Category: General

US stock futures fall after European elections

Posted on by The INO.com Team

(AP:NEW YORK) A roiling political landscape in Europe pushed U.S. stock futures lower Monday as beleaguered voters in Greece and France rejected years of painful budget cuts.

The Dow Jones industrial average fell 46 points to 12,911. The Standard & Poor's 500 slipped 5.7 points to 1,356.80. The Nasdaq composite index fell 12 points to 2,613.50.

The parliament in Greece is split after elections Sunday and there is no party close to forming a new government. The French ousted President Nicolas Sarkozy, part of a wave of unrest over budget cuts as unemployment spirals higher and social services and safety nets evaporate.

Elected in Sarkozy's place was Socialist Francois Hollande, who pledged immediately "to finish with austerity." Continue reading "US stock futures fall after European elections" →

Job growth slowed again in April; rate ticks down

Posted on by The INO.com Team

By PAUL WISEMAN and CHRISTOPHER S. RUGABER
AP Economics Writers

(AP:WASHINGTON) One month of slower job growth might have been a blip. Two suggest a worrisome trend: The economy may be faltering again.

The United States generated just 115,000 jobs last month, well below expectations and the fewest since October. The unemployment rate fell to 8.1 percent, but for the wrong reason _ workers abandoned the labor force.

From December through February, employers added 252,000 jobs a month on average. But the figure dipped in March and dropped further in April, raising doubts about an economic recovery that can't seem to reach escape velocity.

The report Friday by the Labor Department indicated "an economy that is losing momentum _ especially on the jobs front," said Tom Porcelli, chief U.S. economist at RBC Capital Markets. Continue reading "Job growth slowed again in April; rate ticks down" →

Jobs report sends oil to biggest drop in 6 months

Posted on by The INO.com Team

By JONATHAN FAHEY and CHRIS KAHN
AP Energy Writers

(AP:NEW YORK) The price of oil suffered its biggest one-day decline in nearly six months Friday, falling below $100 per barrel for the first time since February. A drop in gasoline prices can't be far behind.

It's a welcome trend for motorists, with the summer driving season just around the corner. And it eases some pressure on the U.S. economy, which has shown only agonizingly slow growth in the nearly three years since the Great Recession ended.

Oil fell $4.05, or 4 percent, to $98.49, after a weak U.S. jobs report offered the latest evidence that the global economy is weakening, possibly reducing demand for oil. At the same time, there is mounting evidence that world oil supplies are growing. Continue reading "Jobs report sends oil to biggest drop in 6 months" →

Weekly Futures Wrap Up w/Michael Seery

Posted on by The INO.com Team

We've asked Michael Seery of SEERYFUTURES.COM an IB of Peregrine Finanial Group to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Busines, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Stock Futures--- The stock market this morning are sharply lower across the board due to the fact of the monthly unemployment report which was bearish adding 115, 000 new jobs however 175, 000 new jobs were expected and is pushing the S&P 500 down 18.00 points currently trading at 1368.50 while the Dow Jones industrial average is down 150 points breaking 13,000 mark in the June futures currently trading at 12, 996 and active trade in Chicago today. The NASDAQ futures for the June contract are lower by nearly 47 points currently trading at 2,645 again due to a negative unemployment report which put the unemployment rate of 8.1% which is the lowest rate in nearly 3 years , however in my opinion I think the Obama administration is trying to get the unemployment rate to about 7.8% before election time because it looks good politically that the rate continues to drop however the economy is still poor and the unemployment rate in the last several years really can give mixed signals. Continue reading "Weekly Futures Wrap Up w/Michael Seery" →