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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| October 04, 2004 | COPYRIGHT 2004 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

G-7 finance ministers discuss oil

The finance ministers and central bankers, meeting in Washington, D.C., were expected to discuss the causes and impact of swelling oil prices. Britain's Chancellor of the Exchequer Gordon Brown said high oil prices could hurt corporate profits and consumer spending.

** Fed chief Alan Greenspan, in an Oct. 1 letter to Sen. Carl Levin, D-Mich., said he's "deeply concerned" Congress would try to thwart efforts by the Financial Accounting Standards board to require expensing of stock options.

** Chicago Dec. gold futures swelled 80 cents to $421.20 a troy ounce, the highest since mid-April. In overnight trading Thursday it stretched as high as $421.90.

** The University of Michigan's revised consumer sentiment gauge for Sept. was 94.2 vs. 95.9 in Aug.

Japanese sentiment posts gain

The Bank of Japan's tankan quarterly diffusion index of business confidence among large manufacturers rose to a 13-year-high of 26 in Sept. from 22 in June. ...

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