Monday Pre-Market US: Key News & Data

by: Between the Hedges

From Between the Hedges:

Weekend Headlines

-- President Bush today praised the Iraqis for making progress toward the formation of the first permanent unity government since the fall of dictator Saddam Hussein.
- President Bush said the US must reduce its dependence on oil and invest in alternatives, including hydrogen fueled vehicles.
- OPEC should agree at a meeting tomorrow to offer all its idle capacity to the market as soon as possible in an attempt to lower prices, Kuwait’s oil minister said.
- People’s Bank of China Governor Xiaochuan said the opening of the country’s economy to market forces, including changes to the exchange rate, can be accelerated.
- Pakistan invited OAO Gazprom and other Russian companies to explore for oil and natural gas and build pipelines.
- The G-7 said the world economy is in “strong