AP - Oil prices made their biggest single-day leap ever Friday, dragging the Dow Jones industrials down nearly 400 points and raising the once-unthinkable prospect of $150 oil and more record gas prices by the Fourth of July.
Reuters - U.S. employers shed jobs for a fifth
straight month in May and the unemployment rate jumped to its
highest in more than 3-1/2 years, partly because more people
were trying to come back into the workforce, a Labor Department
report on Friday showed. -- read full article
AFP - US unemployment in May unexpectedly surged by the strongest increase in two decades, Labor Department data showed Friday, raising warning flags that the economy is headed in the wrong direction.
Reuters - Oil surged, the dollar weakened and
government debt turned strongly higher on Friday after an
unexpected jump in the U.S. unemployment rate rattled investors
who believe the American economy was recovering.
AFP - The European single currency jumped close to 1.57 dollars on Friday as traders digested news that the US unemployment rate soared to 5.5 percent in May.
Reuters - The U.S. unemployment rate surged to
5.5 percent in May, its highest in more than 3-1/2 years, as
the barely growing economy lost jobs for the fifth straight
month.
AP - Treasury prices rebounded Friday as stocks plunged, with investors returning to less risky assets after a government report revealed a significant jump in the unemployment rate and as oil surged to new record highs. -- read full article
Reuters - President George W. Bush on Friday
said the weak data in the government's employment report for
May was consistent with an economy facing a slow growth period. -- read full article
Reuters - U.S. stocks slid on Friday on renewed
fears the U.S. economy faces 1970s-style stagflation after
government data showed the unemployment rate jumped the most in
22 years in May and the price of oil hit a record.
Reuters - U.S. stocks rose the most in more than
a month on Thursday after Wal-Mart and other retailers posted
stronger-than-expected May sales and data showed a surprising
fall in weekly jobless claims, spurring optimism about the
economy's health.
AP - Treasury prices fell Thursday after the European Central Bank suggested rising inflation might lead it to raise interest rates soon. -- read full article