Marketplace: Monday, July 19, 2004

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A look at today's markets (closing numbers)
DOW 45.72 (.45%) ; NASDAQ .68 (.04%) ; S&P 500 .49 (.04%)

Newscast Financial markets - here at home and around much of the world - were in something of a holding pattern on this July 19th. Everyone's waiting to hear what Fed Chairman Alan Greenspan might tell the Senate tomorrow about monetary policy. According to the Marketplace cheater's guide, 'monetary policy' is the use of interest rates to stimulate or cool down the economy--whichever seems more appropriate. And with lackluster economic reports last week, there's now a concern that the Fed Chief might be less inclined to raise interest rates as much or as rapidly as expected. Trash talk is usually reserved for professional sports. If you consider business to be a professional sport, then perhaps you won't find this next item unusual. At the air industry's big show in Farnborough England, Boeing's been predicting it will have 200 orders by the end of this year for its next generation supersized jet, the 7E7 Dreamliner. But the chairman of European arch-rival Airbus is quoted as saying "I've never seen an airplane where the market hype from the PR department is less in contact with the reality of the marketplace." Talking trash has become a part-time job for America's two biggest beer brands - Bud and Miller. The two rivals have turned up the rhetoric against each other of late--an indication of how competitive the industry has become. In a somewhat more civilized sign of increased competition there's word today that America's number 3 brewer--the Coors Company of Colorado--wants to merge with Canada's Molson. Listen to all newscast items

Features Watching Who Watches What Published reports today say at least two cable TV systems - Cox and Comcast - are in talks with media agencies about developing a new system to measure audiences. Wait a minute: isn't that what the Nielsens are supposed to do? Starting to get the picture? Q + A: David Brown, with Stuart Levine Related Story: Comcast and Cox Open Discussions With Media Agencies Freak of the Week - Chemical Brothers Support Marketplace: Purchase this music from Public Radio MusicSource Sock Wars (Yes, we said Sock Wars) Brassieres, furniture...wanna guess what's next to be at the center of a trade dispute between the U.S. and China? This week, the Bush administration is expected to announce whether it will consider a petition to cap imports of Chinese socks. Across the southeastern United States, some small towns have a lot riding on this petition. Reporter: Tanyo Ott Related Story: U.S. to impose tariffs on Chinese products 1983 - Incredible Moses Leroy Support Marketplace: Purchase this music from Public Radio MusicSource The Sky is Falling, The Sky is Falling You'd be surprised how few people know that the Commerce Department oversees the nation's weather service. When you think about it, it makes sense. Knowing the weather can be a critical factor in doing business. One of the more important tools is a satellite that measures tropical rainfall. It was only supposed to work for about 18 months--but after 7 years its still ticking. We've been lucky. But that good fortune is running out. The folks at NASA - who put the satellite into space - plan to let the bird fall to earth. Reporter: Hillary Wicai Related Story: NASA denies funding for key satellite Hercules - Mercury Rev Support Marketplace: Purchase this music from Public Radio MusicSource ... And Mrs. Edwards is sporting a silver gown, made by .... . Since we already know who'll get the nod at next week's Democratic shindig in Boston, the fun may be watching the red carpet. You know, the fashions. T-shirts, over the top hats, and oversized buttons. Not that the Republican conventions will rival a fashion show. Reporter: Julie Moody Space Girls - Soundscape UK Support Marketplace: Purchase this music from Public Radio MusicSource Summer. Kids. Planning. Arrrrgh. Today that virtual gauge of American retail activity known as 'Wal-Mart' reported that despite a retail slowdown, the back-to-school shopping season is off to a good start. That's consistent with the conventional wisdom that families tend to spend less in June and July, and more as September approaches. Oh really? Perhaps the purveyors of conventional wisdom have never had to keep the kids entertained over a long hot summer. Commentator: Sandra Tsing Loh Related Story: Kids' Summer Camps Cleaning Up Menus Sharp Little Guy - Mark Mothersbaugh Support Marketplace: Purchase this music from Public Radio MusicSource

Coming up on Marketplace... When good laws go bad?