The Motley Fool – The first Friday of every month brings the all-important employment report. February’s numbers were better than anticipated. The United States lost only 36,000 jobs, versus the 68,000 that experts expected. This compares with 651,000 jobs lost in February 2009. Still, the unemployment rate held steady at 9.7%, with the unofficial rate stuck around a whopping 16%.
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AFP – Borrowings by Americans rose for the first time in a year in January, the Federal Reserve said Friday in a sign that the US economic recovery is on track.
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AP – The Treasury Department was forced Friday to reiterate its financial support for Fannie Mae and Freddie Mac after a key lawmaker rattled investors by pointing out that their debt does not enjoy the explicit guarantee of the federal government.
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Reuters – Stocks jumped and the Nasdaq hit an 18-month closing high on Friday as U.S. employers cut fewer jobs than expected last month and consumers showed signs of shedding their penny-pinching ways.
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Reuters – Sentiment of U.S. households in the top fifth of the income distribution improved in early 2010 compared with 2009, but worries over personal finances persist, a survey showed on Friday.
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AP – Among the earnings stories for Friday, Feb. 26, from AP Financial News:
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AP – Conseco Inc., the parent of Banker’s Life and Casualty and Colonial Penn Life Insurance, on Friday posted a fourth-quarter profit, reversing last year’s loss, as sales rose 18 percent and the company lost less on investments than during the market downturn.
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AP – The Mortgage Bankers Association’s quarterly report on foreclosures Friday showed fewer homeowners are starting to fall behind on their loans, compared with the third quarter. But the number of borrowers who have missed at least three payments kept growing.
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AP – Dolan Media Co. said Friday that it is acquiring a 1.7 percent stake in National Default Exchange, bringing its total stake in the mortgage default processing service company to 93.8 percent.
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AP – Wisconsin residents seeking to buy a home for the first time got a boost Friday when the state’s affordable housing agency announced plans to resume lending after a 17-month suspension.
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