The Dow Jones Industrial Average hit
a milestone yesterday closing above 16,000 for the time time in its 128
year history finishing at 16,009.99. Stock prices have been gradually
improving in the past year fueled by an improving economy, positive
corporate earnings and low interest rates due to the Federal Reserve's
easy-money monetary policy. The index is made up of thirty large
publicly owned companies based in the U.S.
The Labor Department reported
this morning in its Regional and State Unemployment Summary that
unemployment rates were little changed in October. Twenty-eight states
had unemployment rate decreases from September, 11 states and the
District of Columbia had increases and 11 states had no change. The
national unemployment rate was 7.3% in October and is 0.6 percentage
points lower than in October 2012.
Online Real Estate company
Zillow reported on Thursday that negative equity rates fell at their
fastest pace ever in the third quarter, plunging by 21% of all
homeowners with a mortgage. There are 10.8 million homeowners
underwater, owing more than the home is worth, down 4.9 million from the
peak in the first quarter of 2012.
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