U.S. stocks finished mixed on Monday on light trading volume and few corporate and economic headlines. In economic news, leading indicators for July rose 0.4%, in line with consensus. In corporate news, according to the London Sunday Times, American Express (AXP) has put its private banking business on the block, which could potentially be worth $400–$500 million. AXP fell 0.36%. Light crude oil deliverable in September fell to $71.09 per barrel. The DJIA rose 0.34%, while the S&P fell 0.01%.

Equity markets finished mixed following comments about rate cut speculation on Tuesday. In corporate news, shares of Capital One Financial (COF) added 2.71% after the company stated that it is closing its wholesale mortgage business and cutting 1,900 jobs. Bayer AG (BAY) gained 2.87% on renewed speculation that Novartis (NVS) was interested in acquiring the company. Light crude oil deliverable in September fell to $69.44 per barrel. The DJIA fell 0.23%, while the Nasdaq gained 0.51%.

Stocks rallied on Wednesday closing near session highs as takeover talk and bets that the Fed will cut interest rates next month cooled worries about the impact of the tightening credit market on the economy. In corporate news, Affiliated Computer Services Inc (ACS) fell 3.26% after the company reported fiscal fourth quarter EPS of $0.89, excluding one-time items, on revenue of $1.52 billion versus consensus of $0.88 and $1.50 billion, respectively. Analog Devices Inc (ADI) fell 2.25% after the company reported fiscal third quarter EPS of $0.37 on revenue of $680.3 million versus consensus of $0.36 and $672.9 million, respectively. Light crude oil deliverable in September fell again to $69.12 per barrel. The DJIA gained 1.11%, while the Nasdaq rose 1.25%.

On Thursday equity markets finished mostly lower as credit concerns continued and negative comments about the housing sector and its impact on the broader economy shook investor confidence. In economic news, initial jobless claims fell 2,000, to 322,000, versus consensus of 320,000, for the week ended August 18, 2007. In corporate news, Foot Locker (FL) rose 7.53% after the company reported a fiscal second quarter EPS loss of $0.12 on revenue of $1.28 billion versus consensus of $0.18 and $1.24 billion, respectively. Light crude oil deliverable in September rose to $69.72 per barrel. The DJIA was unchanged, while the Nasdaq fell 0.43%.

U.S. stocks finished higher on Friday with strong performance from the tech and energy sectors. In economic news, durable goods orders rose 5.9% in July, above consensus of 1.0%. New home sales in July rose 2.8%, to an annual rate of 870,000, above consensus of 820,000. In corporate news, Burger King Holdings Inc. (BKC) fell 3.45% despite reporting better-than-expected fiscal fourth quarter EPS of $0.29 on revenue of $590 million versus consensus of $0.27 and $580.4 million, respectively. BKC investor sentiment soured on news of a planned increase in capital spending this year that would limit its ability to buy back stock. Light crude oil deliverable in October rose $71.03. The DJIA gained 1.08%, while the Nasdaq rose 1.38%.

Equity markets finished in positive territory for the week despite continued credit concerns. Sentiment was lifted by recent central bank actions to increase liquidity and to use necessary monetary policy to stabilize the financial markets. For the week, the DJIA, S&P, and Nasdaq rose 2.31%, 2.33%, and 2.86%, respectively.