President Barack Obama said that regulatory authorities are evaluating the unusual market activity on Wall Street
Sam Adelton
May 7, 2010

Obama commented on Friday's report that the economy had added 290,000 jobs last month while the unemployment rate inched up to 9.9 percent.

He said regulators would make public their findings and recommendations about the stock market. Obama also said he spoke Friday morning with German Chancellor Angela Merkel about the economic situation in Europe.

"I made clear that the United States supports these efforts and will continue to cooperate with European authorities and the (International Monetary Fund) during this critical period," Obama said. Merkel's spokesman, Ulrich Wilhelm, said in a statement that the two leaders expressed confidence that various measures taken would lead to a "sustainable stabilization of financial markets." The White House said Obama is getting regular updates on the situation in Greece. The IMF board of directors planned to meet Sunday in Washington to approve a $40 billion loan to Greece as part of the rescue package.

President Barack Obama said that regulatory authorities are evaluating the unusual market activity on Wall Street
Sam Adelton
Obama commented on Friday's report that the economy had added 290,000 jobs last month while the unemployment rate inched up to 9.9 percent.
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