Moody's CEO sold stock before price declines
Moody's Investors Service chief Ray McDaniel sold nearly 3 million dollars of stock this year and 7.1 million last year, timing sales near price peaks. McDaniel cited 10b5-1 plan rules, while critics question whether inside information influenced trades and disclose terms. The SEC noted investigations preceded some sales.
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Jobless rate rises in most metro areas in June
The Labor Department reports unemployment climbed in 291 of 374 metro areas in June, with about one million teens entering the workforce for summer. Rates rose in college towns like Tuscaloosa and Ames, while Las Vegas led among metros with 14.5 percent.
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AP economy survey shows slower growth and high unemployment
AP economists expect 2010 to 2011 growth around 2.7 to 3.0 percent with unemployment near 9 to 9.6 percent. Net job creation fluctuates monthly, with 1.2 million jobs added in 2010 and 2.1 million projected next year. Inflation remains low, while Fed rate hikes loom in 2011 to support growth without reigniting inflation.
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