They know precisely who does trade with the West, so we do not expose these companies to any particular risk. The European Union ministers decided to have the Commission draw up the positive list of companies last April when they lifted their ban on air flights to Yugoslavia. At the same time they added additional names to a list of some 800 Yugoslavs who are banned from traveling to the European Union because of their connections to the Yugoslav and Serbian governments. But stock prices moved higher, boosted by some positive economic news. The Standard and Poor's 500 index went up 14 points.
Trading is now officially into the second half of the year.
The Dow Industrials, on the other hand, are about five percent lower for the 12-month period, and down around eight percent for the year. Many Americans are away at beaches this week, and activity on Wall Street is expected to be below normal. Well, I think it's a big vacation week. So I think on a relative basis it will be somewhat quiet. But we'll look for the employment numbers on Friday as the next clue to whether the six Fed interest rate hikes are doing the job in controlling inflation and making sure supplies are able to catch up with the strong demand.