Hiring is Still Slow and Wal-Mart Faces Bribery Allegations: Market Recap
U.S. stocks advanced today, as the S&P 500 broke its two-day losing streak. Investors are awaiting a report on employment growth that will be released tomorrow.
Oil: +0.97% to $94.41 per barrel Gold: +1.02% to $1,412.80 per ounce U.S. 10-Year: -0.012 to 2.077%
5 Signs the American Consumer is on Life Support: The Great Recession technically ended in the summer of 2009, as gross domestic product rebounded from the bottom and started to expand. However, to any American not looking at the textbook definition, the recession is still alive and well… (Read more.)
Layoffs May be Slowing, But When Will Hiring Accelerate?: The picture of the health of the job market that is slowly emerging from recently released economic data is one that has made marginal improvements since April. While employment gains were disappointingly low at 135,000, ADP’s National Employment Report showed Wednesday that nonfarm payrolls added slightly more jobs last month than in the previous month… (Read more.)
Optimism at the Zero Bound: Draghi Stays Positive: The Governing Council of the European Central Bank concluded a regular policy meeting on Thursday. The ECB Governing Council, presided over by Mario Draghi, is responsible for determining monetary policy. The bank is explicitly tasked with maintaining the purchasing power of the euro and promoting financial stability and integration across the euro zone… (Read more.)