Posted on 08/19/2010 7:11:02 AM PDT by Qbert
NEW YORK (AP) -- Stocks fell Thursday after the Labor Department said claims for unemployment benefits rose unexpectedly last week, renewing concerns about the pace of the economic recovery.
The disappointing news about the jobs market came minutes after news that Intel Corp. was acquiring McAfee Inc. The deal, valued at $7.68 billion, helped to cushion the blow from the jump in unemployment benefit claims.
The Dow Jones industrial average fell 29 in early morning trading. Broader indexes also fell.
The two announcements are the latest to provide a conflicting picture of the recovery. Economic reports have regularly shown the pace of a rebound is slowing and companies are skittish about adding new workers. That has hurt stocks on some days in recent weeks. It has also stoked fears about the economy falling back into recession.
(Excerpt) Read more at finance.yahoo.com ...
Maybe the drop has something to do with Soros selling everything off?
Economic Recovery...Ha ha...10% Unemployment and rising jobless claims. Some recovery.
No way! I can’t believe it says ‘unexpectedly’!!!
Yeah, and the US media HAS to be the more clueless organism on the face of the earth.
I want an investigation of who’s behind these unemployment
numbers-Nancy Pelosi.
Has any economic news been “expected” since Obama took over?
Always “Unexpectedly” - what are the qualifications for working in the Bureau of Labor Statistics? - can’t be be too tough.
Its only unexpected to liberals. They have no clue how economies work and probably don’t care as long as they can leach off someone else.
Ahhh, the old “unexpectedly.” Funny how that word crops up only when there is a (D) in office.
Actually, the REAL unemployment rate is closer to 20% than 10%.
“Recovery Summer” - Obama’s “mission accomplished” moment.
Let them keep this up. Since the beginning of this administration everything going south is unexpected and if they keep up this tune, everyone will know just how incompetent these fargin maroons really are.
Someone with an ounce of comeptence would not have everyhing that happens to be unexpected. One might consider the notion these people consider the sunrise as unexpected.
Could be. Did you see that Soros’ buddy Druckenmiller was closing shop, too?:
http://www.marketwatch.com/story/druckenmiller-exit-highlights-global-macro-woes-2010-08-18
Hope and change baby!
“Unexpectedly.”
Hypebole is the best thing ever!
Every week they say it’s unexpected. Well it is expected and it will not change until they admit their policies are a failure and change course (and they don’t seem to be budging when it comes to tax and spend.) November is our only hope.
When Bush was in office, when good economic news came out, the media reported it as "better than expected".
Recovery Bummer indeed.
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