More Economy Articles

  • Obama cites letter writers in pitching economy

    WASHINGTON (AP) — President Barack Obama says his travels beyond the capital and his visits with selected letter writers demonstrate the need for Congress to act on his stalled economic agenda. In his weekly radio and Internet address Obama cited meetings this week with a college student and...

  • Stocks stabilize, but end down for the week

    NEW YORK (AP) — U.S. stocks stabilized and ended with a small gain Friday, but it wasn't enough to prevent the market's biggest weekly drop since April. Investors became more cautious this week as corporate earnings for the April-June period began trickling in. Worrisome news about a...

  • Stocks finish slightly higher

    NEW YORK (AP) — The U.S. stock market is ending slightly higher as investors assess corporate earnings. The Dow Jones industrial average rose 28 points, or 0.2 percent, to finish at 16,943 Friday. The Standard & Poor's 500 index rose two points, or 0.2 percent, to 1,967. The Nasdaq composite...

  • Oil price falls 2 pct, biggest drop since April

    The price of oil plunged 2 percent Friday, the largest one-day drop since April, as Libyan oil appears poised to return to the market while global demand looks to be muted. Benchmark U.S. crude for August delivery fell $2.10 cents to close at $100.83 a barrel on the New York Mercantile...

  • US records $71 billion budget surplus in June

    WASHINGTON (AP) — The U.S. government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008. The Treasury Department said Friday that its June surplus totaled $71 billion, following a $130 billion deficit in May. The government also ran a...

  • Markets steady after Portuguese bank scare

    LONDON (AP) — Global stocks steadied somewhat Friday after slumping on worries about the soundness of a bank in Portugal, while trading in Asia was muted over the specter of more financial turmoil in Europe. Markets worldwide had fallen Thursday because of jitters about the financial...

  • Wells Fargo profit edges up 3 percent in quarter

    NEW YORK (AP) — A stable housing market and fewer bad loans helped lift Wells Fargo's quarterly profit 3 percent. The country's largest mortgage lender said Friday that net income rose to $5.42 billion for the three months ending in June, up from $5.27 billion a year earlier. That's after...

  • Stocks move lower; on track for a weekly loss

    NEW YORK (AP) — U.S. stocks are moving mostly lower in midday trading as investors assess corporate earnings. The Dow Jones industrial average fell 28 points, or 0.2 percent, to 16,886 as of midday Eastern time Friday. The Standard & Poor's 500 index lost two points, or 0.1 percent, to...

  • Big Ideas: On Dodd-Frank, diversity and cigarettes

    Like Obamacare, the 2010 financial reform law has many unintended consequences, the latest of which could be soaring insurance rates.

  • Economists lower forecasts for US growth

    WASHINGTON (AP) — U.S. business economists have sharply cut their growth forecasts for the April-June quarter and 2014, though they remain optimistic that the economy will rebound from a dismal first quarter. The average forecast for growth in the second quarter has fallen to 3 percent,...

  • Stocks open lower; on track for a weekly loss

    NEW YORK (AP) — U.S. stocks are opening lower and are headed for their biggest weekly loss since April. The Dow Jones industrial average fell 40 points, or 0.2 percent, to 16,873 in the first few minutes of trading Friday. The Standard & Poor's 500 index lost four points, or 0.2 percent, to...

  • Downside of low US mortgage rates? Less selling

    WASHINGTON (AP) — Would-be home sellers across the country are grappling with a once-in-a-lifetime problem: They have mortgage rates so absurdly low it would hurt them financially to sell. Doing so would mean giving up an irresistible rate in exchange for a new mortgage carrying a rate up to...

  • World Cup defeat can hurt domestic stock market

    LONDON (AP) — Argentina and Germany face off in the World Cup final on Sunday and investors in both countries will do well to be alert to potential drops on their stock markets the day after in case of defeat. With markets driven by sentiment as well as fundamental factors such as growth,...

  • The reason that thousands of Central American children are crossing the border

    Economists say the current wave of illegal immigration from Central America was predictable, to an extent, and for different reasons than the migrants might identify.

  • Asian stocks weak amid new Europe jitters

    MUMBAI, India (AP) — Asian stock markets were muted Friday, following the lead of Wall Street traders spooked by worries about the soundness of a bank in Portugal that raised the specter of more financial turmoil in Europe. Japan's Nikkei 225 slipped 0.3 percent to 15,176.27 and South Korea's...



From the Weekly Standard