The Federal Reserve, which prides itself on never having lost a dime on a loan it made, is sitting on almost $1 billion of debt in a hotel chain that filed for bankruptcy court protection.

Without further signs of life in the lackluster economy or hints from the Federal Reserve the outlook is improving, stocks’ three-month rally may run into more obstacles next week.

Hoenig: Fed needs exit strategy

Caution has once again overcome the stock market. Stocks finished mixed Friday, leaving all the major indexes with their first weekly loss since early May. Tech, financial and retail stocks gained, while utilities and energy stocks were lower.

The housing bust sent the unemployment rate in the West bolting past 10 percent in May — the first time in more than 25 years that a region of the United States has suffered double-digit joblessness.

The state’s unemployment rate jumped to 7.1 percent in May, according to figures released by the Texas Workforce Commission on Friday.

Treasury prices posted a modest rebound Friday as investors bought up government debt ahead of a round of auctions next week.