Markets rise as Dow gains after jobs data and oil drop
Wall Street closed a volatile week higher as the Dow Jones Industrial Average rose over 146 points fuelled by a solid jobs report and a retreat in oil prices. Analysts cited resilience amid terrorism concerns and oil shocks after the London attacks.
MENTIONED IN THIS ARTICLE
Wall Street
Dow Jones
London
Russ Koesterich
Barclays Global Investments
San Francisco
Borrowing Rate Drops as May Borrowing Falls
U.S. consumers cut overall borrowing by 3 billion in May from April, the first drop in 18 months, with nonrevolving credit down 37 billion and revolving credit, mainly credit cards, rising after declines in March and April. The Federal Reserve noted no housing debt in the report.
MENTIONED IN THIS ARTICLE
Federal Reserve
Fed
Finance HAR Block to miss annual report deadline
HAR Block, Kansas City, said it will miss the SEC annual report deadline to restate 2003 and 2004 earnings and delay first quarter results to Sept 1, seeking extension to July 29. Shares closed at 59.08, within a 12 week range of 45.13 to 55.60. Footstar and Kmart pact over Shoemart shoe operations may cut future claims and assign payments.
MENTIONED IN THIS ARTICLE
HAR Block
New York Stock Exchange
Footstar Inc
Kmart Corp
Kmart
Footstar
Sears Holding Corp
Shoemart
East Lawrence renaissance taking shape
East Lawrence redevelopment moves forward with plans to convert nine Pennsylvania Street area buildings into office retail and residential space. First project at 830 832 Pa will become offices for Fairchild Buck law firm within three months, costing over 250000 and restoring brick exterior. Investors include Mark Buck and Lawrence lawyers Mike Riling and John Nitcher.
MENTIONED IN THIS ARTICLE
East Lawrence
Ninth
Pennsylvania Streets
Pennsylvania
Eighth
Bo Harris
Fairchild & Buck
Harris
Mark Buck
Lawrence
Mike Riling
John Nitcher
Hurricane looms over oil prices
Oil prices swung as Hurricane Dennis threatened Gulf of Mexico supplies. NYMEX August crude fell to 59.63 amid profit taking after a rally driven by fears of disruption. Brent eased to 58.20 as traders weighed potential outages and demand trends for the second half of the year.
MENTIONED IN THIS ARTICLE
Washincton
New York Mercantile Exchange
London
Gulf of Mexico
Dennis
Mike Fitzpatrick
Fimat USA
New York
Nymex
Brent
International Petroleum Exchange
Scott Meyers
Pionéer Futures Inc
Caribbean
Florida
Louisiana
Meyers
Scotland
Vladimir Putin
Tom Bentz
BNP Paribas Commodity Futures
Unemployment dips to 5 percent on 146000 June jobs gain
June payrolls rise by 146000, lowering the unemployment rate to 5 percent the lowest in nearly a year. Government May figures are revised higher. Economists expect more robust growth may still lie ahead despite the gradual labor market improvement.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Federal Reserve
Alan Greenspan
Retirement Dilemma Leaves Widow Income Uncertain
A reader near 63 with a 401(k) and a funded pension faces a choice between full lifetime pension for herself with no survivor, or a reduced pension that pays his wife 60 percent after his death. His wife, 59, has not worked outside the home. advisors disagree. The piece notes survivor income losses from Social Security and pension plans and emphasizes the universal relevance for private, public, and military retirees facing spousal survivor decisions.
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Caterer
Topeka
Pennsylvania Street
Scott McClurg
Journal-World Phot
A. Pat Carter
Hurrcare Dennis
Florida Keys
Jan Warner
Jan Collins
Jancollins
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