Thursday, July 07, 2005

Quick Overview

  • First-time claims for state unemployment benefits rose by 7,000 to 319,000 last week, the Labor Department said Thursday. The gain was in line with expectations.

  • In The Latest AAII Poll Bullish sentiment fell to 43.01% from 45.89%, the bearish sentiment fell to 20.43% from 29.45% during the previous week. The percentage of investors who described themselves as neutral on the stock market rose to 36.56% from 24.66%.

  • Drought affecting the agriculturally important state of Illinois deepened to extreme levels last week, according to a national summary issued Thursday by the U.S. Department of Agriculture, National Weather Service and National Drought Mitigation Center in Lincoln, Neb.

  • Intermodal trailer and container volumes were up 6.9%, and carload freight was up 0.7% for the week ended July 2, in comparison with the corresponding week last year, the Association of American Railroads reported Thursday.

  • There is confusion over the potential path of Hurricane Dennis, and if it would bring beneficial rains to parched eastern Midwest growing areas, analysts said. The U.S. corn crop is in its yield-determining pollination stage, and rains are critically needed in key producer Illinois.

  • Australia's unemployment rate dropped from 5.1% to 5.0% in June, the lowest in 29 years.

  • The DOE said that crude oil supplies were down 3.6 million barrels last week to 324.9 million barrels. Unleaded gasoline supplies were down 900,000 barrels and heating oil supplies were up 2.7 million barrels. The DOE said that underground supplies of natural gas were up 63 billion cubic feet last week at 2.186 trillion cubic feet.

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