Despite Uptick, Unemployment Rate Still Trending Lower
You Know Inflation’s a Problem When the Cereal Box Gives Away Gas Cards
Elections are important, maybe even the cornerstone of a democracy; but sometimes voters are just too busy to listen to everything being said by the Obama or Romney camps. Thank heaven sound bites can sum up everything we think we need to know.
Here are some recent tidbits from Capitol Hill:
The U.S. Department of Labor recently said that unemployment plummeted in September to 7.8%—the first time the rate dropped below eight percent since February 2009. (Source: “Employment Situation Summary,” Bureau of Labor Statistics, October 5, 2012.)
Where Next Now That Mondays Precious Metals and Equity Prices are Marked UP?
Last week's employment report has dominated the business, financial, and political news over the weekend. With no action expected from Congress, attention will focus on the Fed. Since Chairman Bernanke will testify before the Congressional Joint Economic Committee on Thursday, we will soon have an update on Fed thinking.
Mark Thoma raises the policy question and provides helpful context.
More than 200,000 long-term jobless Americans will lose their unemployment checks this week, when eight states roll off the federal extended benefits program. Nearly half of them live in California, and the rest reside in Florida, Illinois, North Carolina, Colorado, Connecticut, Pennsylvania and Texas.
The June crude oil market rallied every day last week. The market put in higher lows and higher highs on a daily basis after it tested the support trendline (#3 on the chart) last week on Monday morning. Any technical trader would say last week had all of the necessary ingredients for a bull run.
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House passes payroll tax cut, jobless benefit bill
The GOP-controlled House has passed a bill renewing a payroll tax cut for 160 million workers and jobless benefits for millions more, backing the main items on President Barack Obama's jobs agenda in a rare burst of bipartisanship.
The bill passed Friday, 293-132. The Senate is expected to quickly follow and send the measure to Obama to sign.
Could Oil Prices Intensify a Pending S&P500 Selloff?
Last week we received reports that the unemployment rate in the United States was improving markedly. In addition, sentiment numbers were released that confirmed my previous speculation that market participants were becoming more and more bullish as prices in the S&P 500 edged higher.
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QKL Stores Inc. (Nasdaq:QKLS) announced the opening of one hypermarket in Jilin Province and one supermarket in Inner Mongolia. The Company's 52nd store, situated in Da'an city, Jilin Province, was opened on September 28th, 2011.
QKL Stores Inc., through its subsidiaries, operates retail chain stores in the Peoples Republic of China.