Wall Street jittery after Fed hints Europe risk to economy
U S stocks fluctuated as the Fed warned that developments abroad threaten growth. The Dow drifted about four points as Treasury yields fell and long rates slumped. Traders said the Fed statement showed the economy will recover gradually and that European debt worries could dampen the rebound.
MENTIONED IN THIS ARTICLE
New York
U.S.A
Wall Street
Federal Reserve
Europe
Treasury
Fed
San Francisco approves cell phone emissions law
San Francisco’s Board of Supervisors votes 10-1 to require disclosure on handset radiation, with Mayor Newsom vowing to sign. The measure aims to boost consumer awareness amid ongoing scientific uncertainty about links between long term cell phone use and brain tumors, despite no conclusive studies.
MENTIONED IN THIS ARTICLE
San Francisco
Board of Supervisors
Gavin Newsom
Oral Communications Commission
Newsom
Tony Winnicker
U.N
Fed keeps rates steady as recovery steadies
The Federal Reserve ended a two day meeting with a 9 to 1 vote to hold rates at record lows for an extended period while cautioning that Europe’s debt crisis poses a risk to the U.S. rebound. Bernanke and colleagues offered a more reserved view, saying the recovery is proceeding but less upbeat than in April as headwinds persist.
MENTIONED IN THIS ARTICLE
U.S
Federal Reserve
Europe
Fed
Ben Bernanke
New Home Sales Drop After Tax Credits End
May sales of new homes fell 33 percent to a record low as buyers pulled back without federal tax credits of up to 8000 dollars. The Commerce Department data signal ongoing housing weakness that could stall the broader economic recovery amid high unemployment and slow job growth despite low mortgage rates.
MENTIONED IN THIS ARTICLE
Commerce Department
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