Jobs data lift stocks amid Egypt risk and Europe woes
U.S. job gains bolster markets while oil tops 102 a barrel as Egypt turmoil raises Suez risk. Portuguese shares slump on Portugal's government crisis. ADP reports 188,000 June jobs, unemployment claims drop to 343,000. Friday's official jobs data expected to show about 165,000 new positions.
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New York
U.S
Europe
Egypt
Suez Canal
Hiring uptick boosts markets as jobs outlook improves
Private ADP data show 188,000 June job gains led by construction and small firms, while unemployment claims drop to 343,000. Economists expect official June payrolls around 165,000 with 7.6 percent unemployment. Fed bond purchases may wane if growth accelerates.
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Fed
U.S
Derek Gabrielsen
Strategic Wealth Partners
Bernanke
Gabrielsen
ADP
Washington
Federal Reserve
Ethan Harris
Bank of America Merrill Lynch
Delay prompts worries over Obama health care law
The sudden one year delay of the employer coverage requirement raises questions about other provisions of the Affordable Care Act. Officials say the overhaul remains on track by year end, but uncertainties persist as the government tests market readiness and political critics seize on the pause.
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Barack Obama
White House
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Government Accountability Office
Drew Altman
Kaiser Family Foundation
Rich Ambdenstock
American Hospital Association
Health and Human Services
Kathleen Sebelius
Washington, D.C
Sebelius
HHS
Mike Leavitt
Leavitt
George W. Bush
30 year mortgage rate falls to 4.29 percent
Freddie Mac reports the average 30 year fixed mortgage dropped to 4.29 percent, down from 4.46 percent. The 15 year rate also eased to 3.39 percent from 3.50 percent as Fed bond purchases influence long term rates.
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S&p Capital IQ
Standard & Poor
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The
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