July 26, 2010 – On Monday FedEx, the second largest package delivery company in the world, raised its earnings forecast for the full year as well as the current quarter.
The company said its air and truck shipments for high value goods such as cell phones, computers, drugs, electrical components and medical supplies are exceptionally strong [...]
July 23, 2010 – Early today a report in the Spanish newspaper El Pais raised concern that a number of savings banks in Spain had failed banking tests. Consequently the euro was down against the yen and the dollar in global forex trading.
This report led to more concern about upcoming reports about European bank [...]
July 20, 2010 – On Tuesday the Treasury Department said that approximately 530,000 borrowers fell out the Obama administration’s flagship program that was designed to rescue people who are at risk of foreclosure.
Close to 1.3 million homeowners had enrolled in the program since its inception in March 2009. More than 40% have already fallen [...]
July 19, 2010 – On Monday the National Association of Home Builders indicated that the monthly Builders’ sentiment reading sunk to its lowest level since March 2009.
Readings under 50 indicate negative sentiment about the housing market. The most recent reading was 14.
Interest rate and real estate analyst at Weiss Research, Mike Larson, said, “With [...]
July 16, 2010 – U.S. shoppers are finding some bargains because consumer prices have fallen for the third straight month.
On Friday the Labor Department reported that the CPI (Consumer Price Index) dropped 0.1% in June. The prices for energy, airlines fares, some food items, computers, personal care products, and telephone services accounted for the [...]
July 13, 2010 – The federal budget deficit exceeded $1 trillion and there are still 3 months left in this budget year.
What adds to the impact of these numbers is that June has usually been a surplus month. That’s because the federal government collects corporate tax payments and tax payments from individuals who make quarterly [...]
July 11, 2010 – Due to Republican obstructionism in the United States Senate Congress was not able to extend unemployment benefits before their Fourth of July recess.
Consequently, on July 3rd 1.7 million Americans lost their unemployment insurance.
If the Congressional stalemate continues then a total of 3.2 million people will lose their unemployment insurance [...]
July 9, 2010 –The Dow Jones Industrial Average (DJIA) closed the week up 59 points at 10,198.03. The 5.3% rise for the week is the largest weekly advance for a year.
Over the past week the Dow gained 512 points.
Broader indexes posted even more substantial gains.
As often happens during the summer months, though, trading volume [...]
July 9, 2010 – According to Fitch Ratings, delinquencies among United States commercial loans that are backed by securities saw their smallest increase in eleven months. In June they increased by 8.14%.
Although the news is positive, Fitch cautions that it is probably more of a blip than a trend.
Commercial mortgage-backed securities are pools of [...]
July 8, 2010 – Borrowers who have not been having any luck trying to get a loan modification with their mortgage holder will be happy to know about the recently initiated loan modification process.
Due to the low percentage of permanent modifications that are being offered the Treasury Department is now offering struggling homeowners a streamlined [...]
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