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Unemployment benefit extension plan U.S. 2014; EUC and Emergency Compensation note review; Talks must Continue

Posted on | September 2, 2014 | No Comments

Unemployment benefit extension news review today September 2, 2014:
Millions of Americans are still struggling to find gainful employment but are still categorized as America’s long term unemployed without benefits. Congress allowed emergency unemployment compensation to expire for over a million back in December 2014 and now, we are just several months away from December of 2015 and another benefit extension plan has not yet been passed.
Although the unemployment rate has decreased this year, it is still elevated at 6.2 percent and, according to the Federal Reserve Chair, the economic recovery is still in question. During a recent speech, Fed Chair Janet Yellen reported that she still had concerns with the U.S. economic recovery process. Specifically, Yellen reported that the job market has not yet full recovered. She relayed that although the unemployment rate has dropped, problems remain for the U.S. job market. She cited the high number of long term unemployed as a primary concern. She is worried that the number of people participating in the labor force has continued to decline.
A plan to extend unemployment benefits has been presented this year, but Democrats and Republicans can not find a middle ground on which to agree. Republicans have relayed that the economic recovery process needs job creation legislation and not unemployment extension legislation. The problem with this argument is that few have been able to present a plan to foster a solidly functioning and growing U.S. economy. Problems remain and the long term unemployed continue to struggle. Lawmakers return to session this month and hope remains that EUC 2014 will be discussed once again.



Genny Germano

Today’s Gold price per ounce Spot gold per gram Spot silver Rate review September 2, 2014

Posted on | September 2, 2014 | No Comments

Today’s Gold price and silver price precious metal news update September 2, 2014:
The primary U.S. stock composites finished in positive territory across the board last session and the S&P 500 hit another record trading high. The Dow Jones Industrial Average, as well as the S&P 500 and Nasdaq, posted gains again for the week. Precious metal safe haven appeal diminished as investor attention focused on stocks. Both gold and silver contracts finished the last full trading session in the U.S. with floor prices on the negative side of break-even. December contract gold price fell back by .23 percent last session to close at 1,287.40 per ounce. One month price change for gold is currently negative by .57 percent. December contract silver price was in the red last session by .60 percent at the floor price of 19.49 per ounce. One month price change for silver is negative by approximately 4.4 percent right now. Precious metal safe haven appeal was weakened as stock indices climbed, but this week, overseas volatility could pressure stock composite trend-lines and boost precious metal diversification. U.K. authorities just recently warned that a terror attack linked to the conflict between Russia and Ukraine is highly likely. The fear and uncertainty tied to this potential could prompt safe haven investing this week. Survey participants in the most recent Kitco News Gold Survey have mixed views. About 41 percent of the survey respondents see gold prices rising higher this week. Prior to opening bell today, spot gold per gram and spot silver per ounce prices were tracking in a positive direction. Spot gold per gram price was up to 41.40 and spot silver per ounce price was up to 19.47.


Camillo Zucari

Today’s DJIA Dow Jones Industrial Average, Nasdaq, S&P 500 stock close review and news review at open September 2, 2014

Posted on | September 2, 2014 | No Comments

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market news and stock composite trend review September 2, 2014:
Many investors are set to return to the marketplace today after Wall Street took a breather to recognize the Labor Day holiday in the U.S. Stock index momentum continued to build during the last full trading session of last week. The S&P 500 hit another trading high last session.
Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 close review today:
All three primary U.S. stock composites finished the last full session with gains. The S&P 500 closed at the record of 2,003.37. The Nasdaq rose higher to 4,580.27 last session and the Dow Jones Industrial Average climbed to 17,098.45 as the last week came to a close. Trading was light last session, but investors are expected to filter back into the marketplace today as they return from their weekend holiday break.
Economic news last week was positively skewed and this gave investors a bump in confidence. The most recent reading on consumer sentiment was much better than expected and Chicago area business conditions were better than anticipated as well. Stock composites finished the last session with gains and gained for the last week overall as well. The Dow Jones Industrial Average climbed higher for the last week by .6 percent. The Nasdaq rose higher for the week by .9 percent and the S&P 500 rose higher last week by .8 percent last week.
Investors hope to see the positive trend-lines continue today.



Frank Matto

EUC Emergency Unemployment extension for long term unemployed in 2014; Labor Day celebration confronts America’s jobless

Posted on | September 1, 2014 | No Comments

Today’s unemployment benefit extension news review and EUC update for September 1, 2014:
The first day of September in the U.S. is Labor Day and this is a day of festivities and celebration in honor of the working people of America. On this day, the people of America are expected to celebrate economic achievement. For millions of Americans though, long term joblessness has left them with little to celebrate. The fact that Congress has not passed another unemployment benefit extension deal for the long term unemployed only makes their plight more difficult and uncertain. According to a recent Wall Street Journal/NBC News poll, approximately 64 percent of Americans are currently “dissatisfied” with the state of the economy right now compared to only 35 percent that are “satisfied.” Over 70 percent of America believes that the country is on the wrong track according to the poll. Approximately 76 percent of Americans do not believe that their children’s generation will be better off than this generation. This poll does not imply that a majority of Americans will be celebrating the current state of the economy this Labor Day. The best many jobless can hope for is that the Democratic contingent will return and once again take action to convince the Republican contingent that another round of unemployment benefits is necessary to support the long term jobless in the U.S. right now. It should be noted that the federal government spends trillions per year and the recent attempts to pass an unemployment deal would have cost the government just under $10 billion. On this Labor Day, as lawmakers begin to consider their transition back to Washington, thought should be given to the plight of the long term jobless.


Genny Germano

Today’s dow Jones Industrial Average, Nasdaq, S&P 500 stock market index close review and news September 1, 2014

Posted on | September 1, 2014 | No Comments

Stock market news and stock composite trend review today September 1, 2014:
The Dow Jones Industrial Average, as well as the Nasdaq and the S&P 500, finished the last full trading session with gains. The S&P 500 finished above the 2,000 mark again at 2,003.37. The Nasdaq rose higher to 4,580.27 and the Dow Jones Industrial Average rose higher to 17,098.45 last session. The positive finish to last week was induced, in part, by the positively skewed economic data that posted as the week came to a close. U.S. jobless claims dipped again to the seasonally adjusted rate of 298,000 during the week ended August 23. Over the last six weeks, jobless claims have fallen below 300,000 four out of six times. Additionally, consumer sentiment rose from 81.8 to 82.5 in August and the survey’s barometer of current economic conditions rose to its highest level since 2007. The positive data helped the primary U.S. stock rise on Friday, but only modestly so. The rise in consumer sentiment prompted additional investor confidence and investors may be anticipating a better August jobs report this week. Trading volume was light as the primary U.S. stock composites not only found a way to close another week in positive territory, but found their way into positive territory for the month of August as well. The S&P 500 finished the last session at another record close. This week could be more volatile considering the heightened potential of terror attacks in Ukraine. Investors will return to the marketplace tomorrow due to the Labor Day holiday today.


Frank Matto

Emergency unemployment benefit extension deal EUC in 2014; Will Congress reconsider Unemployment deal in the U.S.

Posted on | August 31, 2014 | No Comments

Unemployment benefit extension deal review and note update today August 31, 2014:
Mixed news on economic recovery in the U.S. continues to confound the situation for millions hoping that Congress will soon reconsider extending emergency unemployment benefits in 2014. Right now, unless the President puts pen to paper and bypasses the Congressional process, millions of America’s long term unemployed have to consider the facts and wait. Congress isn’t scheduled to return to session for another week. Few headlines have posted regarding the push for unemployment benefits in recent weeks and the mixed economic data continues to muddy the waters. Some data makes the case for economic recovery, and other reports seem to imply that sluggish growth is imminent. Just this week, the Commerce Department reported that orders for big ticket manufactured items in the U.S. surged 22.6 percent to 300.1 billion in July. This rate represents the sharpest increase on records that go back to 1992. According to the most recent Thomson Reuters/University of Michigan’s report, the survey’s barometer of current economic conditions rose to 99.8 which also represented the best level since 2007. This type of data implies strong economic recovery and would not be very motivating to lawmakers on the fence about another unemployment benefit extension deal. On the flip side, the Congressional Budget Office just recently forecast that the U.S. economy will grow by just 1.5 percent in 2014 after growing just .9 percent during the first half of 2014. The sluggish growth rate could be used to argue for another round of unemployment benefits in 2014. Millions are waiting for Congress to return and for the reestablishment of extension talks.


Genny Germano

Today’s gold price per ounce Spot gold per gram spot silver rate update; Gold and silver investing News August 31, 2014

Posted on | August 31, 2014 | No Comments

Gold price and silver price precious metal news review today August 31, 2014:
A majority of Kitco gold survey participants believed gold price would track lower during the last week but participants believe prices may track higher during this upcoming week. According to this weeks survey, 41 percent of the survey participants see gold prices rising higher this week, but 32 percent see gold prices trading sideways. The investors and analysts apparently have mixed emotions about which way gold price trend-lines may move this week. The mixed economic and overseas concerns could be prompting this point of view. Last session gold and silver contract prices dipped into the red to close. December contract gold price fell back by .26 percent to close at 1,287.40 per ounce. December contract silver price fell by .60 percent and closed the day at 19.49 per ounce. The negative close pushed one month price change even further into negative territory. Currently, one month price change for silver is negative by approximately 5.6 percent. One month price change for silver is currently negative at this time by approximately 5.6 percent and gold price change is negative by approximately .76 percent right now.
Spot gold per gram spot silver per ounce price review today August 31, 2014:
Recently, spot gold per gram and spot silver per ounce turned positive. Spot gold per gram price rose higher to 41.38 and spot silver per ounce price was up to 19.45.
Investors will tune in this week to see if the analysts’ predictions are correct.

Camillo Zucari

EUC; Emergency Unemployment Benefit Extension 2014; Millions of America’s Jobless need Federal Aid

Posted on | August 30, 2014 | No Comments

Unemployment benefit application news update and U.S. unemployment benefit extension EUC 2014 deal review August 30, 2014:
Although millions of Americans are still waiting on Congress to pass another unemployment benefit extension deal, it appears fewer Americans are making applications to receive initial state unemployment benefits. This news may not be good for those hoping to sway the minds of the many lawmakers that have sided against another unemployment extension deal in 2014. According to the Labor Department’s most recent weekly report, the number of American’s filing state claims for unemployment dipped again by 1,000 to the seasonally annualized rate of 298,000 for the week ended August 23. Initial claims for unemployment have now dropped lower four times over the last six weeks. This data can definitely be viewed as a sign of an improving economy and thus will work against the idea of passing another unemployment benefit extension deal. In the weeks leading up to the most recent congressional recess, it seemed as though the push to extend another unemployment benefit deal was losing steam and fading to the background. The recent economic news is unlikely to bring the push back to the forefront. In addition to the initial jobless claims data, the most recent second quarter GDP report was positively skewed as well. The second quarter GDP rose by 4.2 percent at an annualized rate. Again, this data implies economic strength and is unlikely to help the cause for the millions of Americans still out of work and without benefits.


Genny Germano

Genny Germano

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock index close review and market update August 30, 2014

Posted on | August 30, 2014 | No Comments

Stock market news review and stock composite trends today August 30, 2014:
As the week came to a close, economic news was generally positive and this helped to prompt investor confidence and rising stock composites trend-lines in the U.S.
On Thursday, it was reported that orders for durable goods surged higher and initial claims for state unemployment fell back.
Last session, the report on consumer sentiment posted and showed that the overall index rose to 82.5 in August from 81.8 in July. Additionally, the survey’s indication of current economic conditions rose to 99.8 which represented the highest level since the summer of 2007.
The consumer spending and personal income report posted as well last session. Consumer spending in July fell back by .1 percent but personal income rose higher by .2 percent. Although personal income is on the rise, consumers are shopping less and presumably saving more.
On top of it all, it should be noted that the GDP in the second quarter advanced at a 4.2 percent pace. Overall, the economic recovery process in the U.S. looks to be on track.
As the final trading session of the week came to a close, the primary U.S. stock composites finished on the positive side of break-even.
Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 stock market index review August 30, 2014:
The S&P 500 rose higher last session by .33 percent to close at 2,003.37. The Nasdaq rose higher by .50 percent to close at 4,580.27 and the Dow Jones Industrial Average rose higher by .11 percent to close at 17,098.45 to close the last session of the week.



Frank Matto

Gold price per ounce Spot gold per gram Spot silver per ounce Price review today August 30, 2014

Posted on | August 30, 2014 | 1 Comment

Gold price and silver price precious metal news review today August 30, 2014:
The primary U.S. stock composites finished with gains last session and precious metal gold and silver prices dropped into the red once again. Economic news has been positively skewed in the U.S. in recent days and this has pulled attention from safe havens to stocks. The stock composites racked up another week of gains in the U.S. and precious metal gold and silver prices extended their losses.
December contract gold price and September contract silver price close review today August 30, 2014:
September contract silver price dipped lower by .7 percent and closed the day at 19.40 per ounce as of last session’s close. December contract gold price dipped lower by .23 percent to close the day at 1,287.40 per ounce as of last session’s close. One month price change for both gold and silver is currently negative at this time. Price change for gold is negative by approximately 1.85 percent at this time and price change for silver is negative by approximately 5.7 percent at this time.
Spot gold per gram spot silver per ounce price review today August 30, 2014:
Spot gold per gram and spot silver per ounce prices were tracking higher. Spot gold per gram price was up to 41.38. Spot silver per ounce price was up to 19.45 after last session close.
Gold and silver prices mixed throughout the last week, and analysts are unsure of direction at this point. Last week, analysts were bearish for this week. Investors will tune in after the weekend to see which way gold and silver prices track.



Camillo Zucari

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