On Friday October 7th, the US Labor Department released last month’s unemployment data. At first glance the data looked surprisingly better than what economists had been predicting but under closer inspection that wasn’t the case. The US added roughly 103,000 jobs in September, which surpassed the 50,000 – 60,0000 jobs that were expected. However, included [...]
For the first time in history, the average rate on a 30-year fixed mortgage has fallen below 4%. This week the 30-year dropped to 3.94% and the average 15-year declined to 3.26%. Mortgage rates have been on the decline in 2011 as they track the slide in the 10-year Treasury yield. Fear and uncertainty surrounding [...]
In the last forty-five minutes of trading yesterday, October 4th, the Dow Jones Industrial Average rallied almost 400 points and the S&P 500 gained 45 points. It was quite a rally, especially due to the fact that the markets were trading at 52 week lows earlier in the day. The late day surge came after [...]
CUPERTINO, Calif. – Steve Jobs, the Apple founder and former CEO who invented and masterfully marketed ever-sleeker gadgets that transformed everyday technology, from the personal computer to the iPod and iPhone, died Wednesday. He was 56. Apple announced his death without giving a specific cause. He died peacefully, according to a statement from family members [...]
American Airlines, the fourth largest airline in the world, might be headed for bankruptcy. Shares of American Airlines parent AMR Corp. (AMR) plunged on Monday, closing down on the day 33% at $1.98, its lowest level in eight years. American Airlines is considered to be in the weakest financial position of all major carriers in [...]
IIn the past decade, the world has come to rely on China as the global engine for economic growth. Which is why many investors are worried about new signs that the Chinese economy’s expansion is slowing down. Last week the HSBC Purchasing Manager’s Index, a key gauge to Chinese manufacturing, came in below 50 for [...]
Over this past weekend, finance leaders from around the world met in Washington to discuss the global economic state of affairs. At this meeting European ministers said that they would take bolder steps to fight the sovereign debt crisis, which is plaguing the global economy. A focal point for the European officials is stabilizing European [...]
Imagine this scenario … The largest economy in the world is on the brink of a financial meltdown that could make the debt debacle of 2008 seem small by comparison. Its giant banks are buried in bad loans and vulnerable to failure. Its central government is paralyzed. Chaos looms. A Desperate Meeting One weekend, in [...]
As the economic turmoil intensified throughout the world in the past few months, gold prices have risen dramatically. From the beginning of July to the beginning of September, gold’s value jumped about 27%. Yet, in just the past week, gold prices have dropped from about $1,835 to $1,643. This has many investors confused as the [...]
The prices of Gold & Silver fall in world markets leading to Silver touching a low of $30 down 18% & Gold touching a low of $1630 in international markets In Indian Markets Silver created low of Rs.52,600 while in down circuit of 15% whereas Gold was Gold broke Rs.26,000 This fall was in continuation [...]
