Posted: Jul 9, 2012 8:31 AM by KPAX News Staff
Updated: Jul 9, 2012 8:32 AM
Wall Street hopes to turn things around after a disappointing jobs report sent stocks lower. The Dow Jones Industrial Average dropped 124 points on Friday and the NASDAQ was off 39 points, wiping out last week's gains.
Businesses added 80,000 jobs in June, less than expected and the unemployment rate remains at 8.2%. Fourteen states have unemployment rates below the national average.
An oil drilling boom helped North Dakota achieve the lowest unemployment rate at 3%, Nebraska is second at 3.9%, South Dakota is at 4.3% and Vermont is next at 4.6%.
If you wake to find your computer isn't working.. You might be a victim of a malicious computer virus. The government took control about a year ago and was keeping those computers going on backup servers. But it pulled the plug this morning. If your screen went dark, you'll need to call your service provider to get back online.
The mortgage market appears to finally be stabilizing -- as long as you ignore loans backed by the Federal Housing Administration. Increasingly, FHA-insured loans are falling into foreclosure or serious delinquency, moving in the opposite direction of loans guaranteed by Fannie Mae and Freddie Mac or those held by banks, which are all showing signs of improvement.
- information from CNN included in this report.