More Economy Articles

  • US stocks stall in late afternoon amid earnings

    NEW YORK (AP) — Stocks were unable to hold their earlier gains as trading wound down Thursday. Investors reacted to quarterly results from companies across several industries, including Facebook, Ford and Caterpillar. They also had two economic reports to interpret, one on the housing and the...

  • Texas governor's startup fund is not all it seems

    AUSTIN, Texas (AP) — Texas Gov. Rick Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation's second most-populous state. But a closer look at the Texas Emerging Technology Fund,...

  • Here's what this week's housing numbers say about the recovery

    Those expecting the housing market to adjust to last year's steep increase in mortgage rates and resume recovering from the mortgage crisis will have to wait longer for clarity.

  • GM profit 2Q falls 85 pct. on recall costs

    DETROIT (AP) — Recall expenses chopped $1.5 billion from General Motors' bottom line in the second quarter, as it added up the costs of repairs for nearly 30 million cars and set aside funds to compensate victims of small-car crashes. The nation's biggest automaker posted a net profit of $190...

  • Markets solid amid mixed US economic news

    LONDON (AP) — Markets were solid Thursday as geopolitical tensions largely related to the downing of a Malaysia Airlines jet over Ukraine subsided somewhat and after further upbeat U.S. jobs data was offset somewhat by surprisingly weak homes data. Since Malaysia Airlines Flight 17 was downed...

  • Average US 30-year mortgage rate at 4.13 pct.

    WASHINGTON (AP) — Average U.S. long-term mortgage rates were stable to slightly higher this week, remaining near their lows for the year. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30-year loan was 4.13 percent, unchanged from last week. The average for the...

  • US new-home sales plummet in June

    WASHINGTON (AP) — Sales of new U.S. homes plunged in June, a sign that real estate continues to be a weak spot in the economy. New home sales fell 8.1 percent last month to a seasonally adjusted annual rate of 406,000, the Commerce Department said Thursday. The report also revised down the...

  • US unemployment aid applications drop to 284,000

    WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits fell last week to its lowest level in eight years. The Labor Department says weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000. That's the lowest reading since February 2006,...

  • Oil drifts down despite China manufacturing bounce

    The price of oil fell below $103 a barrel Thursday, giving back part of its gains from the day before, despite improvements in Chinese manufacturing. By early afternoon in Europe, benchmark U.S. crude for September delivery was down 20 cents to $102.92 a barrel in electronic trading on the New...

  • S&P 500 ekes out record high as earnings roll in

    NEW YORK (AP) — The stock market eked out a record high Wednesday, as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies. Biotechnology stocks were among the largest gainers. Among big tech names, Apple's earnings topped...

  • Barney Frank dismisses Elizabeth Warren's favorite idea

    Appearing Wednesday before the House Financial Services Committee he used to head, former Rep. Barney Frank, the architect of the 2010 Dodd-Frank financial reform law, dismissed the idea of reinstating Glass-Steagall, the Depression-era law that split investment banks from commercial banks that...

  • US economy, though sluggish, may now be sturdier

    WASHINGTON (AP) — Out of a seemingly hollow recovery from the Great Recession, a more durable if still slow-growing U.S. economy has emerged. That conclusion, one held by a growing number of economists, might surprise many people. After all, in the five years since the recession officially...

  • US stocks drift higher following mixed earnings

    NEW YORK (AP) — U.S. stock indexes edged mostly higher as traders looked over a mixed batch of corporate earnings. The meager gains were enough to mark another high close for the Standard & Poor's 500 index. The S&P 500 edged up three points, or 0.2 percent, to 1,987. That was two points...

  • IMF sees US growth at weakest since recession

    WASHINGTON (AP) — U.S. economic growth this year will likely be at the weakest pace since the Great Recession ended, the International Monetary Fund said, mostly because of a sharp, weather-related contraction in the first quarter. But the global lending organization said Wednesday that it...

  • SEC votes to end $1 a share for some money funds

    WASHINGTON (AP) — Regulators have voted by a narrow margin to end a longtime staple of the investment industry — the fixed $1 share price for money-market mutual funds — at least for some money funds used by big investors. The idea is to minimize the risk of a mass withdrawal from the...



From the Weekly Standard