Thursday, July 7, 2011

Economy Report for July 7, 2011

Family fights government over rare ‘Double Eagle’ gold coins

Jobs reports push US stocks higher at the open
Private sector hiring.

Fewer people sought unemployment aid last week
Private sector improving.

Retailers post strong June sales
Private sector improving.

Rate on 30-year fixed mortgage rises to 4.60 pct.
More indicators that interest rates will go up.

Lawmakers visit White House for budget talks
50/50 chance Republicans will stop the spending and not raise the debt ceiling limit.

Obama puts Medicare, Social Security cuts on the table

Obama, Boehner discussed broad deficit deal: aide

Oil prices rise on positive employment reports
Spin, oil went down temporarily because Obama released oil reserves, designed for an emergency, for political gain by lowering prices for the 4th of July.

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