More Economy Articles

  • Tech stocks slide again; Nasdaq falls for 3rd week

    NEW YORK (AP) — Technology stocks are dropping for a second day in a row as investors flee highflying Internet and biotechnology companies. The Nasdaq composite closed out its third losing week in a row. The Nasdaq lost 54 points, or 1.3 percent, to end at 3,999 Friday. It was only the...

  • Two potential candidates to succeed Sylvia Matthews Burwell as budget chief

    President Obama's nomination of Sylvia Mathews Burwell to replace Kathleen Sebelius as HHS secretary leaves open Burwell's position as director of the Office of Management and Budget. Of the two deputy directors, Brian Deese and Beth Cobert, Deese may be the more likely candidate.

  • Earnings drop at JPMorgan drags bank stocks lower

    NEW YORK (AP) — Weaker earnings at JPMorgan Chase are dragging bank stocks lower in early trading. Technology and biotech stocks also fell, a day after the worst rout for the Nasdaq composite index since 2011. The Nasdaq fell another 12 points, or 0.3 percent, to 4,042 in the first few...

  • US producer prices rise 0.5 percent in March

    WASHINGTON (AP) — The prices companies receive for their goods and services jumped in March led by gains for food, clothing, jewelry and chemicals. The producer price index, which measures price changes before they reach the consumer, rose 0.5 percent in March, the Labor Department said...

  • Coldwater Creek files for bankruptcy protection

    SANDPOINT, Idaho (AP) — The women's clothing retailer Coldwater Creek has filed for Chapter 11 bankruptcy protection after failing to find a potential buyer or a source of capital to help fund its turnaround efforts. Coldwater Creek said Friday that its stores and its website are still open...

  • US warns Russia of tougher sanctions over Ukraine

    WASHINGTON (AP) — Treasury Secretary Jacob Lew told his Russian counterpart on Thursday that Russia could face tougher economic sanctions because of its actions in Ukraine. The U.S. Treasury said that Lew warned Russian Finance Minister Anton Siluanov that the United States is prepared to...

  • Investors flee tech stocks again, pummeling Nasdaq

    NEW YORK (AP) — The high-flyers are laying the stock market low — once again. Investors turned against biotech, Internet and other once-soaring stocks on Thursday, driving the Nasdaq composite index to its worst day since 2011. The sell-off in tech names dragged down the broader market and...

  • Unemployment claims lowest since 2007, but employment boom not guaranteed

    Weekly unemployment insurance claims fell in the week ending April 5, the Department of Labor reported Thursday, to 300,000 -- the lowest number since early 2007, well before the beginning of the recession. The four-week moving average for claims also fell to 136,250, the lowest post-crisis...

  • Family Dollar to close stores as shoppers pinched

    NEW YORK (AP) — Dollar stores are feeling the pinch from mounting financial pressures on low-income shoppers. Family Dollar said Thursday that will cut jobs and close about 370 underperforming stores as it tries to reverse sagging sales and earnings. The discount store operator will also...

  • Average US 30-year mortgage rate down to 4.34 pct.

    WASHINGTON (AP) — Average U.S. rates on fixed mortgages declined this week closer to historically low levels as the spring home-buying season begins. Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.34 percent from 4.41 percent last week. The average for the...

  • Chief of India's central bank criticizes Federal Reserve's monetary-easing efforts

    India's top central banker criticized the Federal Reserve in two appearances in Washington on Thursday, saying that the U.S. central bank should take into consideration the impact of its monetary-easing programs on emerging economies like India's. Raghuram Rajan, a University of Chicago...

  • Stocks drop; Biotech takes another plunge

    NEW YORK (AP) — The Nasdaq had its worst day since 2011 as investors dumped biotechnology shares and other industries that have soared over the past year. Biogen Idec, Gilead Sciences and other biotech companies plunged. After a huge run-up, those stocks have become volatile in recent weeks...

  • US average rate on 30-year home loan 4.34 percent

    Average U.S. rates on fixed mortgages declined this week as the spring home-buying season begins.

  • Applications for U.S. jobless aid dip 32k to lowest level since 2007

    The number of people seeking U.S. unemployment benefits dropped to the lowest level in almost seven years, falling 32,000 last week to a seasonally adjusted 300,000. The Labor Department said Thursday that the four-week average of applications, a less volatile measure, fell 4,750 to 316,250.

  • JPMorgan awarded CEO Jamie Dimon $11.8M last year

    LOS ANGELES (AP) — JPMorgan Chase & Co. Chairman and CEO Jamie Dimon's total compensation fell 37 percent last year to $11.8 million as the nation's largest investment bank grappled with billions in legal costs and fines. According to regulatory documents filed Wednesday, Dimon's total...



From the Weekly Standard