The Week Unpeeled
Although the Dow snapped its recent losing streak, up by only 0.4 percent for the week to end at 12,004 on Friday (still down for the month by 4.5 percent), U.S. economic data seemed subdued, with pundits focusing on a jobless recovery, the IPO market party “winding down” (Pandora losing value after its launch and Ally postponing offering) and Greece debt problems continuing to make headlines (although Germany relaxed its stance a bit which helps rescue plans).
- Rep. Anthony Weiner resigned soon after his wife came home from her business trip in another apologia to the public (see more below);
- US regulators delayed rulings on derivatives, with no clear start date clearly stated;
- The retailer world got a surprise move when JC Penney announced that it hired Ron Johnson from Apple stores as its chief executive;
- The Tea Party in Florida is planning to offer a summer camp that instructs kids that “America is good” and “government cannot force me to be chartable,” according to “Only in America” last week in The Week; and
- Rory Mcllroy wins the US Open at 22 years old with record-setting 16 under par and Wimbledon kicks off Monday