Quote for the day:
In the news:
The U.S. unemployment rate jumped from 5% to 5.5%. This was the largest jump in 22 years and is at the highest level in 3.5 years. 49,000 jobs were eliminated from payrolls in May, the fifth month in a row of job losses.
The number of companies at risk of getting a credit downgrade from Standard & Poors is at a record high rising to 738 in May, up 25 from April and 118 from a year ago. In the coming months, credit defaults are expected to rise from record lows of about 1% to almost 10%.
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