leading index declined for the eighth consecutive month in June, led by large declines in new orders in investment goods industries and stock prices. During the first half of 2008, the leading index declined by 5.2 percent (about a -10.1 percent annual rate), well below the 2.4 percent annual rate of decline for the second half of 2007. Additionally, the weaknesses among the leading indicators have remained very widespread in recent months.

-- The coincident index, a measure of current economic activity, increased slightly in June after declining in May. Manufacturing sales made the largest positive contribution to the index, more than offsetting a decline in retail sales. Over the past six months, the coincident index increased by 0.6 percent (about a 1.3 percent annual rate), well below the 1.8 percent annual rate of growth which prevailed during the previous six months. In addition, the strengths and weaknesses among the coincident indicators have been roughly balanced in recent months.

-- The leading index has been declining since July 2007 and the coincident index has remained essentially flat since January 2008. At the same time, real GDP grew at a 1.5 percent average annual rate for the first two quarters of 2008 (including a -2.0 percent annual rate during the second quarter), slightly below the 1.9 percent average annual rate for the last two quarters of 2007. The recent behavior of the composite indexes suggests that economic growth will be sluggish in the near term, and that risks for further weakness going forward remain elevated.

LEADING INDICATORS. Two of the seven components in the leading index increased in June. The positive contributors to the leading index -- in order from the largest positive contributor to the smallest -- are inventory change series* and gross enterprises and properties income*. Negative contributors - - in order from largest to smallest -- are new orders in investment goods industries, stock prices, new residential construction orders* and yield spread. Consumer confidence remained unchanged in June.

With the 1.1 percent decrease in June, the leading index now stands at 93.7 (1990=100). Based on revised data, this index declined 1.0 percent in May and declined 0.5 percent in April. During the six-month span through June, the leading index decreased 5.2 percent, with two of the seven components increasing (diffusion index, six-month span equals 28.6 percent).

COINCIDENT INDICATORS. Three of the four components that make up the coincident index increased in June. The positive contributors to the coincident index were manufacturing sales, employed persons, and industrial production. Retail trade declined in June.

With the 0.1 percent increase in June, the coincident index now stands at 110.9 (1990=100). Based on revised data, this index decreased 0.2 percent in May and increased 0.2 percent in April. During the six-month period through June, the coincident index increased 0.6 percent, with two of the four components increasing (diffusion index, six-month span equals 50.0 percent).

Website:  http://www.conference-board.org/economics/bci/

2007. The indices measure the change in commercial real estate prices by property sector and geographic region in the United States. The S&P/GRA Commercial Real Estate Indices comprise ten commercial real estate indices: a national composite, five geographic regions, and four national property sectors.

The National composite reported an annual price appreciation of +3.6%, versus May of 2007, up from the +3.1% reported in April's data. While this is a modest improvement from last month's report, it is still well below this cycle's peak of +14.5%, reported in June of 2006.

The National composite posted its highest monthly return so far this year, returning +0.7% in May versus April. Three of the five regions -- the Midwest, the Northeast and the Pacific West -- reported relatively positive results, as their annual growth rates showed improvement over last month. Four of the regions reported positive monthly returns, while the Desert Mountain West was down for the month. After reporting three consecutive positive months, the Desert Mountain West reported the largest price decline in the May/April period returning -1.0%. The Mid Atlantic South performed the best during the May/April period, returning +1.9%. Over the past 12 months, the Pacific West has the highest return of +7.2%.

In the property sector, two of the four sectors reported positive returns over the May/April period. Office had the biggest gain for the second straight month, reporting a one-month return of +1.7% in May. Apartments, up 0.6% for the month, reported the highest annual return, +5.8%, but this is a marked deceleration from the +7.7% reported just two months ago. Retail has the lowest returns over the past year, returning +0.5%.

"This month's numbers offer some encouragement", says David Blitzer, Managing Director and Chairman of the Index Committee at Standard & Poor's. "The results for commercial real estate were slightly positive for the month. The National composite was up 0.7% for the month and is up 3.6% from May 2007, an improvement over the +3.1% annual gain reported for April's figures. Only one of the regions and two of the property sectors saw price declines during the May/April period. One region, the Desert Mountain West, is reporting a decline over the past year, returning -1.9%. The Mid Atlantic South and the Office sector were standouts for the month, returning +1.9% and +1.7%, respectively. It will take a few more months of data to determine if commercial real estate is ending its two-year period of growth deceleration or is this just a temporary seasonal bounce."

The S&P/GRA Commercial Real Estate Indices are published on the second to last Tuesday of each month at 9:00 am ET. They are calculated to reflect underlying real estate and capital market fundamentals by measuring the change in commercial real estate prices by property sector and geographic region. Reported index values are based on a three-month rolling average transaction price per square foot, and are computed using a stock value, or market capitalization-weighted, methodology. This approach utilizes average transaction prices per square foot and commercial real estate stock data to derive index levels.

To be eligible for inclusion, property sales must be identified as closed transactions in the defined commercial real estate regions and sectors. Closed commercial transactions are those where the escrow has closed and the title has been transferred to the new owner. There are no transactions included in the index that are appraisals, just listed, sales pending, or in escrow.

The indices are maintained and published under agreements between Standard & Poor's and GRA/Charles Schwab Investment Management (CSIM).

2008. Following suspension, application will be made to the Securities and Exchange Commission to delist the issue.

The NYSE said it normally considers suspending the securities of a company when the number of outstanding shares is less than 600,000. As a result of the completion by Smith International of the initial tender (that expired at 12 AM, New York time on August 18, 2008) in connection with its offer to purchase all of the outstanding common shares of W-H Energy, which it already did not own, fewer than 600,000 common shares are expected to remain publicly held.

The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.

companies have approved the proposed merger of CME Group and NYMEX Holdings, Inc. based on a review of the proxies voted at today's special meetings by the parties' respective proxy solicitors. In addition, preliminary results also show that NYMEX Class A members have voted to approve the related proposals in a separate member vote.

"We are pleased that shareholders of both exchanges have given their support for this transaction," said CME Group Executive Chairman Terry Duffy. "The addition of NYMEX to CME Group creates an even stronger international company as we continue to grow our business globally and compete with exchanges and the over-the-counter market. The combination of these exchanges will create immediate and long-term value for our shareholders and customers as we are now the only exchange to offer access to every global benchmark product. On behalf of CME Group's Board of Directors, I want to thank the shareholders, members and hard-working employees of both exchanges for their support throughout this process."

"Today's votes bring us one step closer to combining our two great exchanges which will allow us to deliver more value to our customers and shareholders,"

said NYMEX Holdings, Inc. Chairman Richard Schaeffer. "We look forward to building on our shared legacies through product innovation and industry leadership to capitalize on the terrific growth opportunities we see in this global marketplace."

"We are very pleased that our shareholders, members and customers have overwhelmingly supported and approved the combination of our two great companies," said Craig Donohue, CME Group Chief Executive Officer. "Today's approval provides us with tremendous new global growth opportunities in both listed and over-the-counter derivatives markets, and further enhances CME Group's leading position in global financial markets. Following the closing of this transaction, which we expect to occur this Friday, we will begin executing our detailed integration plan to achieve significant cost synergies and operational efficiencies for our shareholders and customers. We also look forward to building our presence in New York City to support growth across all CME Group businesses."

"We appreciate the support from our shareholders and members for combining these two great organizations. Our focus now is on further integrating our organizations and building on the success of our 2006 transaction processing agreement for continued growth and innovation," said NYMEX Holdings, Inc.

Chief Executive Officer James Newsome.

The companies anticipate the transaction to close on Friday, August 22. The combined companies will provide customers around the world with access to all major benchmark asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals.

and socialize with some of the best traders and money managers in the world, including: Larry Connors, Victor Sperandeo, Gil Morales (former head trader for Bill O'Neil), Kevin Haggerty (former head of trading for Fidelity Capital Markets), Steve Nison, Michael Covel, Tim Ord, Gary Kaltbaum, Jon Najarian, AJ Monty (of Market Guys), Bennett McDowell, Kathy Lien, Raghee Horner, Bill Kraft, Larry Pesavento and many more.

Through interactive workshops and informal social gatherings, attendees will have an unparalleled opportunity to gain knowledge and strategies to help them become more successful traders.

To register and for more information, go to: www.TradingMarkets2008.com.

leading index declined for the eighth consecutive month, primarily as a result of large declines in the stock market and industrial new orders components. New unemployment claims (inverted) continued to be the largest positive contributor to the index in the last two months. Since December, the leading index has declined by 1.8 percent (about a -3.7 percent annual rate), well below the 0.5 percent annual rate of decline that prevailed during the last half of 2007. In addition, the weaknesses among the leading indicators have remained very widespread in recent months.

-- The coincident index remained unchanged in June, and index levels were revised slightly downwards between February and May as new quarterly data became available for the wages and salaries component. During the last six months, the coincident index increased by 0.2 percent (about a 0.5 percent annual rate of growth), which is well below the 1.5 percent annual rate of growth that prevailed during the last half of 2007. In addition, the weaknesses and strengths among the coincident indicators have been balanced in recent months.

-- The leading index has been declining since October 2007, and the weaknesses among its components have become very widespread throughout this period. The decline in the leading index has been the largest since mid-2001. The growth of the coincident index, a measure of current economic activity, has slowed down in recent months compared to the rapid growth of the first half of 2007. Meanwhile, real GDP growth slowed to a 0.2 percent average annual rate in the first half of 2008 (including a 1.2 percent annual rate of decline in the second quarter), well below the 2.1 percent average annual rate of growth in the second half of 2007. The recent behavior of the composite indexes suggests that economic growth will remain weak in the near term.

LEADING INDICATORS. Two of the seven components of the leading index increased in June. The positive contributors to the index -- in order from the largest positive contributor to the smallest -- are the inverted new unemployment claims (inverted), and the yield spread. The negative contributors to the index -- beginning with the largest negative contributor -- are the stock price index, industrial new orders, building permits (residential), production expectations, and the ratio of the deflator of manufacturing value added to unit labor cost for manufacturing*.

With the decrease of 0.2 percent in June, the leading index now stands at 127.4 (1990=100). Based on revised data, this index declined 0.5 percent in May and declined 0.2 percent in April. During the six-month span through June, the leading index decreased 1.8 percent, and one of the seven components increased (diffusion index, six-month span equals 14.3 percent).

COINCIDENT INDICATORS. One of the four components of the coincident index increased in June. The only positive contributor to the index was employment*. Industrial production, personal consumption, and wage and salaries* all declined in June.

With the coincident index remaining unchanged in June, the index now stands at 123.4 (1990=100). Based on revised data, this index decreased 0.1 percent in May and increased 0.1 percent in April. During the six-month period through June, the coincident index increased 0.2 percent, with two of the four series making a positive contribution (diffusion index, six-month span equals 50.0 percent).

compilation of state industry published annually by Manufacturers' News, Inc. (MNI), Evanston, IL. The Register reports Nebraska shed 1,228 industrial jobs from June 2007 to June 2008, the first loss MNI has reported for the state in recent years.

According to earlier MNI reports, Nebraska saw a 1.5% increase in industrial employment between June 2005 and June 2006, and then gained another 1,000 manufacturing jobs in the 2006-2007 survey period.

"Outsourcing, consolidation and automation have taken their toll on manufacturing employment," says Tom Dubin, President of Manufacturers' News. "Ironically, the jobs that remain are so specialized and highly skilled that some manufacturers are having difficulty finding qualified applicants."

Manufacturers' News reports Nebraska is home to 3,063 manufacturers employing 128,562 workers. Nebraska's employment loss falls in the middle when compared to other Midwest/Plains states. According to earlier MNI reports, the Midwest experienced heavy losses, while many of the Plains States posted gains with Kansas' industrial employment up 1.5%, Wyoming's up 3% and the Dakotas' up a combined 4.8%.

According to the industrial directory, food products manufacturing is Nebraska's largest industrial sector, accounting for 36,980 jobs. MNI reports food manufacturing jobs are down 2.6% over the year, partially due to the closing of a Tyson prepared foods plant in York and Affinity Snack Food Co. Weaver potato chip and snack manufacturing plant in Lincoln. The industrial machinery and equipment sector represents 13,968 of the state's jobs, up a half percent over the past twelve months. Fabricated metal products manufacturing employs 10,331 Nebraska workers, up 463 or 4.7% over the year. Transportation equipment manufacturing also gained jobs over the year, up 711 or 8% since June 2007, partially due to Kawasaki's expansion of its Lincoln rail car plant.

Sectors losing jobs include textile/apparel, down 9%; lumber and wood, down 2.7%; furniture/fixtures, down 14%; printing and publishing, down 6.6% and rubber and miscellaneous plastic products, down 4.5%. Electronics manufacturing was down 1% after Powermate Corp., a manufacturer of portable generators and air compressors, closed its Kearney-based plant.

The manufacturers directory reports Southeast Nebraska accounts for 70% of the state's industrial employment, with 89,403 jobs, down 1.9% or 1,767 over the past twelve months. Northeast Nebraska accounts for 27,405 jobs, with industrial employment up by 244 jobs or 1% over the year. Southwest Nebraska is home to 8,646 workers, down 94 or 1.1%, while the Northwest region of the state is down 111 jobs or 3.4% and currently accounts for 3,108 of the state's industrial workers.

MNI's city data shows Omaha is Nebraska's industrial capital with 33,898 of the state's manufacturing jobs, or 26% of the state. Lincoln ranks second in the state with 19,400 jobs, up 4.4% or 814 jobs over the year. Grand Island ranks third in the state with 7,821 jobs, down 130 or 1.6% over the past twelve months while fourth-ranked Columbus increased industrial employment by 1.4% and is currently home to 5,959 workers. Hastings is home to 3,735 industrial workers, down 3.9% over the past twelve months.

Detailed profiles of Nebraska's 3,063 manufacturers and 518 industrial distributors can be found in the 2009 Nebraska Manufacturers Register, available in print for $86 and on CD-ROM from $119. Each profile provides up to 30 facts, including vital contact information (phone, web, e-mail), names and titles of 10,014 executives by name and title, product(s) manufactured, annual sales, number of employees, and more. Visitors to mnileads.com may generate custom profiles of manufacturers using thirteen different criteria, including area or zip code, county, SIC, sales volume, number of employees, and more.

of the world's most dynamic sectors. These new indexes are a continuation of NASDAQ OMX's commitment to designing and calculating world-class indexes. The NASDAQ OMX Global Sector Index Series is the latest series of indexes launched by NASDAQ OMX Global Financial Products (GFP).

The Global Sector Series is initially focusing on the following four sectors:

The NASDAQ OMX Global Biotechnology Index(sm) (Nasdaq:QGBI) is a modified market-capitalization weighted index designed to track the performance of the largest and most liquid companies engaged in the biotechnology sector;

The NASDAQ OMX Global Coal Index(sm) (Nasdaq:QCOL) is a modified market-capitalization weighted index designed to track the performance of the largest and most liquid companies engaged in the exploration for, mining of and other related activities for coal;

The NASDAQ OMX Global Steel Index(sm) (Nasdaq:QSTL) is a modified market-capitalization weighted index designed to track the performance of the largest and most liquid companies engaged in the manufacturing and storage of iron and steel products; and

The NASDAQ OMX Global Gold & Precious Metals Index(sm) (Nasdaq:QGLD) is a modified market-capitalization weighted index designed to track the performance of the largest and most liquid companies engaged in the gold, silver and other precious metals mining industries.

"These new NASDAQ OMX indexes will help international investors better manage their exposure to these increasingly important global sectors," said NASDAQ OMX Executive Vice President John Jacobs. "Their introduction underscores our commitment to providing investors with relevant, objective rules-based indexes."

The indexes will be calculated in real-time across the combined exchanges and will be disseminated in dollars. The indexes will begin calculating on August 18, 2008 with a value of 250.00.

far in the month of August to 8,239,000 tonnes, which represents around 8 % of the total traded market volume and 16 % of the total exchange trading (OTC clearing excluded).

“Together with the strong interest in the new Spot CER contract, this new record, while many member states are yet to allocate their EUAs, points to the growing importance and liquidity in the spot market.” declared Andrei Marcu, CEO of BlueNext.

BlueNext, the Paris-based environmental exchange is a partnership between NYSE Euronext and Caisse des Dépôts. BlueNext offers a range of products all listed on the same trading platform including BlueNext Spot EUA 2008-2012, BlueNext Spot CER, BlueNext Futures EUA and BlueNext Futures CER.

For more information log on www.bluenext.eu