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So was that it? Is the so-called market correction over?
Treasury prices were higher Friday after the government reported that unemployment spiked to 10.2% -- its highest level since April 1983.
London’s Asian art festival is full of surprisesASIAN Art in London—the city’s week-long late-autumn flowering of dealers’ shows and daily auctions, which ended on November 7th—was characterised by some beautiful exhibitions, an unprecedented flood of Chinese visitors and an assortment of auction sales that included some lots that went through the roof, others that failed utterly and a few notable pieces that were withdrawn on suspicion that they may have been fakes.Christie’s had the hardest time of it. Despite the bullish market for Chinese ceramics and fi
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ne art, 104 of the 319 lots offered in its November 3rd auction failed to sell, suggesting that buyers, even those who have travelled far, are quick to punish sellers who are too greedy or cataloguers who are too enthusiastic in their assessments. Gilt-bronze figures were cast aside willy-nilly, as was a consignment of bronze plaques and, perhaps more surprisingly given their popularity, a number of jade animals and figures. ...
Gold powered through $1,100 an ounce Friday after the U.S. government said the nation's unemployment rate rose more than expected last month, fueling demand for the metal as a safe haven.
Wildfires are getting fiercer and more frequentAS WOODLANDS in the warmer parts of the northern hemisphere come to the end of their fire season and their counterparts south of the equator prepare for the worst, people have begun to rethink how best to fight the wildfires, which seem to be getting fiercer and more frequent. With less winter snow on mountains as average temperatures rise, woods in many regions are drying out and becoming ever more vulnerable to fire. The deadliest wildfire in Australia’s history, which scorched a broad swathe of the landscape north-east of Melbourne earlie
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r this year and killed more than 200 people, has prompted local authorities to question the country’s long-standing policy of allowing residents to stay behind to defend their homes as the flames roar through. Meanwhile, mistakes made in the early stages of a wildfire that raged across the mountains overlooking Los Angeles in August turned a containable blaze into the county’s worst conflagration ever. In both instances, a heatwave following years of drought provided tinder for an arsonist’s match. ...
Stocks turned higher Friday after an opening selloff, as investors eyed a weaker than expected October jobs report that saw the unemployment rate spike to a 26-year high.
Stocks rallied Thursday, with the Dow industrials topping 10,000, after the government reported a bigger-than-expected drop in jobless claims, and a number of retailers reported improved October sales.
Could a former president of Latvia make it as the European Union president?OPTIMISTIC Latvians are thin on the ground these days. The combination of fractious politics and a dismal economic outlook blunts the enthusiasm of even the most cheerfully patriotic soul. All the more reason, therefore, to applaud the announcement that the country’s former president, Vaira Vike-Freiberga, is running for the job of president of the European Union.At first sight, Ms Vike-Freiberga’s chances seem vanishingly slim. And at a second glance they don’t look much fatter. On the plus side, she
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speaks perfect French. She is a woman. And she has no big enemies. Observers of Latvian politics in the years 1999-2007 (admittedly, not exactly a mainstream hobby in Brussels) remember her as an uncommonly effective president of that country. She proved a powerful bulwark against over-mighty tycoons bent on suborning Latvia’s independent institutions and a strong defender of probity in public office. ...
U.S. stocks were expected to open lower Thursday, as investors remained jittery ahead of a flurry of economic data.
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