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Friday, July 3, 2009U.S. Economy
U.S. regulators took control of seven banks last night, ahead of the holiday weekend. 52 banks have failed, so far this year. The World Health Organization acknowledged that the H1N1 flu was now unstoppable, but also added that most cases have been mild. So far, there have been 300 deaths worldwide. Grains and Cotton
Currencies
An index of services in the U.K. slipped from 51.7 to 51.6 in May, a sign of expansion for the second month in a row. Thursday, July 2, 2009U.S. Economy - Disappointing Job Losses
In May, the job loss figures were revised from -345,000 to -322,000. In April, the job loss figures were revised from -504,000 to -519,000. The Labor Department also said that jobless claims were down 16,000 last week to 614,000. The U.S. Commerce Department said that factory orders were up 1.2% in May, stronger than expected. Grains and Cotton
The USDA said that 2009-2010 exports of wheat improved from -36% to -31% from a year ago. December wheat closed down 6.5 cents at $5.55, the lowest close in almost seven months. The USDA said that 660,000 tons of U.S. soybeans were sold to China for 2009-2010. Also, 152,400 tons of U.S. corn were sold to unknown destination for 2009-2010. November soybeans were down 9.5 cents at $10.06. December corn closed down 11.75 cents at $3.575, the lowest close in nearly seven months with good growing weather in the midwestern U.S. Also, Tuesday's bearish acreage report continues to weigh on prices. Livestock
Coffee
Energies
September crude oil fell $2.53 to $67.74, the lowest close in four weeks, pressured by yesterday's increase in gasoline supplies and today's weak U.S. jobs report. Metals
Currencies
The European Central Bank (ECB) met and kept its interest rate unchanged at 1.0%, as expected. ECB President Trichet said that he expects positive growth by the middle of next year. Australia's exports totaled A$20.4 billion in May, the lowest in over a year. The September Australian dollar closed down 1.37 cents at 79.12.
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Live Cattle: Its About Time U.S. cattle inventory is at its lowest level in 50 years and the world's economy should soon be emerging from its present slump. Cattle prices have been down since last fall, but are starting to show signs of significant life. It looks bullish to me (updated 6-22). Medical bills prompt more than 60 percent of U.S. bankruptcies: "Bankruptcies due to medical bills increased by nearly 50 percent in a six-year period, from 46 percent in 2001 to 62 percent in 2007, and most of those who filed for bankruptcy were middle-class, well-educated homeowners, according to a report that will be published in the August issue of The American Journal of Medicine." "Unless you're a Warren Buffett or Bill Gates, you're one illness away from financial ruin in this country," says lead author Steffie Woolhandler, M.D., of the Harvard Medical School, in Cambridge, Mass..." "Overall, three-quarters of the people with a medically-related bankruptcy had health insurance, they say." Read the entire article at >CNN.com June 5, 2009. |
Top News ArticlesPublic Healthcare - Why So Scared? Health Care Stories for America Friday, July 3 U.S. regulators close seven banks
Thursday, July 2 U.S. economy sheds 467,000 jobs in June
Wednesday, July 1
Five Star Articles Why Health Insurance Doesn't Work Like Any Other Report: Health Insurers Hold Billions in Tobacco Stocks Single-Payer: Is Nationalized Health Coverage the Way to Go? U.S. health care lies about Canada U.S. Reliance on Oil an 'Urgent Threat' Where Are The Convictions? - Bill Moyers interview with William K. Black (video) The Vote That Changed Our World - The Gramm-Leach-Bliley Act of 1999 | |||||||||||||
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