Unemployment Stays High as Slow GDP Slows U.S. Growth
The Commerce Department reports the economy grew at about 1.5 percent annual rate in the April-June quarter, with weak consumer spending keeping growth tepid and unemployment at 8.2 percent. Economists expect little improvement this year, forecasting 8.3 percent by year’s end. markets rose on European pledges to preserve the euro, while policy actions to boost growth remain uncertain.
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Germanys frugal culture shapes euro crisis stance
German thrift runs from groceries to mortgages and cash reliance. Berlin rejects debt, favoring cash and high down payments, with Merkel's austerity push popular. Only 36 percent hold cards. most payments are cleared in full. Merkel posture gains 64 percent support in Stern poll.
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Facebook stock proves volatile as investors weigh long term view
Notable Dd Investors dump Facebook stock amid slowing revenue growth and missing outlook. Analysts warn near term investors should expect volatility for years. Some say the stock is a longer term bet with potential as Facebook transitions from desktop to mobile.
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Christian Bertelsen
Global Financial Private Capital
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Colin Sebastian
Friday Market Summary with Key Indices and Commodities
Friday markets show the Dow at 13,075.66 after a 187.73 rise while the Nasdaq reaches 2,958.09 and the S&P 500 sits at 1,385.97 up 25.95. Bond yields move with the 30 year at 2.64 percent. Oil climbs to 90.13 a barrel, gold prices at 1618, silver 27.50. Corn 7.93, soybeans 16.02, wheat 9.06.
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