Tag: market news

U.S. jobless claims jump 16,000 to 357,000

Posted on by The INO.com Team

The number of Americans seeking unemployment benefits jumped by 16,000 last week, the second straight weekly increase. But the longer-term trend in layoffs remained consistent with an improved job market.

Applications increased to a seasonally adjusted 357,000 for the week ending March 23, the Labor Department said Thursday. That's up from 341,000 the previous week, which was revised slightly higher.

The four-week average, a less volatile measure, rose 2,250 to 343,000. Even with the gain, the average is only slightly higher than the previous week's five-year low of 340,750. Economists pay closer attention to the four-week average because it smooths out week-to-week fluctuations. Continue reading "U.S. jobless claims jump 16,000 to 357,000" →

A look at the eurozone's 5 bailouts

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Cyprus' bailout deal is the fifth agreed on so far in the 17-strong group of European Union countries that use the euro since the debt crisis began in late 2009.

Here's a look at the rescue programs:

GREECE - Greece has received two bailout packages from its eurozone partners and the International Monetary Fund. Its problems began in late 2009, when the government admitted that public debt was far higher than official statistics showed. That led it to accept a bailout package of 110 billion euros (worth $142 billion today) in May 2010. When it became clear that bailout was not enough _ because the economy kept weakening _ a second bailout was clinched in February 2012 for another 130 billion euros. That included a writedown on the value of Greek government bonds to lighten Athens' debt burden. Continue reading "A look at the eurozone's 5 bailouts" →

Average for U.S. jobless claims at fresh 5-year low

Posted on by The INO.com Team

The number of people seeking U.S. unemployment aid barely changed last week, while the average over the past month fell to a fresh five-year low. The decline in layoffs is helping strengthen the job market.

Weekly unemployment benefit applications rose just 2,000 to a seasonally adjusted 336,000, the Labor Department said Thursday.

Over the past four weeks, applications have dropped by 7,500 to 339,750. That's the lowest since February 2008, just three months into the recession.

Economists pay close attention to the four-week average because it can smooth out week to week fluctuations. The steady decline in unemployment claims signals that companies are laying off fewer workers. That suggests many aren't worried about economic conditions in the near future. Continue reading "Average for U.S. jobless claims at fresh 5-year low" →

U.S. adds 236K jobs, unemployment falls to 7.7 pct.

Posted on by The INO.com Team

A burst of hiring in February added 236,000 U.S. jobs and reduced the unemployment rate to 7.7 percent from 7.9 percent in January. The strong job growth showed that employers are confident about the economy despite higher taxes and government spending cuts.

The February jobs report issued Friday provided encouraging details: The unemployment rate is at its lowest level in four years. Job growth has averaged more than 200,000 a month since November. Wages rose. And the job gains were broad-based, led by the most construction hiring in six years.

The unemployment rate had been stuck at 7.8 percent or above since September. About half the decline in February occurred because more of the unemployed found jobs. A decline in the number of people looking for work accounted for the other half: People who aren't looking for jobs aren't counted as unemployed. Continue reading "U.S. adds 236K jobs, unemployment falls to 7.7 pct." →

Dow hits record, erasing Great Recession losses

Posted on by The INO.com Team

The stock market is back.

Five and a half years after the start of a frightening drop that erased $11 trillion from stock portfolios and made investors despair of ever getting their money back, the Dow Jones industrial average has regained all the losses suffered during the Great Recession and reached a new high. The blue-chip index rose 125.95 points Tuesday and closed at 14,253.77, topping the previous record of 14,164.53 on Oct. 9, 2007, by 89.24 points.

"It signals that things are getting back to normal," says Nicolas Colas, chief market strategist at BNY ConvergEx, a brokerage. "Unemployment is too high, economic growth too sluggish, but stocks are anticipating improvement."

The new record suggests that investors who did not panic and sell their stocks in the 2008-2009 financial crisis have fully recovered. Those who have reinvested dividends or added to their holdings have done even better. Since bottoming at 6,547.05 on March 9, 2009, the Dow has risen 7,706.72 points or 118 percent. Continue reading "Dow hits record, erasing Great Recession losses" →