An analyst predicts that gold will head into a bull market, and Washington Mutual increases its liquidity position. The following are today's top videos:
The Blueprint for Housing
“We’re hoping that [mortgage servicers are] going to take advantage of the bill. We had a number of choices in order to diminish the foreclosure. And I think diminishing the number of foreclosures is going to be the important part of turning the economy around. I think we now have an opportunity to do that.”
-- Rep. Barney Frank (D.-Mass.), House Financial Service, Chairman
Gold to Continue its Bull Run?
“The gold market is consolidating very nicely. Possibility to plop down to $908, but overall, the market is very good. We’re anticipating the market to do one of two options, we can consolidate through until the 12th of September and then make a breakout from the $957 level, or we can target the 21st of August and go for $1023.72, which if we break above that, will then signal the next part of the bull rally. ”
--Richard Morrish, MIG Investments, Head of Research
WaMu Increases Liquidity Position
“[Washington Mutual] posted more collateral with federal home loan bank. They have gone to the Fed discount window again, and they set up significant long-term repo funding. All of which has helped WaMu raise its liquidity position by 25 percent in a very short amount of time –- $40 to $50 billion.”
--David Faber, CNBC
Maria's Market Message
"Earnings from Amgen , Kraft and Dow component Verizon are among the catalysts for markets Monday morning, but it was better-than-expected news on the economic front that put stocks in positive territory at the end of the week."
--Maria Bartiromo, CNBC
The Week & You
“Some earnings reports actually looked encouraging. President Bush threw his support behind the financial rescue bill. And not even a hurricane could reverse the slide in oil prices. But a big sell-off toward the end of the week left trader wondering if the market had hit bottom.”
--Courtney Reagan, CNBC