US

US stocks rise after unemployment report

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NEW YORK (AP) — Stocks are rising after news that fewer people joined the unemployment line last week and word that a technology bellwether’s profit beat expectations. The Dow Jones industrial average is up 256 points, or 2.4 percent, at 10,972 at 11:45 a.m. in New York. The S&P 500 is up 30, or 2.8 percent, at 1,151. The Nasdaq is up 73, or 3.1 percent, at 2,454. For the first time in four months, the number of people filing for unemployment benefits for the first time fell below 400,000 last week. Analysts say it may be a sign that … Read more

S&’s yell ,”shark!”, and everyone runs into the water instead of out of it

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These days the headlines ‘calamity’, the ‘disaster”, ‘financial Armageddon’, and the”Titanic sinking” are used to describe what will happen if Congress refuses to pass the debt ceiling authorization in a timely manner.   If the U.S. government defaults on its sovereign debt obligations and other payment obligations, there will be an immediate downgrade of our trillions of dollars of debt to something less than AAA.  This will cause enormous upheaval and increased interest costs, thus exacerbating the already enormous burden of debt the country shoulders.  These events could lead to an uncertain chain reaction of cascading financial upheavals around the world; … Read more