The Jacobsen Commentary and Market Opinion
Courtesy of www.thejacobsen.com

On the economic front on Friday, mixed news was the venue once again. The US banking sector increased stock shares after an RBC Capital markets analyst said the worst of the financial crisis was over. Balancing the positive news, US retailer reports for May sales declined further than expected. According to a Golden Sachs/ICSC tally, overall same store sales dropped 4.6%. US employment for May was mixed with job losses down 345,000, the lowest it’s been since September, but the employment rate jumped to 9.4% from 8.9% in April.

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