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Unemployment Benefit Extension EUC 2014; Congress Leaves Millions of Americans Without Emergency Unemployment Compensation; Billions needed for Border Crisis

Posted on | July 23, 2014 | No Comments

Today’s unemployment benefit extension news review July 23, 2014:
Congress is getting closer and closer to one thing, and it is not another unemployment benefit extension. Congress will leaver for a five week break in less than two weeks and their lack of focus leaves many wondering if another unemployment extension deal will ever be a top priority. The President has asked Congress for billions in aid to contend with the border crisis in parts of Texas. Migrants are running into the U.S. with little to deter them. Additionally, congressional policy makers are focusing more and more on the tensions and threats of war in parts of the world like the Middle East. The issues are the tricky and sticky kind ahead of fall elections. In addition to all of this, the threat of a government shutdown at the end of September is lurking. Another unemployment benefit extension is getting buried in the midst of everything else that is happening. Congress initially allowed unemployment benefits to expire for over a million Americans back in December of 2013 and since that time, over three million Americans have fallen into the category of unemployed without benefits. Bipartisan support for an extension deal has been unattainable and now opportunities to pass another deal have diminished. Democrats and Republicans can not agree on a payment plan for long term unemployment compensation and now, with billions being directed at a border crisis, finding bipartisan support to pay for another extension seems even less likely in 2014.



Genny Germano

Today’s 30 and 15 year mortgage interest rates Freddie Mac reports; Existing Home Sales Rise and Mortgage rates Drop

Posted on | July 23, 2014 | No Comments

Mortgage interest rate news and existing home sales data today July 23, 2014:
Freddie Mac Reported that the average interest rate recently dipped lower and this is good news for the U.S. housing sector. The lower rates could motivate more Americans to exit the sidelines and begin the process of locking into a mortgage plan while rates are at historic low levels.
The housing sector recovery process continues to step forward in 2014 and the most recent report on existing home sales highlights the current recovery process. Existing home sales, according to the National Association of Realtors, moved higher by 2.6 percent to a seasonally adjusted annual rate of 5 million. The sales rate in May was also revised higher to 4.91 million. The uptick in sales pace during June represented the fasted pace since October of 2013. The rise in home price, paired with the still low mortgage interest rates, should prompt additional home buying in 2014. According to NAR’s data, the current existing home price for a single family home is approximately $223,300. This price is above last year’s price by about 4.3 percent. Americans will likely view the rising trend in home prices and mortgage rates and look to lock in a price and rate before it moves even higher. Luckily, Freddie Mac just reported that mortgage interest rates dipped in the most recent week.
Current mortgage interest rates for 30 and 15 year fixed home loans:
Last week, Freddie Mac reported that the 30 year fixed interest rate posted at 4.12 percent. The interest rate for the 15 year fixed home loan posted at 3.23 percent last week.


Stephen Johnson

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market index review and stock composite review July 23, 2014

Posted on | July 23, 2014 | No Comments

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock index review and stock market news update July 23, 2014:
The primary U.S. stock composites tracked higher last session as investors reviewed mixed earnings and economic reports.
In recent economic news, the Labor Department reported that the Consumer Price Index increased by .3 percent in June. The Consumer Price Index rose .4 percent in May. Overall in the last 12 months, the Consumer Price Index increased 2.1 percent. The economic recovery continues to step forward, but inflation is moving in as well. Gasoline prices pushed the index last month.
In other economic news, the National Association of Realtors reported that existing home sales climbed at their fasted annual pace since last October. Existing sales were up by 2.6 percent to a seasonally adjusted rate of 5 million. Sales in May were revised up to 4.9 percent million.
In earnings data, McDonald’s quarterly earnings fell short of expectations as did the data posting for Coca-Cola. On the flip side of the earnings coin, reports from Chipotle and Domino’s were strong and beat economists’ forecasts.
As the last trading session came to a close, all three primary U.S. stock composites posted gains.
Dow Jones Industrial Average, Nasdaq, S&P 500 stock market index review today:
The S&P 500 rose by .5 percent to near record levels and closed at 1,983.53. The Nasdaq rose higher by .71 percent to close at 4,456.02 and the Dow Jones Industrial Average moved higher by .36 percent to close the day at 17,113.54.


Frank Matto

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market index review and stock market news July 22, 2014 mid-day

Posted on | July 22, 2014 | No Comments

Stock market news and stock composite trends mid-day today July 22, 2014:
Stock futures were positive across the board this morning and stocks were positioned for the stronger open. Although stock composite trends began to rebound during the latter half of the last full trading session, all three primary U.S. stock composites finished yesterday with losses. The Dow Jones Industrial Average closed lower at 17,051.73. The Nasdaq finished at 4,424.70 and the S&P 500 dipped to close at 1,973.63 last session. The negative pressure yesterday stemmed from geopolitical conflicts and violence overseas. The downed Malaysian airliner remained a weight on the mind’s of investors and the general turmoil in Iraq and the Ukraine continued to worry investors and depressed the global marketplace. Overseas markets appeared to respond better today and European market indices were attempting to climb this morning.
Investors will get to review several noteworthy reports on earnings today. Coca-Cola and McDonald’s posted results this morning. According to the reports, McDonald’s earnings in the second quarter were not as happy as their meals and Coca-Cola beat second quarter estimates.
In economic news, recent data includes the consumer price index and existing home sales. Consumer prices rose .3 percent in June with a jump in gasoline price leading the way. Existing home sales hit their highest level in months. Sales were 2.6 percent to a seasonally adjusted rate of 5 million.
As the trading session reached the mid-day mark today, all three primary U.S. stock composites were tracking through positive territory.
Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 stock index review mid-day July 22, 2014:
The S&P 500 was up .55 percent at 1,984.50 at mid-day. The Nasdaq was higher by .82 percent at 4,460.75 and the Dow Jones Industrial Average was higher by .38 percent at 17,115.82 at mid-day today.



Frank Matto

Gold price per ounce Spot gold per gram spot silver per ounce today’s precious metal review

Posted on | July 22, 2014 | No Comments

Gold and silver price review today July 22, 2014:
Gold prices rose higher last session as stock indices dipped lower. The Dow Jones Industrial Average, as well as the Nasdaq and the S&P 500, fell lower early after open due, in part, to the pressures associated with the Ukraine and Iraq. Global stock markets were weighed lower last session and the associated uncertainty pushed the yellow metal’s safe haven appeal. Gold contract price rose higher to close last session and silver price dipped lower. August contract gold price moved higher by .34 percent to close at 1,313.90 per ounce last session. September contract silver price fell back by .22 percent to the electronic rate of 20.96 per ounce. One month price change for gold is currently negative by approximately .11 percent. One month price change for silver is currently negative by approximately .16 percent right now.
Today, as the trading session reached the mid-day mark, stock indices were on the med in the U.S. and gold and silver prices were falling back.
Today’s gold price and silver price precious metal contract review mid-day:
August contract gold and September contract silver prices were tracking through negative territory at the mid-day mark today. Gold price was lower by .65 percent at the electronic rate of 1,305.30 per ounce at the halfway point today. September contract silver price was lower by .46 percent at the electronic rate of 20.92 per ounce at mid-day.
Spot gold per gram and spot silver per ounce price review mid-day July 22, 2014:
Spot gold per gram was lower at 41.98 as of the halfway point today. Spot silver per ounce price was lower at 20.87 at mid-day today.


Camillo Zucari

Will Unemployment Benefits be Extended in 2014; EUC news review today July 22, 2014

Posted on | July 22, 2014 | No Comments

Unemployment benefit news review today July 22, 2014:
As each day in July falls from the calendar, hope that another unemployment benefit extension will be voted on and passed falls lower as well. Congress is inching its way towards another “break” that will last approximately five weeks. It does not appear that lawmakers are poised to pass another unemployment benefit extension prior to this extended congressional break. Congress initially allowed unemployment benefits to expire for over a million Americans back in December. Since that time, well over three million Americans have fallen on hard times and are now considered long term unemployed without benefits. Several attempts have been made since December to pass another long term unemployment benefit extension, but each attempt failed due, in part, to a lack of bipartisan support. Democrats believe the economic recovery process would be better off if another unemployment benefit extension is passed, but many Republicans believe that more Americans will be motivated to find and accept employment opportunities minus the option to receive long term unemployment. The debate continues in 2014, but time is running out this month.
Less than two weeks remain before Congress leaves for recess, and it appears that a primary focus is not unemployment, but immigration and border policy. Lawmakers will spend days this week focused on immigration and the influx of child migrants crossing the border. Republicans want to pass legislation that will allow child migrants to be deported faster. Also, the House will vote on tax credit bills. Unemployment may be pushed to the sidelines once again.



Genny Germano

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market index review and News Update July 22, 2014

Posted on | July 22, 2014 | No Comments

Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 stock market index review and stock market news update July 22, 2014:
Although the primary U.S. stock composites closed out the last week of trading on positive ground, stock futures opened this week in the red and stock composites tracked lower during the initial half of this week’s opening trading session. The Dow Jones Industrial Average dropped early in the opening session due, in part, to the worry and uncertainty linked to the turmoil in Ukraine. Geopolitical turmoil and conflict weighed on indices throughout the session. In addition to the downed Malaysian airline dilemma, erupting violence in the Gaza Strip has investors on edge this week. President Obama spoke yesterday to relay that investigators would get to the bottom of the Malaysian airliner incident. He also reported that the costs to Russia will increase if they are not cooperative in dealing with the Malaysian airline investigation.
Earnings data began to filter in too, and the report from Hasbro was uninspiring. Hasbro shares fell after the toy-maker’s report disappointed.
As the trading session reached end of day close, the primary U.S. stock composites posted losses across the board.
Dow Jones Industrial Average, Nasdaq, S&P 500 stock market index review:
The S&P 500 tracked lower last session by .23 percent and close at 1,973.63. The Nasdaq fell back by .17 percent to close at 4,424.70 and the Dow Jones Industrial Average dropped by .28 percent and closed at 17,051.73.
Stock indices began to rebound last session in the latter half of the day and investors will observe closely to see if the rebound continues today.



Frank Matto

Today’s mortgage interest rates 30 and 15 year fixed home loan data; Bay Area San Francisco Home Prices

Posted on | July 22, 2014 | No Comments

Mortgage rates and housing sector news review today July 21, 2014:
Mortgage backed security issuer Freddie Mac recently reported that mortgage interest rates for the standard 30 and 15 year fixed home loans ticked lower in the most recent analysis. Statistically, the drop was relatively insignificant, but potential home buyers would rather see an insignificant decline in rates than a significant increase in the opposite direction. According to Freddie Mac, the interest rate for the standard 30 year fixed home loan moved from 4.13 percent to 4.12 percent last week. Also, the average interest rate for the standard 15 year fixed mortgage plan dipped from 4.24 percent to 4.23 percent last week says Freddie Mac. These rates are still near historic low levels and remain enticing for buyers on the fence. The average home price trend in the U.S. has been positive and so this, paired with the still low mortgage interest rates, will work to compel would be home buyers off of the sidelines and into the marketplace. One specific area of the U.S. where home prices are surging is the Bay Area in San Francisco. The median sale price of a single family home sold in June is less than 10 percent away from peak levels which posted in 2007. Home prices are on the rise and so is demand. Potential buyers are finding themselves in bidding wars in the Bay area and this action is pushing prices higher. The lower mortgage interest rates are bringing in more potential home buyers and increasing competition.



Stephen Johnson

Today’s Dow Jones Industrial Average DJIA Nasdaq S&P 500 index trends and stock market news and earnings update mid-day July 21, 2014

Posted on | July 21, 2014 | No Comments

Stock market news and stock composite trend review mid-day today July 21, 2014:
Although the primary U.S. stock composites finished the last full trading session in positive territory and posted gains for the last week overall, stock futures were in the red across the board prior to opening bell this morning. Last Thursday, a Malaysian airliner was downed in the Ukraine which pressured the global marketplace. Worry and uncertainty associated with the downing of the aircraft and the conflict in Ukraine and the Middle East pressured the global marketplace once again this morning.
Through the halfway point in the trading session, the Dow Jones Industrial Average, as well as the Nasdaq and the S&P 500, were tracking through negative territory. President Obama spoke today and called for a ceasefire in Gaza. He also reported that investigators will get to the bottom of what happened to the Malaysian aircraft.
In earnings news so far today, Halliburton and Hasbro reported early. According to their reports, Halliburton Revenues topped estimates and Hasbro’s second quarter earnings were in line with analysts’ expectations.
As the trading session reached the mid-day mark, the primary U.S. stock composites were tracking through negative territory.

Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 stock market index review mid-day July 21, 2014:
The S&P 500 was red by .39 percent at 1,970.42. The Nasdaq was higher by .37 percent at 4,415.84 and the Dow Jones Industrial Average was negative by .41 percent at 17.030.69 as of the mid-day mark today.



Frank Matto

Today’s Gold price per ounce and Spot gold per gram Spot silver precious metal trends mid-day July 21, 2014

Posted on | July 21, 2014 | No Comments

Gold and silver contract prices and precious metal market trends reviewed mid-day today July 21, 2014:
Stock futures in the U.S. were red early today and precious metal price trend-lines were climbing. Spot gold and spot silver prices were in positive territory early this morning as investors moved to further diversify in the wake of global conflicts. Violence in the Middle East continues to pressure investors and market trends this week and this pressure prompts additional safe haven investing. As a result, gold and silver price trend-lines moved higher during the initial half of trading today and as of the mid-day mark, gold and silver prices posted gains.

Today’s Spot gold per gram and spot silver per ounce price review mid-day July 21, 2014:
As of the halfway point in the trading session today, spot gold per gram price was up to 42.18. Spot silver per ounce price tracked to 20.92 as of mid-day today.

Gold and silver contract price review mid-day today July 21, 2014:
Gold and silver contract prices tracked higher through the mid-day mark in the session today. August contract gold price moved up by .14 percent to post an electronic rate of 1,311.20 per ounce. September contract silver price was higher by .23 percent at the electronic rate of 20.94 per ounce at mid-day today. One month price change for gold is still negative by approximately .09 percent at this time. One month price change for silver is positive now by approximately .22 percent at this time.



Camillo Zucari

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