The Week Unpeeled
The economy exhibited further signs of strength, with the closely watched US employment report showing that payrolls grew by 195,000 in June, while the jobless rate held at 7.6 percent. The growth will clearly spark Fedtaper talk, which iscertainly crushing bond prices, but stocks markets responded positively with the Dow closing Friday at 15,135, or 1.5 percent higher forthe week.
- Egypt army ousted the nation’s first democratically elected president and put in place a provisional government amid extreme turmoil;
- SAC Chief Steve Cohen has likely avoided insider-trading charges, with US prosecutors saying they have not gathered enough evidence;
- The former and infamous Groupon founder has dropped a soft-rock album with “motivational business messages,” according to the Financial Times, called “Hardly Working” about HR issues and quarterly reporting. Move over JZ Magna Carta;
- Where’s Snowden continued throughout the Fourth of July weekend amid false reports at one point he was headed to Bolivia;
- And Andy Murray won Wimbledon, besting Novak Djokovic, for the firstBritish win to the all-grass tournament in 77 years.