Market Review on Hovnanian Enterprises Inc.

0 Comments | M2 Presswire, January, 2008

M2 PRESSWIRE-23 January 2008-Streetinvesting.com: Market Review on Hovnanian Enterprises Inc(C)1994-2008 M2 COMMUNICATIONS LTD

RDATE:23012008

The Federal Reserve slashed two key interest rates by three-quarters of a percentage point Tuesday following continued concerns about a weakening economy and turmoil in the financial markets. This is the biggest rate cut by the Federal Reserve since October 1984. However, contrary to popular belief, as a result of an impending recession, little relief will come in the form of lower gas prices, experts say. Despite recently falling oil and gasoline prices, strong worldwide demand, refinery shortages, and OPEC production costs should keep gasoline well above $2 a gallon in 2008.

Meanwhile, chemicals maker...