More Economy Articles

  • 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...

  • US Treasury raises $2.38b in Ally stock sale

    WASHINGTON (AP) — The Treasury Department has raised $2.38 billion after selling a large chunk of its stock in Ally Financial Inc. as part of the government's ongoing effort to recoup the billions of dollars spent bailing out companies during the 2008 financial crisis. Treasury said Wednesday...

  • US stocks rally on Fed minutes, earnings news

    NEW YORK (AP) — Once again, it was the Federal Reserve to the rescue for the stock market. Major U.S. indexes rose broadly Wednesday, helped by a report out of the nation's central bank that showed Fed policymakers want to be absolutely certain the U.S. economy had recovered before starting...

  • House Republicans aim for JOBS Act 2.0

    House Republicans are trying to recreate the success of the JOBS Act, two years after its passage. The Jumpstart Our Business Startups Act, intended to reduce capital costs for startups by deregulating some aspects of securities law, was one of the rare bipartisan legislative efforts of the...

  • Alcoa and Facebook are big market movers

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Alcoa Inc., up 47 cents to $13 Industry analysts raise their price targets for the aluminum maker's stock after the company weathered a rough patch in...

  • Obama blasts GOP for blocking paycheck fairness bill

    President Obama ripped Senate Republicans Wednesday for blocking a paycheck fairness bill, leveling charges against the GOP that will serve as the centerpiece of the Democratic 2014 campaign pitch. The Paycheck Fairness Act, which was designed to combat wage disparity between men and women,...

  • Minutes show Fed struggled to agree on rate policy

    WASHINGTON (AP) — The Federal Reserve struggled last month over how to convey to investors that it will raise short-term interest rates only slowly once it increases them from record lows. Two weeks before the Fed's regular meeting March 18-19, it held an unusual and previously unannounced...



From the Weekly Standard

  • Through a Google Glass, Darkly

    “Just because something bears the aspect of the inevitable one should not, therefore, go along willingly with it.” ​—​Philip K. Dick

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  • 2014 ≠ 2016

    Polls are overrated, but they can be still instructive. So what’s to be learned from a Fox News survey of 1,012 registered voters conducted April 13-15? 

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  • As Goes North Carolina

    Raleigh, N.C.  To win the Senate, Republicans must win North Carolina. While it’s mathematically possible to take the Senate without ousting Democratic senator Kay Hagan, the chances of that...

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