More Economy Articles

  • Regulators OK overhaul of credit rating agencies

    The Securities and Exchange Commission voted to adopt two rules intended to prevent weak or fraudulent loans from being bundled into securities and sold to investors, including an overhaul of the way that rating agencies work.

  • Stocks drift higher; S&P 500 holds at 2,000 points

    U.S. stock indexes edged higher in midday trading Wednesday, drifting slightly from a record high set the day before. Trading was light ahead of the Labor Day holiday as investors sifted through company earnings and deal news. Express rose 12 percent after the clothing retailer's results beat...

  • National debt has doubled since financial crisis: budget office

    This year the federal debt will be double what it was before the financial crisis, Congress' budget scorekeeper projected Wednesday morning.

  • Mortgage rules leave lenders scared to lend

    Federal rules are scaring home lenders from making loans to anyone without excellent credit, a dynamic that top economic policymakers say is holding back the nation's economic recovery.

  • GM likely to announce SUVs, jobs at Tenn. plant

    DETROIT (AP) — General Motors and government officials are expected to announce new vehicles and jobs Wednesday at a sprawling factory complex in Spring Hill, Tennessee. An announcement is scheduled for Wednesday morning at the plant, which is likely to get new Cadillac and GMC crossover SUVs...

  • More job training planned as 3 casinos to close

    ATLANTIC CITY, N.J. (AP) — Atlantic City is planning to offer additional job training as three casinos prepare to shut down over the next few weeks, putting thousands of workers on the street. During a conference call with national media on Tuesday to address the upcoming shutdowns this weekend...

  • S&P 500 closes over 2,000 for the first time ever

    The S&P 500 index closed just above the symbolically significant number of 2,000 for the first time Tuesday, as stocks soared following positive economic reports. The Dow Jones Industrial Average also neared record highs.

  • US home price gains slow in June

    WASHINGTON (AP) — U.S. home prices increased at a slower pace in June — a cooldown that could continue for several more months. The Standard & Poor's/Case-Shiller 20-city home price index rose 8.1 percent in June from 12 months earlier, according to a Tuesday report. That's down from 9.4...

  • Best Buy sales slip spooks Wall Street

    RICHFIELD, Minn. (AP) — Best Buy's shares fell Tuesday after the nation's largest consumer electronics retailer reported a revenue shortfall in the second-quarter revenue, as people increasingly shop online. It also said an important sales figure would continue to decline in the final two...

  • AP survey: Fed's outlook correct but not solution

    WASHINGTON (AP) — Economists appear to be of two minds about the Federal Reserve. They agree with the Fed that the job market still isn't healthy. Yet the latest Associated Press survey of economists finds that most fear the Fed will wait too long to raise interest rates and thereby risk...

  • S&P 500, Dow average heading for record highs

    NEW YORK (AP) — Encouraging economic news is sending the stock market further into record territory. A surge in consumer confidence helped push the Standard & Poor's 500 past 2,000 Tuesday morning, a day after the index closed just short of that milestone. The Dow Jones industrial average was...

  • Survey: US consumer confidence near a 7-year high

    WASHINGTON (AP) — U.S. consumer confidence this month reached its highest point in nearly seven years, boosted by strong job gains. The Conference Board said Tuesday that its confidence index rose for a fourth straight month to 92.4 from 90.3 in July. The August reading is the highest since...

  • US durable goods orders surge record 22.6 percent

    WASHINGTON (AP) — Business orders for long-lasting manufactured goods shot up by the largest amount on record in July. But most of the strength came from demand for commercial aircraft, which tends to fluctuate sharply from month to month. Outside of transportation, orders dipped. Despite the...

  • Paul Ryan: Limit home mortgage deduction to the middle class

    Rep. Paul Ryan said in an interview on Monday that he favors limiting the home mortgage tax deduction to "middle income people" but opposes curbing deductions for contributions to charity.

  • U.S. credit card late payments down in 2Q

    LOS ANGELES (AP) — Americans are doing a better job of making timely credit card payments, even as many lenders increasingly extend credit to more people with less-than-stellar credit. The rate of U.S. credit card payments at least 90 days overdue fell to 1.16 percent in the April-June quarter...



From the Weekly Standard