Jobless Claims, Inflation, Trade Deficit Each Surge Higher
New U.S. claims for jobless benefits rose last week, hardening the view the central bank will pump more money into the economy, and keeping pressure on Democrats poised to lose congressional seats in Nov. 2 polls.
At the same time, record-high imports from China helped push the U.S. trade deficit wider in August, while rising food and energy prices pushed inflation at the wholesale level up twice as fast as expected last month.
Read More – http://www.cnbc.com/id/39666662
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Applications for jobless benefits rise to 462K
WASHINGTON (AP) — More people applied for unemployment benefits last week, the first rise in three weeks and evidence that companies are reluctant to hire in a slow economy.
Initial claims for unemployment aid rose by 13,000 to a seasonally adjusted 462,000, the Labor Department said Thursday. It was only the second rise in two months.
Read More – http://finance.yahoo.com/news/Applications-for-jobless-apf-647526260.html?x=0&.v=2
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September home foreclosures top 100,000 for first time
Banks foreclosed on 102,134 properties in September, the first single month above the century mark, RealtyTrac said. There were 347,420 total foreclosure filings in September, 3 percent higher than August and 1 percent higher than a year earlier.
Read More – http://www.reuters.com/article/idUSTRE69D0SF20101014
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Dollar tanks, stocks drop as Bernanke speech looms
LONDON – European and U.S. stock markets mostly fell Thursday as investors awaited a speech from the Federal Reserve chairman that is expected to give more clarity on what the central bank is planning to do to prop up the ailing U.S. economy.
However, the prospect of more dollars floating around the system continued to pile the pressure on the currency itself.
Read More – http://news.yahoo.com/s/ap/20101014/ap_on_bi_ge/world_markets_23
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Dollar hits fresh 15-year-low against yen
TOKYO – The dollar fell to a fresh 15-year-low against the yen in Tokyo on Thursday amid growing speculation that the U.S. Federal Reserve will ease monetary policy next month.
Read More – http://news.yahoo.com/s/ap/20101014/ap_on_bi_ge/as_japan_dollar
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The longest-tenured writer at BizPac Review, Tom grew up in Maryland before moving to Central Florida as a young teen. It is in the Sunshine State that he honed both his passion for politics and his writing skills.
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