NEW YORK (CNN) -- CNN Money's Stacey Delikat has your top business and financial news on this Monday, July 29.
Stocks: All eyes on jobs
The latest Pending Home Sales Index will be released Monday morning. The index will reveal if home sales have continued to increase since May as mortgage rates continue to rise. Also on Monday a few more major companies will report their earnings. Investors will be watching Hertz, Express Scripts, Hartford Financial, and Herbalife closely as they reveal their earnings reports. Economists surveyed by Briefing.com are expecting the number of nonfarm payrolls to have decreased to 175,000 in July from 195,000 a month earlier, and the unemployment rate to fall to 7.5% from 7.6%.
No bailout coming for Detroit, treasury secretary says
City employees and pensioners in Detroit shouldn't hold their breath for a federal bailout of their bankrupt city. U.S. Treasury Secretary Jack Lew had that message for them Sunday, telling CNN's "State of the Union" that Detroit's debt problems were between the city and its creditors. "Detroit's got serious financial problems," Lew told chief political correspondent Candy Crowley. "They've been a long time in the making. We stand with Detroit and have been working with them, the technical advice, working with the kinds of normal programs the federal government has to see if there's anything we can do to help in the Treasury Department."
Obama says income gap is fraying U.S. social fabric
In a week when he tried to focus attention on the struggles of the middle class, President Obama said in an interview that he was worried that years of widening income inequality and the lingering effects of the financial crisis had frayed the country's social fabric and undermined Americans' belief in opportunity. Upward mobility, Mr. Obama said in a 40-minute interview with The New York Times, "was part and parcel of who we were as Americans. And that's what's been eroding over the last 20, 30 years, well before the financial crisis," he added.
Where's the beef? Not in Chipotle's vegan burrito
Until now, no major fast-food chain has nationally rolled out a hot, vegan entree besides veggie burgers. (Vegan means the food contains no animal products - not even cheese, eggs or honey.) On Monday, Chipotle Mexican Grill, known for its use of organic ingredients and naturally raised meat, will announce that it's making a major strides toward leading the fast-food industry into vegan territory. Chipotle stores throughout the Pacific Northwest will begin selling Sofritas - shredded, organic tofu that's braised with chipotle chiles and roasted poblanos and served in burritos, tacos or bowls.