New U.S. claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that suggested hiring in August was steady but not robust.Meanwhile, the Labor Department says the Consumer Price Index rose 0.5 percent in July, following a drop of 0.2 percent in June. Gas prices accounted for much of the swing. Prices increased by a seasonally adjusted 4.7 percent, after falling sharply in June.Steady but not robust? Brother that is some serious spin.
The core index, which excludes volatile food and energy, rose 0.2 percent. That's below the 0.3 percent rise in each of the previous two months.
Wednesday, August 17, 2011
Posted by traderrob at 10:29 AM