Friday, July 13, 2007

Economic Week in Review: Dow Closes Record High

During a relatively light week for economic news, the highlight was Thursday's surging stock market, as the Dow Jones Industrial Average gained 284 points to close at a record high. Elsewhere, the U.S. trade deficit in goods and services swelled to $60.0 billion in May. Other news was mixed, as demand for consumer credit rose, jobless claims decreased, retail sales declined, and business inventories edged higher. For the week, the S&P 500 Index gained 1.5% to 1,553. The yield of the 10-year U.S. Treasury note fell 9 basis points to 5.10%.

Read more here from Vanguard's Economic Week in Review.


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