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Unemployment benefit Extension Deal; EUC 2014 still needed; Jobless Numbers Fall for the Nation but Rise in States; Pennsylvania Data

Posted on | September 21, 2014 | No Comments

Unemployment benefit extension news and jobless claims data review today September 21, 2014:
Jobless claims recently dipped lower in the U.S. once again, and did so in dramatic fashion. According to the Labor Department, initial claims for unemployment benefits fell by 36,000 to the seasonally adjusted rate of 280,000 during the week ended September 13. This decrease was much better than anticipated and the level of claims represents the second lowest level in 14 years. The four week moving average of claims in the nation moved lower by 4,750 to 299,500. On average this year in the U.S., initial jobless claims have hovered around the 300,000 level which marks the first time since the most recent recession that claims have maintained this level. This news is not the type that could push some lawmakers closer to another unemployment benefit extension in 2014, but the national statistics don’t tell the whole story. Individual states are still battling long term unemployment and recent jobless numbers in states across the country were not as positive. Over the last three months in Pennsylvania for instance, the unemployment rate has slowly climbed. The unemployment rate rose from 5.6 percent in June, to 5.7 percent in July to 5.8 percent in August. Just in the last two months, approximately 70,000 fewer people in the state were counted as working. During August, state numbers in Pennsylvania show that the number of people counted as working fell by 35,000. Joblessness still negatively affects our nation and individual states like Pa. still show volatility in the numbers. Legislators should take not and reconsider a plan to extend federal aid to America’s long term jobless.


Genny Germano

Gold price burn; Gold per ounce Spot gold per gram spot silver rate review today September 21, 2014

Posted on | September 21, 2014 | 1 Comment

Gold price per ounce and silver price per ounce rate review today September 21, 2014:
Gold sell offs continued during the final trading session of last week and prices for both gold and silver headed lower. The negative weekly close represented another consecutive week during which gold price fell lower. A surging stock market has pulled attention away from precious metals and the strengthening dollar has diminished precious metal gold investments as well. The greenback has recently gained and the dollar index, a measure of the dollar’s value versus a handful of other global currencies, is on the rise. The rise in the dollar’s strength is a good thing for the U.S. economic recovery process and for consumers, but it diminishes gold’s safe haven appeal. This has pressured gold price this year and is a primary reason that gold price trend-line is down for the year. According to one year price change, gold price is negative by approximately 5.44 percent right now. Silver price change over the last year is negative by approximately 8.4 percent right now. Last session, gold contract price closed at the floor rate of 1,216.60 per ounce. Silver contract price for December delivery dropped lower to 17.84 per ounce last session. After last session’s close, spot gold per gram price posted at 39.09. Spot silver per ounce price posted at 17.82 after last session’s close.
Investors will tune in as this week opens to see if precious metal price trends continue to dip lower.


Camillo Zucari

GM Recall Update September 2014; Cadillac XTS and Chevy Impala Recall Notes; Recalls Pile Up for General Motors

Posted on | September 21, 2014 | 2 Comments

General Motors recall news and note update today September 21, 2014:
General motors has had a difficult year. the recalls are accumulating and owners’ worries are on the rise. In recent news for General Motors, the company issued another recall for approximately 221,000 new cars around the world. The most recent recall is for the Cadillac XTS 2013-15 and the Chevrolet Impala 2014-15. The recalls were prompted via the National Highway Traffic Safety Administration and according to the Safety Administration, the recall included approximately 205,000 cars which were sold in the United States. The Cadillac and Impala recall is due to a fault with the braking system that could cause excessive heat and diminished performance. The automaker reports that the brake pads can remain partially engaged even when the breaks are not engaged by the driver. GM reports that the parking brake arm that applies pressure to the brake pad may not completely retract after being initially engaged. GM is not currently aware of any fatalities, injuries or accidents linked to this specific recall. So far in 2014, GM has recalled almost 30 million cars. It has not been a very good year for the automaker regarding recalls. General Motors reports that the company is currently in the process of notifying owners and intends on fixing the problem at no charge. Owners of recalled vehicles are being notified through mail and e-mail notifications. Any owner affected by the recall can contact their local dealership to gain additional information regarding the recall and the process of rectification.


Stephen Johnson

EUC 2014 unemployment benefit extension Still needed; Emergency Compensation deal update September 20, 2014

Posted on | September 20, 2014 | No Comments

Unemployment Benefit extension news review and emergency compensation note update September 20, 2014:
Fed chief Janet Yellen called the state of conditions that lower income Americans must endure a “sobering” reality right now in the U.S. She relayed that the degradations caused by the most recent economic recession devastated a large contingent of the U.S. population and the aftershocks continue to depress the economy and U.S. families. She specifically reported that the Federal Reserve must work to help American families build assets again and that American families were economically vulnerable at this time. Yellon reported that income for the bottom fifth of U.S. households has dropped over the last several years and that an unexpected expense of just several hundred dollars could cause significant instability to the finances of these families. Asset building is key for these families says Yellen. Congress should take notice and consider another extension of unemployment benefits for the long term unemployed in the U.S. The deal would not be a significant asset builder for America’s jobless, but it would be a start in the right direction. Congress was busy this week passing a bill that will fund government operations until December 11, 2014. The bill will act to prevent another government shutdown after the fiscal year ends on September 30. Attached to the bill is a spending measure that will train and arm Syrian rebels. Some were hoping that an unemployment extension deal might be attached, but this was just wishful thinking. It does not appear that lawmakers are ready to consider EUC again in 2014 at this time.


Genny Germano

Today’s gold price per ounce Silver rates; Spot gold per gram Precious metal trends September 20, 2014

Posted on | September 20, 2014 | No Comments

Gold price and silver price precious metal news review today September 20, 2014:
Gold and silver price trend-lines continued to track through negative territory during the last full trading session of the week. Both gold and silver contracts closed the last session in the red for the day. The negative spiral for gold price continued last session and the close pushed gold into the red for another consecutive week. Analysts were not surprised by the weekly loss as a majority surveyed in the weekly Kitco News gold survey expected the drop. The week ended with sell-offs and this paired with sluggish demand to pressure price trend-lines. Gold price continues to hover near multi-month lows and the negative close last session pushed one month price change for gold and silver further into the red.

Gold and silver contract price per ounce close review today September 20, 2014:
December contract gold price dipped by .84 percent to close at the floor rate of 1,216.60 per ounce. December contract silver price fell by 3.63 percent to close at 17.84 per ounce. One month price change for gold is currently negative by 5.85 percent. One month price change for silver is currently negative by approximately 8.26 percent.

Spot gold per gram and spot silver per ounce price review today September 20, 2014:
Spot gold per gram posted at 39.09 last session. Spot silver per ounce price posted at 17.82 after last session’s close.
gold price settled at its lowest price of the year to close out the week.



Camillo Zucari

DJIA Dow Jones Industrial Average, Nasdaq, S&P 500 index trends and Today’s Stock Market update September 19, 2014

Posted on | September 19, 2014 | No Comments

Stock market index trends and market session news review mid-day September 19, 2014:
In recent news, the Labor Department reported that jobless claims dropped, the Senate passed a bill to keep the government humming, the Scots voted against independence and the Feds signaled that they were in no hurry to raise key interest rates. The primary U.S. stock composites finished the last full trading session in positive territory across the board and the Dow Jones Industrial Average closed at another record high. The Dow Jones Industrial Average moved higher to 17,250 last session. The Nasdaq rose to 4,112.75 and the S&P 500 tracked higher to 2,011 to close the session. The most recent news, that Scotland voted to stay in the United Kingdom, has voters breathing a sigh of relief. The status quo is perceived as better than the months of political and economic turmoil that would have resulted had Scotland voted to leave the United Kingdom. Stock futures in the U.S. were positive across the board prior to opening bell today and stock indices were mixed by the mid-day mark. The Dow Jones Industrial Average positioned for another day of record levels.

Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 stock index review mid-day September 19, 2014:
The Nasdaq was red at mid-day but the Dow and the S&P 500 moved higher through the mid-day mark. The S&P 500 was up by .07 percent at 2,012.78. The Dow Jones Industrial Average was higher by .20 percent at 17,300.29 but the Nasdaq was red by .13 percent at 4,587.66 at mid-day.



Frank Matto

Today’s Gold per ounce Spot gold per gram Spot silver news and notes mid-day September 19, 2014; Will Gold Fall Continue?

Posted on | September 19, 2014 | No Comments

Gold price and silver price precious metal news review mid-day today September 19, 2014:
The primary U.S. stock composites rose higher again during the last full trading session and the Dow Jones Industrial Average closed at another consecutive high. Attention to stocks translated into diminished attention for precious metal safe havens like gold last session. Both gold and silver contract prices tracked lower through a majority of the last full trading session and ultimately closed the day in the red. December contract silver price fell by 1.16 percent to close at the floor rate of 18.52 last session. December contract gold price fell by .73 percent to close at 1,226.90 per ounce. Analysts surveyed in the Kitco News gold survey prior to the start of this week predicted that gold price would fall again this week. As the session opened today, gold price seemed poised for a third weekly loss. Gold price continues to hover near eight month lows right now. Today, as the trading session reached the mid-day mark, gold and silver price trend-lines were tracking lower.

Today’s gold price per ounce and silver price per ounce precious metal mid-day review September 19, 2014: December contract silver price dipped lower by 2.52 percent to post at the electronic rate of 18.05 per ounce. December contract gold price fell back through the first half of trading by .71 percent to post at 1,218.20 per ounce.
Spot gold per gram and spot silver per ounce price review September 19, 2014 mid-day:
Spot gold per gram price posted lower at 39.19 at mid-day today. Spot silver per ounce price posted at 18.04 per ounce at mid-day.


Camillo Zucari

Unemployment Benefit Extension EUC 2014 U.S. News and Note Update September 19; Fed Chief Says that there are too Many Unemployed

Posted on | September 19, 2014 | No Comments

Emergency unemployment compensation EUC 2014 review and note update today September 19, 2014:
The U.S. Census Bureau reports that the rate of poverty in America is dropping. According to data released this week, the poverty rate in the U.S. dropped by .5 percent last year from the year prior and full time employment is on the rise. The report also showed that median household income is on the rise as well. In 2013, the median earnings for a U.S. household rose to $51,939 from the estimated earnings rate of $51,759 the previous year. This information could be used to show that the state of the economic recovery process in the U.S. is relatively positive. It could also be used to argue that another round of unemployment benefits in the U.S. is not necessary at this time. It appears that the U.S. recovery process is gaining strength. Not so fast. The same Census Bureau report also notes that the median household income in 2007 was $56,436. Median income levels are still not fully recovered. Americans families are still not making what they made on average seven years ago. This should be a red flag for Congress. It appeared to be a red flag for Fed chair Janet Yellen this week. Yellen emerged from two days of Federal Open Market Committee meetings this week to relay that there are still too many people who want jobs in America but cannot find them. She relayed that there are still too many Americans working part time. She also reported that more people would be job searching if the job market were stronger than it is right now. It appears as though the Fed chief is not completely satisfied with the strength of the job market in the U.S. and her words could potentially spark debate regarding the need for another unemployment benefit extension for the log term unemployed.


Genny Germano

Today’s Gold price per ounce Spot gold per gram Spot silver per ounce Precious metal news September 19, 2014

Posted on | September 19, 2014 | No Comments

Gold price and silver price precious metal news review today September 19, 2014:
After gaining earlier in the trading week, gold and silver prices both tracked lower during the last full trading session. Stock indices continued to track higher as investors were filled with additional optimism and confidence linked to the Fed news. The Federal Reserve issued statements relaying that key interest rates would remain near zero levels for a considerable time period. Economic news was positive last session as well and this added to the positive response in the stock market. Greater attention in stocks translated into reduced attention for precious metal safe havens. Gold and silver prices tracked lower throughout a majority of the last full trading session and ultimately ended the day with negative closing floor rates. The negative price close adds to the negative price trend-line posting for gold and silver over the last several weeks.

Gold and silver price per ounce close review and one month price trend analysis today September 19, 2014:
December contract gold price fell by .73 percent to close at the floor rate of 1,226.90 per ounce. December contract silver price fell lower by 1.16 percent to close at 18.52 per ounce.
Spot gold per gram and spot silver per ounce price review today September 19, 2014:
Spot gold per gram price posted lower at 39.34 prior to opening bell today. Spot silver per ounce price posted lower at 18.51 prior to opening bell.
Investors will tune in today to see how gold and silver prices end the final session of the week.



Camillo Zucari

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market index review; Stock Indices Continue to Climb; Record Levels Again

Posted on | September 19, 2014 | 1 Comment

Stock Market index close review and market session news update today September 19, 2014:
The primary U.S. stock composites rose to new highs during the mid-week session. The Feds emerged from their two day policy meetings and revealed that key interest rates would likely remain near zero levels for a “considerable time.” Investors take these words to mean that the Fed intends on keeping rates lower through the end of this calendar year and potentially through the spring of 2015. This is good news for investors, and good news for the marketplace in general. Optimism was high last session and this helped to push stock indices along. Additionally, the Labor Department reported that the number of Americans filing for first time jobless claims dropped lower by 36,000 to the seasonally adjusted rate of 280,000. This decline was much better than anticipated and gave investors a shot of confidence. As the trading session closed, all three primary U.S. stock composites posted gains and new trading highs had been achieved.
Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 stock market index close review:
The S&P 500 rose higher by .49 percent to close at 2,011.36. The Nasdaq rose higher by .68 percent to close at 4,593.43 and the Dow Jones Industrial Average climbed by .64 percent to close at 17,265.99. The close for the Dow and the S&P 500 represented record levels. The positive close for the Dow represented the second straight day on which the index closed at a record high. Investors will tune in today to see if the positive momentum continues to close out the week.


Frank Matto

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