EU Fails Bank Stress Tests Indices Give Back in US <\/p>\n
September 7, 2010 August added 64,000 jobs to the private, non-farm payrolls in the month of August, but more than 100,000 temporary census workers fell off the government payrolls, and the unemployment estimate was raised to 9.6% from the previous 9.5%. Oracle, the third-largest software maker in the world announced today that it had hired former HP CEO Mark Hurd, to be co-President of that company. On the heels of that announcement, it was discovered that HP is suing Mr. Hurd because of the hiring at Oracle, which pushed shares up slightly for Oracle.<\/p>\n
\nEurope\u2019s banks did poorly in stress tests, according to data released today, spurring downturns in the US stock markets. The Dow Jones<\/a> Industrial Average lost more than 100 points today compared to Friday, the NASDAQ<\/a> lost 24 points, and the S&P 500<\/a> lost 12 points compared to Friday. Today\u2019s losses negated last week\u2019s gains, which were spurred by some small gains in the private employment sector. <\/p>\n
\nThe Euro fell slightly against the American dollar today, and crude oil meant for October delivery fell to below $75 a barrel. The drop in oil prices is normal for September. Summer is traditionally a high-demand time for gasoline, but this year demand was low, because the economy kept people at home. September typically is the beginning of the fall season, when gas demand sinks lower. This is expected to keep crude oil prices and gasoline prices steady, or even to lower them a bit. It is uncertain how much prices will sink through the fall and winter months. Much of this will hinge on the economy and demand for crude oil and gasoline. <\/p>\n