By Tony Stevenson/SWBC Mortgage Economic
By Tony Stevenson/SWBC Mortgage
Economic News Week: October 10, 2011
Markets rallied this week amid signs that the European Union was closer to resolving the debt woes of its weakest members, and U.S. economic data lessoned recession fears. The Dow rose 1.7% this past week as it ended at 11103. The indexes did drop on Friday as Fitch Ratings issued ratings cuts for Italy and Spain. The U.S. added 103,000 jobs in September according to the Labor Department on Friday.-the most since July. This beat expectations but the unemployment rate remains at 9.1% from August. “The jobs number was better than expected. It’s better than a poke in the eye. (But) I think that Europe is the thing that matters more,” said Karl Mills, president and chief investment officer at Jurika Mills and Keifer in an article in this past weekend’s Wall Street Journal Report.
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