10:19 AM
Freddy
Today, some news have strengthened the opinion that the market have found its bottom as Best Buy announced its smaller-than-expected profit. Beside that, an auction on seven-year Treasury notes has also increased the investors' optimism.
Best Buy reported its 23 percent drop in profit, but the drop of its profit are smaller than analysts' expectations. This report showed that the shoppers' power have increased.
On the other side, The Labor Department said that the total number of people claiming benefits increased to 5.56 million last week. This is the highest record on unemployment since 1967..
Posted in: News
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