With success in some European debt auctions, the Euro to dollar conversion continued to rise. In today’s session, the euro continued to rally; the currency rose to $1.23 versus the dollar. With the euro rising it set the trading tone for the day; for most of the session, stocks steadily…
BP stock fell in today’s trading session, as many wonder if the company can afford to pay their first quarter dividend and the extensive clean up. BP is due to pay out their dividend on June 21; the company is holding a board meeting today to discuss what the best…
Consumer Sentiment Stocks were able to trim off some losses from earlier with news that consumer sentiment hit a two year high. University of Michigan’s consumer sentiment index rose to a reading of 75.5 in June; analysts were expecting a reading of 74.8. Stocks had started the day off down…
A rise in Chinese exports in May helped trigger a triple digit rally this morning. China’s customs bureau reported that the nation’s exports soared 48.5% in May, up from the 5% growth in the first three months of the year. May’s rise was the largest rise the nation has seen…
Chairman Bernanke reassured investors’ today, when he testified before the House Budget Committee. As fears have grown about the condition of our economy, Bernanke expects the debt crisis will only have a “modest” effect on the U.S. economy. Bernanke said before the Budget Committee, “The actions taken by European leaders…
Investors decided to buy gold in the heat of the European debt crisis, helping push the precious metal to record highs. Yesterday, gold reached $1,254.50 an ounce; an intraday trading record. Gold for August delivery was adding $8.40 to $1,249.20 an ounce after hitting yesterday’s high. Investors have been investing…
Chrysler announced they will be recalling close to 600,000 vehicles. Recalls are being made from a possibility of accelerators sticking; brake failure and faulty wiring that could catch doors on fire. Chrysler recalled up to 365,000, 2006 to 2010 Jeep Wranglers, due to a possibility that the vehicle could develop…
Today, Shrek forever after McDonald’s cups were recalled by the millions. McDonalds said that the glasses; which boast characters from the popular Shrek movies, were being recalled due to cadmium found in the paint. There were no injuries reported from the recall, however healthcare officials say a long term exposure…
BP Oil attempted a new plan today to try to slow down, or stop oil from leaking. BP attempted to cut off the existing pipe today, so they could install a new cap on it; problems occurred when the diamond-tipped saw they were using to try to cut the pipe…
Challenger, Gray & Christmas reported today that May job losses were 65% lower than in May 2009. The firm said planned job cuts rose 1.3% to 38,810 jobs in May from April’s 38,326; Aprils reading was a record four year low. May marks the 12th straight month that job cuts…
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