Financial 411

Markets

Stocks were mixed Friday. The Dow declined 43 points, ending the week at 12,681. But positive reports from chipmakers pushed the Nasdaq 24 points higher, to 2,859. The S&P 500 gained a single point, settling at 1,345.

Latest Unemployment Numbers

New York State and New York City both saw their June unemployment rates tick up to 8 percent and 8.7 percent, respectively. In the city, the securities industry shed 2,000 jobs last month. Local government took an even bigger hit, losing 2,700 jobs. Restaurants and private schools have added the greatest number of positions since the city hit economic bottom in September 2009.

Debt Talks Continue on Capitol Hill

President Barack Obama said he's now open to a short-term deal to raise the nation's debt ceiling if it will allow time for a broader plan to be put in place. There are 13 days left before the August 2 deadline, when the U.S. risks defaulting on its financial obligations.

City officials want to attract a major research institution to open a new science and engineering campus in New York City.

News Corporation's phone-hacking scandal continues to grow. Dow Jones CEO Les Hinton has announced he's resigning. He was chairman of News International, overseeing the British newspapers that are at the heart of the scandal.

The scandal may have just jumped the pond. The FBI has opened an investigation into allegations that Rupert Murdoch's News Corp. tried to hack the phones of September 11, 2001, victims. The company told WNYC it has no comment.

Markets

After three days of losses, markets returned to positive territory on Wednesday, spurred on by Federal Reserve Chairman Ben Bernanke's comment that the Fed is prepared to do more to stimulate the economy if it falters. News Corporation added 58 cents after the beleaguered media giant announced it will abandon a bid for full control of a British satellite broadcaster.

Markets fell on Tuesday after the rating agency Moody’s cut Ireland’s credit rating to junk status. The Dow dropped 59 points, closing at 12,447. The S&P 500 was down six points, closing at 1,314. The Nasdaq fell 21 points, closing at 2,782.

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.

Rental brokers are reporting their second quarter numbers, and they say the market for apartments is tightening.