Marketplace: Friday, June 4, 2004

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A look at today's markets (closing numbers)
DOW 46.91 (.46%) ; NASDAQ 18.36 (.94%) ; S&P 500 5.86 (.52%)

Newscast Looks like the job market finally got the memo. It's getting in on the economic recovery on this Friday, June 4th. The monthly employment numbers came out today, and they're good enough to make a White House incumbent crow during an election year. The pick up in the economy is helping pump up Uncle Sam's bank account. Treasury Secretary John Snow said today that federal tax revenues are running higher than expected. That could help the government erase a little of the budget deficit red ink. In Japan, workers are worried. And lawmakers haven't been getting much sleep, either. The problem--a pension reform proposal that would raise premiums and cut benefits. Today legislators there called an emergency midnight session to try and pass the bill. Listen to all newscast items

Features Italy's Moral Debt President Bush arrived in Rome today to commemorate the 60th anniversary of the D-Day invasion. This week, Mr. Bush has drawn parallels between the Second World War and America's war on terror. Prime Minister Berlusconi has been a staunch supporter of the war in Iraq and Italy has stationed about 3 thousand troops there. But thousands of Italians poured into the streets of Rome today to protest the war in Iraq. When it comes to whether Europe should lend its support to repay a moral debt to America - here's what some Italians said. Related Story: Huge crowds protest Bush's visit to Rome Ego Tripping At the Gates of Hell - Flaming Lips Support Marketplace: Purchase this music from Public Radio MusicSource Reflections on America More on D-Day from Marketplace commentator Clive Crook. He's deputy editor of The Economist and comes to us by special arrangement with that magazine. Commentator: Clive Crook In a Landscape - John Cage Support Marketplace: Purchase this music from Public Radio MusicSource The Week on Wall Street - With David Brown We check in with David Brown, Marketplace host who is on Wall Street this week. Q + A: Cheryl Glaser with David Brown The Tiananmen Anniversary Fifteen years ago today over a million people packed Beijing's Tiananmen Square to demand more political freedom and an end to government corruption in China. But the Communist Party ordered the army to force the protestors out. The ricochet of bullets and rumbling of tanks drowned out the songs and chants. When the smoke cleared, hundreds of people were dead. Today there was a replay of sorts, as government forces arrested protesters who were commemorating the anniversary. Today's crackdown demonstrated once again that the Communist Party is still the only party in town. But the country's hunger for economic growth is starting to force some changes. Marketplace's Jocelyn Ford has the story of one party maverick. Reporter: Jocelyn Ford Web Resource: Marketplace's "Fifteen Years After Tiananmen" Coverage Ola Bombay - Trilok Gurtu Support Marketplace: Purchase this music from Public Radio MusicSource More Than Just a Horse Race? More than 100,000 fans will squeeze into New York's Belmont Park tomorrow to see Smarty Jones run for the Triple Crown. When the horse leaves the starting gate he'll be carrying jockey Stewart Elliot - and perhaps the financial future of thoroughbred horse racing. Nick Roman explains. Reporter: Nick Roman Related Story: Weather a Worry for Smarty Triple Crown Bid The Race - Yello Support Marketplace: Purchase this music from Public Radio MusicSource

Coming up on Marketplace... Reducing taxes is a good thing for taxpayers, but not necessarily for your local government.