Analysts may have talked a good game, but in their hearts they knew the Friday jobs report from the U.S. Department of Labor Statistics would be bad news. They were not surprised. Wall Street dealt with the staggering numbers with relative ease as the dollar slumped and the euro moved higher in early morning trading.
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Categories: Euro, General, Gold Tags: average, business, despite-the-non, euro, goldman-sachs, jobs, knew-the-friday, obama, private, unemployment
According to the ADP National Employment Report, 42,000 private sector jobs were added in July as the Mortgage Bankers Association said financing applications for the purchase of residential real estate rose. Bankers attributed much of the rise to favorable mortgage rates The application rate increased by 1.3 percent in year-over-year comparisons.
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Categories: Economy, General, Recession Tags: 2009 stimulus package, consumer confidence, economy, expiration, government, housing, industry, interest-rates, loans, modification, mortgage, recession
Every Thursday, CNBC stands on ceremony to reveal the Department of Labor’s exciting weekly unemployment report. If you have witnessed the spectacle once, say a year ago, and you listened to today’s ceremony, you would not see, hear or feel much difference. After all, baloney is baloney.
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Equity markets in the U.S. appeared ready to post solid gains for the fourth straight day. Buoyed by stellar quarterly earnings from Dupont and other major U.S. companies, the DOW appeared ready to post another triple digit gain. Historically, the DOW has never had four straight days of triple digit gains.
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Categories: Euro, General Tags: climbing, consumer, division-posted, dupont, equities-posted, euro, europe-climbing, philipp-musil, strong-sales, swiss
Federal Reserve Chairman Ben Bernanke fought off numerous queries from a serious, agenda-filled Senate Banking Committee and sent U.S. equity markets into a steep fall on Wednesday. Media coverage quickly picked up on Bernanke’s “unusually uncertain” capsulization of the economy and used this phrase to characterize the Fed’s position regarding the strength and direction of the U.S. economy.
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Categories: Economy, Euro, General, Recession Tags: chairman, cpi, ecb, economy, employment, european central bank, france, gdp, manager, recession, weapons