Financial 411: The Business Week Ahead
Monday, July 11, 2011
It was a rocky start to trading this week, as fears about Europe's debt crisis seized investors. The Dow fell 151 points, to close at 12,506 on Monday. The S&P 500 dropped 24 points, to end at 1,319. And the Nasdaq dropped 57 points, to close at 2,803.
It's not just European debt that's worrisome. There's also an ongoing debate in Washington, D.C., over raising the U.S. debt ceiling. Negotiations broke down this weekend, and President Barack Obama spoke about the issue again on Monday, putting pressure on both parties after meeting with Congressional on Sunday.
"We're going to meet every single day until we get this thing resolved," he said.
The president has made it clear he will not approve any short-term deals on the debt limit, and he said compromise is necessary to reach an agreement by August.
This week is also the start of the second quarter earnings session. Economists are keeping a close watch, after last week's dismal jobs report. WNYC's Business Editor Charlie Herman will review this week's business headlines.
New York Works: Astrovisualizer Carter Emmart
Right now, above our heads, the space shuttle Atlantis is circling the earth. It's the last and final flight for the shuttle program after 30 years.
For the next generation of astronauts wanting to travel to outer space, they might have to settle for a trip to the planetarium instead. That's where reporter Tracey Samuelson finds the man who creates those shows. Carter Emmart, an astrovisualizer at the Hayden Planetarium at the American Museum of Natural History. He's the latest subject of our series, New York Works.
Let us know who you think we should profile next, in the comments section below.