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Jobless Claims, Inflation, Trade Deficit Each Surge Higher

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New U.S. claims for jobless benefits rose last week, hardening the view the central bank will pump more money into the economy, and keeping pressure on Democrats poised to lose congressional seats in Nov. 2 polls.

At the same time, record-high imports from China helped push the U.S. trade deficit wider in August, while rising food and energy prices pushed inflation at the wholesale level up twice as fast as expected last month.

Read More – http://www.cnbc.com/id/39666662

 

Applications for jobless benefits rise to 462K

WASHINGTON (AP) — More people applied for unemployment benefits last week, the first rise in three weeks and evidence that companies are reluctant to hire in a slow economy.

Initial claims for unemployment aid rose by 13,000 to a seasonally adjusted 462,000, the Labor Department said Thursday. It was only the second rise in two months.

Read More – http://finance.yahoo.com/news/Applications-for-jobless-apf-647526260.html?x=0&.v=2

 

September home foreclosures top 100,000 for first time

Banks foreclosed on 102,134 properties in September, the first single month above the century mark, RealtyTrac said. There were 347,420 total foreclosure filings in September, 3 percent higher than August and 1 percent higher than a year earlier.

Read More – http://www.reuters.com/article/idUSTRE69D0SF20101014

 

Dollar tanks, stocks drop as Bernanke speech looms

LONDON – European and U.S. stock markets mostly fell Thursday as investors awaited a speech from the Federal Reserve chairman that is expected to give more clarity on what the central bank is planning to do to prop up the ailing U.S. economy.

However, the prospect of more dollars floating around the system continued to pile the pressure on the currency itself.

Read More – http://news.yahoo.com/s/ap/20101014/ap_on_bi_ge/world_markets_23

 

Dollar hits fresh 15-year-low against yen

TOKYO – The dollar fell to a fresh 15-year-low against the yen in Tokyo on Thursday amid growing speculation that the U.S. Federal Reserve will ease monetary policy next month.

Read More – http://news.yahoo.com/s/ap/20101014/ap_on_bi_ge/as_japan_dollar

Tom Tillison

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