Posted: Jun 18, 2012 9:11 AM by KPAX News Staff
Updated: Jun 18, 2012 9:59 AM
Europe's financial meltdown is expected to dominate the G20 summit in Mexico. But investors aren't holding out much hope that the world's most powerful leaders will come to any solutions to Europe's problems.
Economists say they don't expect to see the same kind of unity among the leaders that we saw during the U.S. financial crisis of 2008.
The Federal Reserve could announce steps to boost the U.S. economy as early as this week. Stocks rallied Friday on the hopes that a stimulus package would be unveiled at the Fed's policy meeting. The Dow Jones Industrials climbed 115 points while the NASDAQ rose 36 points.
The unemployment rate climbed in 18 states in may and fell in only 14. Experts say it's the latest evidence that the job market is weakening. North Carolina lost the most jobs while California added the most.
Microsoft is expected to take the wraps off its new tablet this week. It will reportedly run the next version of Microsoft's Windows Operating System under its own brand. The Windows 8 tablet aims to win back consumers who have turned to Apple's iPad.
Sales of video games fell for a sixth straight month in May as sales of hardware, software and accessories slid 28% compared to a year ago. That news sent shares of the retailer Gamestop to their lowest level in 2 ½ years.