Evening Market Wrap

Evening Market Wrap Thursday, October 6, 2011, 17:01 Contents Commentary Economic News Currency Alerts Political News Commentary Stocks Close Sharply Higher After Seeing Early Weakness - U.S. Commentary Stocks moved sharply higher over the course of the trading day on Thursday, adding to the strong gains posted in the two previous sessions. The markets continued to benefit from easing concerns about the European financial crisis. (Oct 6, 2011) Full Article Economic News U.S. Weekly Jobless Claims Show Modest Increase, Edge Back Above 400,000 New unemployment claims in the U.S. ticked up slightly in the week ended October 1st, according to figures released Thursday by the Labor Department, although claims rose by less than anticipated. On a seasonally adjusted basis, the level of new claims came in at 401,000 for the week, an increase of 6,000 from the previous week's revised level of 395,000. Most economists had expected jobless claims to come in somewhat higher at about 410,000. (Oct 6, 2011) Full Article Currency Alerts Dollar Backpedals As Central Banks Take Support Measures The dollar failed to sustain its early gains against major European rivals on Thursday, as traders expressed concerns that tomorrow's monthly jobs report will paint a grim picture of the U.S. employment situation. The euro and sterling were supported by indications that European officials are taking a hard look at plans for bank recapitalization if a Greek default sparks a wider crisis. (Oct 6, 2011) Full Article Political News Poll Shows Obama's Approval Rating At Record Low In just the latest sign that President Barack Obama is likely to face an uphill battle in his re-election campaign, the results of a Quinnipiac University poll released on Thursday showed that the president's approval rating has dropped to a record low. The poll showed that 41 percent of voters approve of the way Obama is handling his job as president compared to 55 percent that disapprove. (Oct 6, 2011) Full Article Obama Continues To Push Congress To Pass Jobs Bill President Barack Obama Thursday sought to intensify the pressure on Congress to act on a series of proposals he put forward to create jobs around the country. The roughly $447 billion package of spending increases and tax cuts will be voted on as a whole in the Senate next week, and Obama said if it failed he would bring forward the individual components and demand a vote and an explanation of any 'no' votes on each. (Oct 6, 2011) Full Article Senate Committee Approves Cordray To Head Consumer Agency Former Ohio Attorney General Richard Cordray's nomination to be the first ever Director of the Consumer Financial Protection Bureau was approved by the Senate Banking Committee on Thursday, although all of the Republicans on the panel voted against his nomination. The vote came down strictly along party lines, with the 12 Democrats on the panel voting to send Cordray's nomination to the full Senate and the 10 Republicans voting to block the nomination. (Oct 6, 2011) Full Article Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service