If there’s one thing money managers agree on, it’s that the U.S. is headed toward a higher rate of inflation.

The Texas Workforce Commission says the state’s unemployment rate jumped to 7.1 percent in May. That’s up from a revised 6.6 percent jobless rate in April, which means it an even tighter job market for would-be Texas workers.

Mary Engle Pennington knew that seeing was believing.

Latin American stocks were mixed on Friday, ending the week down as central banks signaled that the end to six months of interest rate cuts may be drawing near as the global economy appears to stabilize.

Two more directors have resigned from Bank of America Corp.’s board, according to a securities filing Friday. The Charlotte, N.C.-based company said in a Securities and Exchange Commission filing that Joseph Prueher and Tommy Franks left on Wednesday.

Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market: NYSE:

Brash Texas billionaire R. Allen Stanford was indicted Friday on charges his international banking empire was really just a Ponzi scheme built on lies, bluster and bribery.

Yahoo Inc. says laying off nearly 700 workers will cost between $30 million and $34 million in severance pay and other related expenses.

JPMorgan Chase & Co. said Friday it expects to record a $1.1 billion charge against its second-quarter earnings from its early repayment of $25 billion in taxpayer money the bank received under a federal bailout program.

The S&P 500 and Nasdaq rose on Friday as positive broker comments on Microsoft boosted technology shares, but the major averages lost ground for the week for the first time in five weeks.