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U.S. labor market boosts economic growth outlook

Thursday June 02, 2016 – U.S. private employers increased hiring in May and new applications for jobless benefits fell last week, further boosting the economic outlook for the second quarter. Another report on Thursday showed planned layoffs by U.S.-based employers fell 53 percent to a five-month low last month. The steady stream of upbeat data suggest the economy is regaining ...

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Apple, energy stocks bring Wall Street down

Thursday June 02, 2016 – U.S. stocks fell on Thursday morning, weighed down by a fall in Apple as well as a drop in energy companies after OPEC failed to agree on output policy. Oil prices dropped about 2 percent and the S&P energy index .SPNY tumbled 1.13 percent. Major oil producers Exxon and Chevron  were down about 1 percent. ...

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Weekly jobless claims fell last week

Thursday May 26, 2016 – Fewer people sought unemployment aid last week for the second week in a row, the latest evidence that hiring is likely solid. Weekly applications for unemployment aid dropped 10,000 to a seasonally adjusted 268,000, the Labor Department said Thursday. The four-week average, a less volatile measure, increased to 278,500. The figures, along with other recent ...

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Obama Administration accused of diverting billions to insurance companies selling Obamacare policies

Tuesday May 24, 2016 – The Obama Administration is unlawfully diverting billions of dollars from taxpayers to insurance companies that sell Obamacare policies. That is the conclusion reached in a legal opinion letter released today by former Ambassador and White House Counsel Boyden Gray. Mr. Gray’s letter reinforces the conclusion of legal experts at the nonpartisan Congressional Research Service who ...

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New home sales rise to eight-year high as prices jump 16.6%

Tuesday May 24, 2016 – Sales of new U.S. single-family homes surged to a more than eight-year high in April and prices hit a record high, offering further evidence of a pick-up in economic growth that could allow the Federal Reserve to raises interest rates soon. The Commerce Department said on Tuesday new home sales jumped 16.6 percent to a ...

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Dollar up on rate hike talk; stocks flat

Monday May 23, 2016 – Global stock markets were little changed and the U.S. dollar gained on Monday as investors weighed the possibility that U.S. interest rates could soon be raised. Commodities were weak across the board. Oil prices fell and were on track for a fourth session of losses as investors worried about global supply, and copper prices fell ...

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Mortgage rates hold near 2016 lows, but maybe not for long, Freddie Mac says

    Thursday May 19, 2016 – Home loan rates were little changed near three-year lows, mortgage provider Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 3.58% in the May 19 week, up one basis point from last week. The 15-year fixed-rate mortgage averaged 2.81%, unchanged during the week. The 5-year Treasury-indexed hybrid adjustable-rate mortgage rose two basis points ...

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