Personal Loan Blog

Beijing, China (AHN) – China’s exports fell in January by 0.5 percent compared to a year earlier marking the first decline in two years, data showed Friday

Exports dropped to $149.94 billion while imports dived by 15.3 percent to $122.66 billion.

Despite the declines China’s trade surplus grew to $27.28 billion in January up from $16.52 billion the prior month.

Part of the decline was because many factories cut back production or close their doors for the Chinese Lunar New Year holiday, also known as the Spring Festival, which fell in January this year. Workers generally want to travel home to celebrate the holiday with family.

However, analysts say the slowdown is further evidence that China’s economy is taking a hit from continued weakness of demand from the struggling U.S. and eurozone economies.

 

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New York, NY, United States (AHN) – Wall Street opened lower Friday after a report showed that the U.S. economy expanded less than forecast..

Just after the opening bell, the Dow Jones Industrial Average was lower by 33 points, the Standard and Poor’s 500 Index was flat and the NASDAQ was up by about 6 points.

Weighing on stocks was a report that showed the U.S. economy expanded at 2.8 percent in the fourth quarter, less than the 3 percent that had been projected.

In Europe the Stoxx Europe 600 Index slipped 0.7 percent as investors await word on developments on the region’s sovereign debt crisis. European Union Economic and Monetary Affairs Commissioner Olli Rehn said authorities are “very close” to reaching an agreement on private-sector involvement in a Greek debt swap.

Despite those words of optimism, the dismal growth of GDP in the U.S. was keeping investors cautious. The health and growth of the U.S. economy is a very important and leading indicator of economic growth worldwide. As analysts like to say, “when the U.S. sneezes, the world catches a cold.”

In corporate news, Ford fell after reporting numbers that missed estimates. Starbucks shares slipped despite reporting better than expected numbers, and Juniper Networks plunged after the second biggest maker of computer networking equipment forecast sales and profits that missed estimates.

In commodities, oil was unchanged at $$99.60 a barrel, gold rose $4.70 to $1,725 a troy ounce and silver was up a few pennies at $33.63.

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The 11th District Cost of Funds Index was nearly 10 basis points lower in April. It was the 10th consecutive month that COFI was lower. The index is at its lowest level since October 2009.

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The loan targets were agreed under a controversial pact with the Government known as Project Merlin, signed in February following lengthy talks between the banks and the Treasury.

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NEW YORK (MarketWatch) — Treasury prices edged up for a fourth day Tuesday, pushing 10-year yields to their lowest level since mid-March, continuing a trend as investors reconsider the outlook for …

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NEW YORK (MarketWatch) — Treasury prices extended gains on Thursday, pushing yields down toward five-week lows, after a pair of U.S. reports showed that weekly jobless claims jumped and that the …

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London, United Kingdom (AHN) – Unemployment fell by 17,000 in the United Kingdom to 2.48 million during the three months ending in February.

That brought the unemployment rate to 7.8 percent, according to the Office for National Statistics (ONS).

It marked the first time since last fall that unemployment fell in the UK.

However, the number of people claiming unemployment compensation payments rose to 1.45 million, ONS officials said.

The unemployment rate for men fell by 31,000 while the number of jobless women rose by 14,000 for the three months ending in February. Some 462,300 women are claiming jobless benefits, which is the highest number since October 1996.

Along with women, people in the 16- to 24-year-old group saw unemployment rise by 143,000 to 963,000. However, people in the 50- to 64-year-old age group had no change in their unemployment rate of 4.8 percent, while the rate for those over 65 fell to 1.9 percent.

The total number of unemployed people rose by 143,000 people to 29.23 million, according to ONS statistics.

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NEW YORK (MarketWatch) — The dollar fell further and Treasury prices held onto gains on Tuesday after data showing U.S. import prices rose more than expected and the trade deficit narrowed less than analysts forecast. The dollar index , a measure of the U.S. unit against a basket of six other currencies, traded at 74.754, down from 74.989 in late North American trading on Monday. The euro rose to $1.4509, versus $1.4445 Monday, and the dollar fell about 0.6% versus the Japanese yen . Yields on 10-year notes , which move inversely to prices, fell 7 basis points to 3.52%. U.S. bonds were in demand before the data as the situation with Japan’s nuclear plant got worse. Strategists at RBS Securities said “Treasurys rallied in Tokyo as Japan upgrades the accident rating to 7,” in regards to its nuclear power plant that’s been leaking radiation since the massive earthquake and tsunami nearly a month ago.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Washington, DC, United States (AHN) – The number of jobless Americans filing first time claims for unemployment compensation benefits fell by 6,000 to 388,000 for the week ending March 26, the Labor Department said Thursday.

While the weekly number fell, the four-week moving average rose slightly by 3,250 claimants to 394,250, from the previous week’s revised average of 391,000. The jobless rate bounces around slightly from week-to-week, but it has generally been trending downward since the beginning of the year.

The percentage of unemployed Americans covered by unemployment compensation insurance remained stable at 3 percent for the week ending March 19, unchanged from the previous week.

The number of people filing ongoing claims for jobless benefits dropped by a modest 51,000 claims to 3,714,000 during the week ending March 19, the most recent week that data is available.

A total of 8,770,443 Americans claimed benefits in all jobless programs for the week ending March 12, the latest week for which such data is available.

In addition, extended benefits were available in 35 states and the District of Columbia for the week ending March 12. That number has remained stable since last year.

Those states were Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia and Wisconsin.

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Treasury prices are mostly dipping after a tepid auction of $35 billion in five-year notes.

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