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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 29, 2009
Page
16
Stocks rose as oil and other commodities signaled stronger demand while solid Treasury debt auction eased fears of higher long term rates. The Dow advanced 103.78 to 8403.80, the S&P 500 gained 13.77 to 906.83, and the Nasdaq climbed 20.71 to 1751.79.
Freddie Mac reported higher average 30 year fixed rates at 4.91 percent this week from 4.82 percent last week. The 15 year fixed rate rose to 4.53 percent from 4.50 percent, while five year ARMs edged to 4.82 percent from 4.79 percent and one year ARMs fell to 4.69 percent from 4.82 percent. Oil near 65 a barrel as OPEC holds output and economy hints improve.
Ryan Companies US Inc. chief executive Jim Ryan, 66, died after a 10 month fight with melanoma. He helped grow the Minnesota based firm into a leading design-build developer with offices across multiple states. Survived by wife Colleen and children Molly, Maggie, Kate, Tim, Nell, Dan, Sean, Tess, and six grandchildren.
The Ceramic Center, a new Cedar Rapids facility in the Cherry Building at 329 10th Ave SE, will offer classes starting July in a 3,000-square-foot loft. Iowa Art Works plans long term studio space for ceramic artists, with kilns and varied forms taught, while aiming to operate 12 hours daily five days a week and sustain the center through grants, fees, and annual fundraising sales.
In its 10th year Geonetric Inc led by Eric Engelmann pivots to secure patient portals linking patients with providers. The Cedar Rapids firm aims to let patients log in view personal data and communicate with their health team, expanding beyond traditional paper records.
U S economy shows cautious hope as initial unemployment claims fall to 623000 last week while housing and mortgage markets deteriorate. Forecasters warn unemployment may rise to about 10 percent by year end and foreclosures spike among even creditworthy homeowners.
The piece urges young workers to invest summer earnings rather than spend on games and music. It highlights automatic withdrawals, low minimum funds like the Monetta Young Investor Fund, and online options such as ShareBuilder com. It notes Roth IRA contributions up to 5000 dollars annual and long term tax advantages.
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