Finance Beat 11/16/11

by Chet Galloway

Foreign Students Contributed $20 Billion to US Economy Last Year

An article from USA Today cites state department reports about record numbers of foreign students going to school in the U.S. This increase comes after a four-year slump that began around 2002.

According to data from the Institute of International Education, enrollment of international students increased 4.7 percent last academic year. Additionally, the number of U.S. students attending schools abroad jumped 3.9 percent in the last two years.
IIE president Allan Goodman said the amount of students sent by countries to the U.S. often fluctuates because of the economic and political climate as well as natural disasters.

According to the Department of Commerce, these international students contribute more than $20 billion to the U.S. economy through tuition, supplies, room and board, and various other living expenses.

Financial Markets

The stocks earlier this week were slightly down caused by uncertainty about the debt situation in Europe, specifically Italy. The Dow Jones industrial average fell .61 percent to 12,078, NASDAQ fell by .8 percent to 2,657 and the S&P 500 fell just under 1 percent to 1,251. On Tuesday morning the markets were trading somewhat flat although in positive territory.

The Dow rose by .12 percent to 12,093, the NASDAQ went up by .19 percent to 2,662 and the S&P went up about .1 percent to 1,253.
Bond yields on the 10-Year note continue to fall and on Tuesday morning were at about 2.03 percent.

— Data gathered from Monday and Tuesday’s open on Wall Street by Staff Writer Chet Galloway.