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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Mildly positive numbers on new unemployment claims, foreclosures; stocks open down

The U.S. Department of Labor reports this morning that it counted 462,000 new unemployment claims for the week of March 6. Although that's a decrease of 6,000 from the previous week, analysts polled by Reuters had expected that figure to drop to 460,000. More of the Labor Department’s numbers are available here.

Elsewhere, the Wall Street Journal notes that U.S. foreclosure filings increased six percent in February over the same period last year. That's a positive development, sort of, in that it's the smallest increase in four years, according to foreclosure listing site RealtyTrac.

Such mildly positive numbers aren’t expected to excite investors, and without other significant government or corporate reports expected on the near horizon, it could be another uneventful day for the markets.

So far this morning, the S&P has opened at 1,143.96, down from its close yesterday afternoon of 1,145.61. Nasdaq opened at 2,351.11, down from a Wednesday afternoon close of 2,358.95.

-- Mike Musgrove

By Jennifer Abella  |  March 11, 2010; 9:39 AM ET
 
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Comments

Wildly positive numbers would be nice. If you're wondering what it's worth, it means the world to me. This crisis is growing and it's worth money to burn.

Posted by: tossnokia | March 11, 2010 10:40 AM | Report abuse

An Idea to Help Balance the Budget!

There are 2.6 trillion stock transactions per year in the USA. If there were a ONE DOLLAR FEE on every transaction, that would create an extra 2.6 TRILLION DOLLARS for our BUDGET. It would only cost an individual who bought or sold stocks 1 extra dollar each time they executed a stock order. We could call it
“A CHARGE TO REBUILD AMERICA.”
Can you think of a reason this wouldn't work?" Can you think of a way to make it work?

Posted by: jcm124 | March 14, 2010 8:06 PM | Report abuse

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