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CBS4 Your Money: Consumers More Optimistic

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Aug 30, 2008 9:50 am US/Eastern

CBS4 Your Money: Consumers More Optimistic

The US dollar was poised for its biggest monthly rise in over 15 years

MIAMI (CBS4) ―





































On Monday, there was a bit of good news on the housing front with sales up nine percent in July.  A large reason for that was bargain hunters who snapped up foreclosures and short sales.

On Tuesday, fallout from the mortgage crisis with the Federal Reserve revealing bank profits fell 86 percent during the second quarter.

On Wednesday, crude oil prices rose nearly $3 a barrel with the U.S. government showing its oil reserve stockpiles were down.

Better news was released by the Labor Department on Thursday on the eve of the Labor Day holiday. Jobless claims fell for the third straight week. 

The week ended with Americans becoming more optimistic in the economy amid declining gas prices in August, marking the biggest jump in two years.  But Gustav became a potential threat to oil refineries in the Gulf, and analysts believe there could be a short spike in gas prices.

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