the biggest gain in auto sales since just after the Sept. 11, 2001, attacks, when carmakers flying the flag put in place zero percent financing deals, a government report showed on Thursday.

AP - An artist looking to make some cash before graduate school is causing a stir with her oil paintings of Alan Greenspan, some bought by fans of the Federal Reserve chairman sight unseen.

Reuters - Private sector economists have raised their forecasts for U.S. economic growth in 2005 compared with three months ago, a Federal Reserve Bank of Philadelphia survey showed on Monday.

FT.com - It is one of the oldest adages in the stockmarket book - don't fight the Fed. When the US Federal Reserve is raising interest rates, the conventional wisdom is that investors should assume a defensive position in anticipation of the economy being forced to slow down.

AFP - Blessed by a resilient US economy that has so far shrugged off the impact of record-high oil prices, the dollar should be enjoying a hot summer.

FT.com - US Treasuries fell and yields rose on Thursday as hawkish Federal Reserve comments coincided with some profit-taking on recent price gains.Michael Moskow, head of the Chicago Federal Reserve, said the US economy seemed to be growing 'at or near' potential, but added that rising energy prices and higher core inflation posed risks to the outlook.By late morning in New York, ten-year yields were flat at 4.173 per cent, but two-year yields had climbed back above 4 per cent and were 2.4bp higher at 4.012 per cent. The Fed is expected to raise rates by a further quarter-point to 3. ...

Investor's Business Daily - Over the next five months, Wall Street will engage in a new parlor game: guessing who'll replace Alan Greenspan.

Investor's Business Daily - Soaring home values, the bloated budget deficit and trade protectionism pose threats to future U.S. economic growth, Federal Reserve Chairman Alan Greenspan cautioned.

AFP - European Central Bank president Jean-Claude Trichet defended his institution's infrequent intervention in interest rates compared to the US Federal Reserve.

AP - Surging energy prices and a strengthening jobs climate raised the risk that inflation could worsen, underscoring the need for Federal Reserve policy-makers in August to keep boosting short-term interest rates higher.

FT.com - Are the Federal Reserve and the bond market at loggerheads? The US yield curve suggests so. The Fed has made clear it believes growth remains strong and that it will continue tightening monetary policy which is still 'accommodative' to avoid the risk of future inflation. Investors expect a Fed funds rate of almost 4 per cent by year end. However, two-year Treasuries yield only 3.82 per cent. And the gap with the 10 year note has narrowed to 20 basis points - from about 180 a year ago. The relatively flat yield curve suggests investors have faith in the Fed's inflation fighting credentials. ...