The Federal Reserve on Tuesday raised its estimate for economic growth next year and forecast lower unemployment ahead, although the jobless rate will stay uncomfortably high for at least the next three years.
Oil fell toward $76 a barrel on Tuesday after data showed the U.S. economy grew at a slower-than-expected pace last quarter and investors braced for weekly figures to show crude stocks rose in the world's top energy consumer last week.
A key measure of consumer confidence gained slightly in November, snapping a two-month declining streak, a research group said Tuesday.
The yen rose to six-week highs against the dollar Tuesday, while the greenback climbed versus higher-yielding currencies after economic growth and consumer confidence data suggested a U.S. recovery could be slower and less robust than previously thought.
You could hear John Arnold trying to choose his words carefully. Seated at a conference table inside a drab government building in Washington, D.C., in August, Arnold hardly fit the stereotype of a swaggering, 35-year-old billionaire natural-gas trader.
The dollar fell against a basket of currencies Monday after comments from a senior Federal Reserve official reinforced expectations U.S. interest rates would stay low for some time.
According to the Bureau of Labor Statistics, 36 percent of unemployed people --or 5.4 million -- had been without a job for 27 weeks or more in September 2009.
You are at the checkout counter with an armload of packages and as you dig into your purse or wallet, you're presented with an offer of a store credit card along with a holiday gift.
Federal Reserve Chairman Ben Bernanke has a tough road ahead.
Prediction: Over a 10-year period commencing Jan. 1, 2008, and ending Dec. 31, 2017, the S&P 500 will outperform a portfolio of funds of hedge funds, when performance is measured on a basis net of fees, costs, and expenses.
The Federal Reserve on Tuesday raised its estimate for economic growth next year and forecast lower unemployment ahead, although the jobless rate will stay uncomfortably high for at least the next three years.
Oil fell toward $76 a barrel on Tuesday after data showed the U.S. economy grew at a slower-than-expected pace last quarter and investors braced for weekly figures to show crude stocks rose in the world's top energy consumer last week.
A key measure of consumer confidence gained slightly in November, snapping a two-month declining streak, a research group said Tuesday.
The yen rose to six-week highs against the dollar Tuesday, while the greenback climbed versus higher-yielding currencies after economic growth and consumer confidence data suggested a U.S. recovery could be slower and less robust than previously thought.
You could hear John Arnold trying to choose his words carefully. Seated at a conference table inside a drab government building in Washington, D.C., in August, Arnold hardly fit the stereotype of a swaggering, 35-year-old billionaire natural-gas trader.
The dollar fell against a basket of currencies Monday after comments from a senior Federal Reserve official reinforced expectations U.S. interest rates would stay low for some time.
According to the Bureau of Labor Statistics, 36 percent of unemployed people --or 5.4 million -- had been without a job for 27 weeks or more in September 2009.
You are at the checkout counter with an armload of packages and as you dig into your purse or wallet, you're presented with an offer of a store credit card along with a holiday gift.
Federal Reserve Chairman Ben Bernanke has a tough road ahead.
Prediction: Over a 10-year period commencing Jan. 1, 2008, and ending Dec. 31, 2017, the S&P 500 will outperform a portfolio of funds of hedge funds, when performance is measured on a basis net of fees, costs, and expenses.
Existing home sales surged in October to the highest level in more than 2-1/2 years, according to a real estate industry report issued Monday.
More than a year after the financial meltdown of 2008, Congress is moving forward on plans to drastically curtail the power of the Federal Reserve.
U.S. average gasoline prices dropped by more than 3 cents per gallon in the past two weeks as the slumping job market takes its toll on consumers, according to a nationwide survey out Sunday.
Like most Americans, you're probably pledging to save more next year -- already savers are socking away cash at a better pace than they have in years (3.7% of income recently, up from just 0.2% in early 2008).
Procter & Gamble is recalling Vicks Sinex nasal spray in the United States, Britain and Germany after finding it contained bacteria, the company said.
QUESTION 1: I wanted to know if you could tell me how much longer the tax credit for first-time homebuyers will be available? I am a US citizen living abroad and plan to purchase a condominium in Texas-would this tax credit apply to me for that? --Anonymous
A growing number of states reported rising jobless rates in October, and thirteen states reported unemployment rates above the national average of 10.2%, according to a government report released on Friday.
The dollar rose for a second straight session Friday as investors cut exposure to risky assets and high-yield currencies ahead of a holiday-shortened week in the United States.
The Senate will vote Saturday on opening debate on the sweeping health care bill introduced by Democrats, Majority Leader Harry Reid said Thursday.
Mergers are all the rage in Corporate America again. Healthy companies are looking to take advantage of their strong balance sheets and surging stock prices to strike while the iron is hot.
Thousands of people will begin to lose a major discount on their COBRA health care premiums in as little as 10 days. Here's what you can do:
Top Senate Democrats are preparing to defend their sweeping health care reform bill Thursday, one day after unveiling the measure on a sharply polarized Capitol Hill.
The number of first-time filers for unemployment insurance was unchanged last week, holding at the lowest level since January, said a government report released Thursday.
One day after Goldman Sachs' CEO apologized for his bank's role in the financial meltdown, Treasury Secretary Tim Geithner called on the nation's financiers to step up and do more to fix the damage they helped cause.
Question: I'm 26 and want to set up a diversified portfolio for retirement. I'm almost totally invested in stocks, but I know that I should put some money into bonds. I really don't understand how they work, however, and I don't feel comfortable investing in something I don't understand. For example, I think I get the basic idea of a bond, but when I see bond yields fluctuate, I get confused. Aren't they supposed to have a consistent interest rate? --John, Portchester, New York
The dollar and the yen rose on Thursday as equity and commodity markets fell, encouraging investors to pare back exposure to risk and buy back the two low-yielders against perceived riskier currencies.
Senate Majority Leader Harry Reid unveiled a sweeping health care bill Wednesday that would expand health insurance coverage to 30 million more Americans at an estimated cost of $849 billion over 10 years.
Gold rose to record highs above $1,150 an ounce on Wednesday as the dollar index languished, boosting interest in the metal as an alternative asset, after largely benign U.S. inflation data.
Housing counselors, who've received more than $400 million in federal funds to help mitigate the mortgage crisis, are helping troubled homeowners avoid foreclosure and lower their monthly payments, a study released Wednesday has found.
Consumer prices in October were essentially unchanged from a year ago, the government reported Wednesday, as the rising cost of oil and gas offset earlier price declines.
Several top administration officials, including Treasury Secretary Tim Geithner and Small Business Administration head Karen Mills, will meet Wednesday with bankers, policy makers and business owners to discuss the grim state of small business lending.
In the current economic climate, people are finding themselves in dire situations. Veteran workers find themselves laid off after 20-plus loyal years with the same company. College graduates, with their diplomas hot off the press, can't find a job. Parents, who perhaps have never had to work outside the home before, find themselves desperate for a job.
The dollar weakened broadly on Wednesday as dealers took profit on the currency's biggest rise in three weeks the previous session and pushed the euro back to the middle of its range of the last two weeks.
Dear Annie: A few months ago I lost a middle-management job at a company where I worked for 14 years. I received four promotions during that time, but it had been quite a while since I actually interviewed for a new job.
Goldman Sachs earned an eye-popping $3.2 billion last quarter. Now it's decided to share some of that with the little guys.
As President Obama completes his trip to China, it's a natural time to ask if trade with the greatest source of U.S. imports is a good thing or bad thing for the still battered U.S. economy
It's bonus time on Wall Street and pay czar Kenneth Feinberg is walking a thin line.
Treasury prices were lifted Tuesday as investors pulled back on the previous day's gains on Wall Street, spurring demand for perceived safe haven assets.
President Obama is in China this week meeting with that nation's leaders. Since China is the largest foreign owner of U.S. debt, I wonder if they are going to give Obama a free toaster.
Eight months after President Obama began prodding the nation's banks to increase their small business lending, the loan numbers continue to move in the opposite direction.
More than a year after the financial system came to the brink of collapse, Congress is finally starting to make headway on bills that aim to prevent future catastrophes.
Higher fuel costs weighed on full-year profits at EasyJet after the low-cost airline hedged a lot of its fuel needs at high prices.
The dollar rebounded on Tuesday from Monday's 15-month lows after Federal Reserve Chairman Ben Bernanke made rare comments about the dollar, encouraging traders to trim longer-term bets against the currency.
Question: I lost my job, so I have my retirement savings in three separate 401(k) accounts with three different employers. Should I just leave them there, roll them over into an IRA account or do something else? --Annie, Texas
The Federal Reserve announced proposed rules Monday to implement the gift card provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009.
As Barack Obama undertakes his first official visit to China, the fate of the renminbi is again in the spotlight of the international currency market.
Federal regulators, in rushing to rescue AIG last year, failed to use their clout to negotiate concessions from business partners of the troubled insurer, a bailout overseer said on Monday.
Federal Reserve Chairman Ben Bernanke said the recovery in the U.S. economy will be modest, with higher than desired levels of unemployment for the foreseeable future.
When the financial storm sent shock waves through Wall Street and the broader economy, millions of people lost their jobs. Workers in New York City were particularly hard hit. Citigroup, alone, has announced over 100,000 job cuts worldwide since 2007. One casualty was Ebony Blue, a young financial analyst in the investment banking division, who was laid off in December of 2008. There weren't many openings in the financial industry. And with so many people still looking for work, Blue had plenty of competition. With only two years of experience under her belt since graduating from Ithaca College, Blue, 24, like many other young analysts, found it difficult to differentiate herself from a sea of job seekers in the industry.
Small business lending has been in freefall since the recession began. Concerned about the obstacles that places in the way of economic recovery, President Obama recently proposed a new federal effort to give community banks access to ultra-cheap government loans, which they can then use to expand their local business lending.
Retail sales in October rose more than analysts expected, the government reported Monday.
The dollar slipped on Monday as traders took a lack of agreement on currencies among Asian and U.S. leaders as a cue to sell the greenback, even as speculation of a near-term yuan appreciation cooled.
General Motors Co. will announce Monday it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements, a source knowledgeable about the situation said.
Investors will brace for a spate of economic reports this week with their fingers crossed that there is more good news than bad since that will set the tone for the remaining seven weeks of the year.
After three years of slumping house prices, the end of the real estate bust may finally be in sight. Home sales are rising, inventories are shrinking, and most economists believe values nationwide will hit bottom in the second half of the year -- but not before falling another 5% to 10% first.
Treasurys were mixed Friday as investors digested this week's record auctions and eyed gains in more risky markets.
Gold prices rose Friday to a record high, recovering from earlier losses, as the U.S. dollar weakened against rival currencies.
While economists fret whether the sharp "V"-shaped drop of the financial crisis will turn into a double-dipped "W" recovery, Tan Pheng Hock is most worried about the "P" word: Protectionism.
The Federal Reserve on Thursday released a new rule to prohibit banks from automatically enrolling customers in overdraft protection programs, which charge fees when consumers spend more than they have.
Treasurys were mixed Thursday, with the 10-year note edging lower following a $16 billion auction of 30-year bonds that was met with lackluster demand.
The mortgage meltdown has ravaged the finances of a crucial government agency tasked with propping up the housing industry.
Gold fell Thursday, after climbing to a record high overnight, as the dollar rose against rival currencies and stock prices fell.
The dollar rose Thursday as ongoing concerns about the global economy boosted demand for the U.S. currency as a safe haven.
Welcome to the bizarre world of Wall Street where good news is often bad news simply because it isn't good enough.
Gold is soaring to record high prices, and guess who has the biggest stash?
The number of Americans filing first-time claims for unemployment insurance fell last week to their lowest level this year, the government said Thursday.
Could the foreclosure plague be ending?
With the market up more than 60% since March, you're probably feeling a lot better about your portfolio lately than you did a year ago. The worry for 2010: Will the runup run out of steam?
Wal-Mart Stores reported a third-quarter profit Thursday that beat analysts' estimates while its store sales fell in the period amid a "difficult" selling environment.
Gold marched to a fresh peak but Asian and European stocks paused for breath on Thursday after Wall Street finished in positive territory overnight, but well off the 13-month highs achieved earlier in the session.
Gold jumped to an all-time high Wednesday as the dollar depreciated, fueling demand for the metal as a hedge against the anemic greenback.
The dollar recovered some ground against rival currencies Wednesday after falling to a 15-month low on strong economic data from China and signs that U.S. interest rates will remain low.
Oil rose modestly Wednesday, responding to a 15-month low in the dollar and robust Chinese demand growth and factory output.
If Burton Malkiel, author of the famous "A Random Walk Down Wall Street" and Princeton University economist, is right, the majority of U.S. investors aren't profiting enough from China's rapid growth.
In the current state of our economy, more than 15 million people are unemployed. That's 15 million people who are all looking for a little help, whether it's in the job search, writing a résumé, interview advice, networking or even finding a new career path.
The International Energy Agency has rejected reported allegations from a whistleblower that world oil reserves have been exaggerated to avoid panic buying in the oil market.
Network, network, network. That's the conventional advice to the unemployed. But in the worst job market in 26 years, sometimes, it's the only method that works.
Treasurys were mixed Tuesday after the most recent auction in this week's record $81 billion offering of U.S. debt drew strong demand.
Here's the latest twist on the timeless chicken versus the egg debate. Which came first: the stock and commodities rally or the weaker dollar?
The dollar firmed Tuesday from the 15-month low touched in the prior session as investors saw Monday's fall as too far, too fast.
You may not feel as if we're out of the woods yet. But the consensus among the 50 leading economists regularly surveyed by the Blue Chip Economic Indicators is that the recession is indeed over, and from a technical standpoint at least, probably ended in the summer.
Dear Annie: I'm a week away from my 54th birthday and, man, am I getting discouraged. After being laid off from a fairly senior job in May, I've spent the past few months networking nonstop, and managed to get three interviews. One interviewer never got back to me at all, and the other two both said I am overqualified for the jobs they have to offer.
Gold rallied to a record high Monday as the dollar weakened against rival currencies.
Oil prices rallied Monday amid bets the dollar will continue to depreciate and lingering concerns that Tropical Storm Ida could disrupt production in the Gulf of Mexico.
Fewer people are underwater on their mortgages -- further evidence that the real estate free-fall may be slowing.
Treasury prices mostly fell Monday, with the 10-year note holding modest gains, as the government prepares to sell $81 billion worth of debt this week and as stock markets advanced, undermining demand for safe haven assets.
The dollar fell broadly Monday, with the euro climbing above $1.50, after a report from the International Monetary Fund suggested the U.S. currency could fall further.
President Obama on Sunday praised the "historic" House vote to pass a bill overhauling the nation's ailing health care system, and said now it is time for the Senate to "take the baton" and complete its work.
I don't know about you, but I don't have a spare $101,900 stuffed under my couch cushions to buy an "A" share of Warren Buffett's Berkshire Hathaway. I probably could scrounge together $3,395 for one "B" share, but I would rather not.
Manmohan Singh, India's prime minister, on Sunday sought to override divisions in his ruling coalition by pledging to fulfil a deep financial reform program in Asia's third-largest economy.
The U.S. dollar may come under renewed pressure from emerging market currencies and the euro after a meeting of the world's top finance officials failed to take concrete action on rebalancing global money flows.
Gas prices are up slightly from two weeks ago -- despite a decline in the price of oil, according to a survey published Sunday.
Key players in the Group of 20 refused to support a plan create an insurance fund to pay for bailouts if governments have to step in again to save giant businesses on the brink of collapse.
Small business owners are still whittling away at their payroll, but the deluge of pink slips on Main Street is slowing down.
Despite millions of unemployed job seekers desperate for work, many open positions are languishing unfilled. The reason? Not enough candidates.
The nation's unemployment rate rose above 10% for the first time since 1983 in October, a much worse jump than expected as employers continued to trim jobs from payrolls.
The dollar and yen rose Friday after a report showed the U.S. unemployment rate spiked and the economy lost more jobs than expected, stoking concerns about the U.S. economy and restoring safe-haven demand for both currencies.
Treasury prices were higher Friday after the government reported that unemployment spiked to 10.2% -- its highest level since April 1983.
The 650,000 jobs created or saved by the stimulus package so far make up only a small step toward correcting the gap between the tens of millions of unemployed people and the few openings that those people are fighting over.
The push to overhaul health care received a major boost Thursday as the American Medical Association and AARP endorsed legislation drafted by top House Democrats.
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