Week In Review

Scientists find bugs that eat waste and excrete petrol

Unbelievably, this is not science fiction. Mr Pal holds up a small beaker of bug excretion that could, theoretically, be poured into the tank of the giant Lexus SUV next to us. Not that Mr Pal is willing to risk it just yet. He gives it a month before the first vehicle is filled up on what he calls “renewable petroleum”. After that, he grins, “it’s a brave new world”. more…

State GOP meets in Cruces

There was a bit of a battleground Saturday when Albuquerque delegate Patrick Mannon was escorted out of the meeting, according to first-time delegates Lon Waters and Bonnie and David Murphy, all from Albuquerque.

“They kicked him out because he was trying to ask a question,” said Bonnie Murphy, who said she was shocked and distressed at the upset, which left her feeling left out of the process. “We kind of quieted down. If we left, we’d lose our votes.” more…

Scans see ‘gay brain differences’

When these results were collected, it was found that lesbians and heterosexual men shared a particular “asymmetry” in their hemisphere size, while heterosexual women and gay men had no difference between the size of the different halves of their brain. more…

The Best Firefox Yet

Firefox 3.0 was released this week, and with more than 15,000 improvements, Firefox 3 is faster, safer and smarter than ever before. more…

Bold Bank Forecasts, Why Bear Stearns Still Matters, Fed’s $1 Trillion Folly, China Rattles Oil Market, and More

  • Global banks issue stern warnings… “panic” and “catastrophe” around the corner
  • Ed Bugos on Fed policy… Bernanke talks the talk, but will he walk the walk?
  • Two Bear Stearns fund managers arrested… Chuck Butler on why it matters more than you think
  • Fed passes a dire benchmark… $1 trillion of loans and securities pumped into financials
  • China nixes fuel subsidy, U.S. stock and commodity markets react

more…

Now the Numbers

I have dropped the NASDAQ and the S&P 500, as the Wilshire 5000 is a better overall metric of the health of the U.S. Stock Market. No need for redundancy…

From Wilshire Associates: The Wilshire 5000 “measures the performance of all U.S. equity securities with readily available price data. Over 5,000 capitalization weighted security returns are used to adjust the index. The Dow Jones Wilshire 5000 base is its December 31, 1980 capitalization of $1,404.596 billion. Therefore, the index is an excellent approximation of dollar changes in the U.S. equity market. For instance, values of 2157.146 on 12/30/85 and 2164.690 on 12/31/85 represent an approximate increase of $7.5 billion. The Dow Jones Wilshire 5000 is the best measure of the entire U.S. stock market.”

I’ve also added the CSI 300, the BSE 500, the MICEX, and the BOVESPA, which are Chinese, Indian, Russian, and Brazilan stock market indicies respectively.

DOW Jones Industrials 11,842.69
Wilshire 5000 13,514.89
CSI 300 2,849.67
BSE 500 5,747.63
MICEX 1,829.22
BOVESPA 64,613.79
Gold/oz 901.3
Silver/oz 17.32
Copper/lb 3.8965
Oil/bbl (Brent) 134.86
Wheat/bu (CBT) 8.8425
Corn/bu 7.555
Rough Rice 20.03
Dollar/Euro 1.5607
Yuan/Dollar 6.8756
Yen/Dollar 107.275
Dollar/ Braz. Real 0.6242
Prime Rate 5.00
Fed Target Rate 2.00

Historical data is available here.

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