Mid-day Update

Posted: December 3, 2007 at 1:45 pm by Chuck

Markets are in positive territory this morning on below average volume, decliners outpace advancers and more new lows than new highs. Oil is hovering just below $90 a barrel and the OPEC president says expectations are for oil demand growth in 2008 to stay at the same level as 2007.

Countrywide (CFC) CEO Mozilo on CNBC today saying that liquidity was becoming an issue for them. He wouldn’t comment on questions about continuing their dividend payments. Washington Mutual (WM) Chairman syas more rate cuts are needed as housing crisis is broader than subprime. I’ll have more on the WM story later.