Thu, Feb 12 2009, 23:46 GMT
by James Whyte
In the news: Today the U.S. Markets opened to the downside as numbers from continuing jobless claims climbed to a record and traders speculated the government will have a tough time reviving the U.S. economy. The report released this morning at 8:30am New York time, showed and increase of 623K from a 610K expected. On a positive note Core Retail sales and Retail sales posted an increase of .9% and 1% respectively. Crude oil traded below $34 per barrel on even more concerns about an economic recovery. Oil is down 20% this week alone. The Dow Jones closed -6.77 after being down almost 238 points. The comeback was due to a report from Reuters stating the Obama Administration is considering the possibility of providing more assistance to homeowners who are having trouble making their mortgage payments.
Published on Thu, Feb 12 2009, 23:47 GMT
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