New US Jobless Claims Falls to 631K
The US Labor Department announced today that the number of new jobless claims for last week dropped to 631,000 from 634,000 the previous week bringing the total number of people receiving to nearly 6.7 million people. More
Market Optimism Fades After Fed Downgrades Projections
Markets in Asia and Europe turned decidedly downwards after yesterday’s move by the Federal Reserve to downgrade its earlier growth predictions for the US economy. The Nikkei index in Japan fell 1 percent while in London, the FTSE 100 and Germany’s Dax retracted 2.1 percent and 1.5 percent respectively. More
S&P Downgrades UK Debt Rating
The Standard & Poor’s debt rating agency has downgraded Britain’s debt rating from “stable” to “negative” due to increased borrowing by the government to fund its economic stimulus plans and to provide operating funds to avert a full-fledged banking crisis. More
Bad News Gives Pause to Oil Investors
After breaking through the $60 a barrel resistance level and holding at $62 a barrel, crude prices fell back to under $61 dollars Thursday. Crude oil of July delivery fell $1.23 a barrel to $60.81 by by midday trading in Europe. More
