Inflation is the top topic today:

Fed Chairman Ben Bernanke is in from of the Senate Banking Committee today and it appears that inflation will be on everyone minds. The CPI was released earlier today and showed an expected 0.2% increase for the month and is now up 4.3% year over year. The surprise is that core inflation was up more than expected coming in 0.3% for the month of June and is now up 2.7% year over year. This pretty much puts the icing on the cake for an increase in interest rates on August 8th.

Yahoo released quarterly earning and they were in line with expectations, but the company announced a delay in the eagerly awaited update to tier ad placement program moving the launch out to next year. The investor disappointment has shaved $6.00 off the share price and it still looks expensive.

Falconbridge shareholders should be selling as the takeover companies are yelling.

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