EYE FOR ART LIKELY TO PAY OFF

27 Aug '08 6:39 pm

You can add this to your "why-doesn't-this-ever-happen-me" laments.

Last year, a Dallas couple bought a painting for $25 in a secondhand store. Turns out the painting, "Wild Flowers with White Coral," was by a famous Australian modernist, Grace Cossington Smith. It's expected to sell at auction today in Melbourne for $30,300 to $38,900.

OUR ATTITUDES ARE IMPROVING

A private research group will release its survey of consumer confidence Tuesday -- an indicator of how consumers view the economy and its future prospects. Analysts are calling for the Conference Board's index to improve from last month.

Consumer attitudes, along with consumer spending, are among the biggest drivers of the stock and bond markets. They also point to how consumers might behave in the near future, which in turn can help predict economic health. The University of Michigan's consumer sentiment survey, which questions 500 households each month on their financial states and attitudes about the economy, is to be released Friday.

SMITHFIELD EARNINGS

Smithfield Foods, the nation's largest hog producer and pork processor, is expected to swing to a loss in its fiscal first quarter when it reports earnings Tuesday.

Analysts say the sector's growth will be tempered in the near term by a stronger dollar and excess frozen meat inventory. The segment's margins are already being cut by rising commodity costs and an oversupply of meat on the market. But news that the nation's corn production is improving could help the segment; higher production could lower grain prices and ease costs for meat producers.

Other earnings this weekend include Dell, Sears Holdings and Tiffany & Co.

All rights reserved. This copyrighted material may not be published, broadcast or redistributed in any manner.