SamTrader1
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ECONOMIC NEWS
In the US, hiring picked up in July as the Labor Department reported employers added 117,000 jobs last month and the unemployment rate dipped to 9.1 percent. Even more stunning was the news from the ratings agency of S&P.
Standard & Poor’s, one of the world’s three major credit rating agencies, cited “difficulties in bridging the gulf between political parties” as a major reason for the downgrade from US’s top shelf AAA status to AA+, the next level down. The rating agency has essentially lost faith in Washington’s ability to work together to address its debt.
The downgrade, hours after markets closed on Friday, is a first for the US since it was granted an AAA rating in 1917. S&P warned about a downgrade as far back as April.
THE WEEK AHEAD
MONDAY: Employment trends index
TUESDAY: NFIB small biz optimism index, productivity and costs, 3-yr note auction, FOMC mtg announcement; Earnings from Disney
WEDNESDAY: Weekly mortgage apps, wholesale trade, oil inventories, 10-yr note auction, treasury budget; Earnings from Macy’s, Cisco
THURSDAY: International trade, jobless claims, 30-yr bond auction, money supply; Earnings from Kohl’s, Nordstrom
FRIDAY: Retail sales, consumer sentiment, business inventories; Earnings from JCPenney
Binary Options Trading analysis written by David Frank
ECONOMIC NEWS
In the US, hiring picked up in July as the Labor Department reported employers added 117,000 jobs last month and the unemployment rate dipped to 9.1 percent. Even more stunning was the news from the ratings agency of S&P.
Standard & Poor’s, one of the world’s three major credit rating agencies, cited “difficulties in bridging the gulf between political parties” as a major reason for the downgrade from US’s top shelf AAA status to AA+, the next level down. The rating agency has essentially lost faith in Washington’s ability to work together to address its debt.
The downgrade, hours after markets closed on Friday, is a first for the US since it was granted an AAA rating in 1917. S&P warned about a downgrade as far back as April.
THE WEEK AHEAD
MONDAY: Employment trends index
TUESDAY: NFIB small biz optimism index, productivity and costs, 3-yr note auction, FOMC mtg announcement; Earnings from Disney
WEDNESDAY: Weekly mortgage apps, wholesale trade, oil inventories, 10-yr note auction, treasury budget; Earnings from Macy’s, Cisco
THURSDAY: International trade, jobless claims, 30-yr bond auction, money supply; Earnings from Kohl’s, Nordstrom
FRIDAY: Retail sales, consumer sentiment, business inventories; Earnings from JCPenney
Binary Options Trading analysis written by David Frank