MID-DAY UPDATE: Economic news bad. Stock prices good.
Sales of previously occupied homes fell in June; new unemployment benefit plans rose. Yet at this writing, Wall Street’s jumping. What do stock investors know?
Maybe this: Recognize these names? Caterpillar. 3M. UPS. AT&T. Xerox. All are predicting a better day ahead.
Wall Street reporter Jeremy Hobson is getting a reality check. He’s in Memphis talking to a woman who feels like a prisoner in her home because she’s surrounded by boarded-up foreclosures and violent squatters.
Maybe putting down roots isn’t for everyone. The government may back away from a decades-old love affair with homeownership.
Four of the world’s biggest oil companies are forming an oil spill rapid-response unit. BP is not in the club.
The new financial rules overhaul cracks down on ratings agencies. So ratings agencies say fine, we’re out. Whoops.
Oh, and a new study suggests summer vacation … stresses workers out.
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