Bad news from China has sparked a firestorm in the developing countries that feed its vast industrial machine, leaving a swath of economies with few good ways to escape a crunch.
Oil prices have already fallen to their lowest level in 6 ½ years, and gasoline prices at the pump may soon follow suit. Oil prices fell under $40 a barrel on the New York Mercantile Exchange August 24, their lowest level since February 2009, and at times traded under $39. “If oil remains at this level, it is practically guaranteed that average gas prices will fall below $2 per gallon by Christmas,” said Michael Green, a spokesman for AAA.
Consumer demand for better tasting coffee is splitting the coffee market in two. A growing number of coffee roasters that deal in small farm-produced and best-flavored coffees are leaving the traditional, and more volatile, futures market, which they say has become so disconnected from their business models that it is no longer useful to manage risk.
Listen in for much more in the Wall Street Wrap-up.
