Stocks rose Tuesday as investors appear to be shaking off a worse-than-expected report that showed economic growth in the third quarter was not as strong as previously forecast.
Overseas markets strengthened. A report that the British economy did not contract as much as previously thought in the third quarter sparked a rally in Europe.
The U.S. government [...]
Archive for December, 2009
Stock rise as investors shake off GDP revision
December 22nd, 2009 by Financial Writer
Tags: economy grew, gdp, holiday, investors, stock rise
more...Rebound leads AP’s top business stories of ’09
December 21st, 2009 by Financial Writer
In 2009, the economy was near collapse before pulling back from the brink of depression. Unemployment topped 10 percent, but layoffs eased. General Motors and Chrysler toppled into bankruptcy and emerged smaller and leaner. The Dow Jones industrial average swooned to a 12-year low, then came part of the way back.
It was a year of [...]
Tags: depression, economy’s wild, general motors, great depression, top business, unemployment
European markets push higher ahead of US open
December 21st, 2009 by Financial Writer
European stock markets and Wall Street futures rose Monday amid hopes that the recent bout of selling may have run its course. However, bigger gains are not anticipated over the coming days as trading volumes fall because more and more traders are shutting up shop for the Christmas break.
The FTSE 100 index of leading British [...]
Tags: christmas, Federal Reserve, real estate, stock markets, wall street
Midnight in the food-stamp economy
December 18th, 2009 by Financial Writer
At 11 p.m. on the last day of the month, shoppers flock to the nearest Walmart. They load their carts with food and household items and wait for the midnight hour. That’s when food stamp credits are loaded on their electronic benefits transfer cards.
“Once the clock strikes midnight and EBT cards are charged, you can [...]
Tags: costco, economy, food stamp, unemployment, us holiday
Ahead of the Bell: Leading economic indicators
December 17th, 2009 by Financial Writer
Analysts expect that a private forecast of U.S. economic activity rose for the eighth straight month in November, signaling that the economic recovery will extend into next year.
The Conference Board’s index of leading economic indicators likely rose 0.7 percent last month, according to Wall Street economists surveyed by Thomson Reuters. The index, which is meant [...]
Tags: economic indicators, economists, leading, money supply, us economic
Current account trade deficit widens in 3Q
December 16th, 2009 by Financial Writer
The deficit in the broadest measure of foreign trade posted a sharp increase in the July-September quarter, a sign that the U.S. economy was beginning to rebound as demand for foreign goods increased.
The Commerce Department said Wednesday the current account deficit rose to $108 billion in the third quarter, an increase of 10.3 percent from [...]
Tags: deficit, recession, us companies, us economy, us investments
Fed is expected to leave rates at record low
December 15th, 2009 by Financial Writer
The Federal Reserve is expected to leave interest rates at a record low this week. The big question is whether Chairman Ben Bernanke and his colleagues will hint about when they will reverse course and start boosting rates.
Plans for reeling in the unprecedented amount of money the Fed has plowed into the economy to bolster [...]
Tags: boosting rates, economy recovery, fed, Federal Reserve, interest rates
Bipartisan budget group says deficit curbs needed
December 14th, 2009 by Financial Writer
A bipartisan group of former lawmakers and budget officials called on Congress and President Barack Obama Monday to commit to reining in trillion-dollar plus budget deficits to avoid dragging down the economy.
Policymakers must take steps next year to enact policies to stabilize the debt at 60 percent of the size of the economy to avoid [...]
Tags: barack obama, bipartisan, lawmakers, policymakers, us economy
Japan business mood up more than forecast
December 14th, 2009 by Financial Writer
Japanese business confidence edged up more than expected in the three months to December but remained negative for the sixth quarter in a row, a Bank of Japan survey showed, as the economy slowly recovers from its worst postwar recession.
The headline index for big manufacturers’ sentiment was minus 24 in December, improving from minus 33 [...]
Tags: bank of japan, global financial crisis, japan's economy, japanese business, recession
Economic reports raise hopes for global recovery
December 12th, 2009 by Financial Writer
Just in time for Christmas, the fragile economic recovery is showing signs of strengthening: Consumers are spending, companies are rebuilding stockpiles and Chinese exports are mounting a comeback.
Data released Friday eased some worries about Americans’ willingness to spend this holiday season. But stores remain worried that they may have to offer deeper discounts than planned, [...]
Tags: economic reports, economy struggling, global recovery, increase economists, unemployment