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Business News

New Jobless Claims Hit 9-year Low


Big boy toy maker, Caterpillar, posted profits almost 17% higher than last year on sales that were down about 4%. Caterpillar cited an uncertain global growth picture that weighed on sales expectations. CAT has seen a revival in its business based largely on strong sales in China, even as activity in the U.S. remains relatively stagnant. (Reuters)

Telecom company AT&T reported second-quarter 2014 profits that were down 7.5%. Significant pricing competition, new device financing plans and other promotional strategies weighed on earnings. (Zacks)

Umpqua Bank reported profits of $17.1 million for the second quarter of 2014, down 29% from last year. The Company's performance included strong organic loan and deposit growth and a higher net interest margin. (Business Wire)

The 10-year Treasury traded at its lowest yield since May as investors bet an uneven economic recovery won’t push the Federal Reserve to accelerate interest-rate increases. The 30-year bonds stayed close to its lowest yield since February 2009. The 10-year stands at 2.47 and the 30-year at 3.26%. (Bloomberg)

The National Retail Federation lowered its retail sales forecast for 2014, citing slow growth during the first half of the year. They now expect retail sales to grow 3.6 percent this year, down from its 4.1 percent forecast in January. (Associated Press)

New unemployment claims for last week were down 19,000 to 284,000. They now set at their lowest level since 2005. (Reuters)
 


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