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Politics Barack Obama

  • The Mormon Tabernacle in Salt Lake City, Utah.

    Former Presidential candidate Mitt Romney may be the most recognizable Mormon, but members of his faith, which account for only 2 percent of the US population, have lots of influence in big money—both on Wall Street and throughout the business world.

  • The US should expect a notable slowdown in GDP growth, to ½ percent, during the second half of this year, Jan Hatzius, chief US economist at Goldman Sachs, told CNBC Wednesday.

  • Home builders trade up (!) today. What's up? Two things: 1) builders are DOWN 30 to 40 percent in the last two months, and 2) with these kinds of sales, builders will build even less, and inventory will come down even more. Still, the numbers were a shock...

  • The Fed has slightly downgraded its outlook on the US economy and on housing, and also somewhat lowered its inflation outlook.

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    The latest batch of lousy economic data took a sharp turn for the worse this morning with an awful new home sales report for the month of May.

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    Given that consumer debt levels have barely budged from record highs and that many boomers had been depending on home price appreciation for retirement, we believe the recent housing price declines will cause somewhat of a permanent shift in the saving and spending patterns of middle Americans.

  • Bids are light. This was no selloff yesterday: bidders simply walked away. Consolidated volume at the NYSE (trading in all NYSE listed stocks on all exchanges) was 4.7 billion shares (5 billion is normal), one of the lighter volume days of the year.

  • Oil burns and creates plumes of smoke near the site of the Deepwater Horizon oil spill on June 19, 2010 in the Gulf of Mexico off the coast of Louisiana.

    The Louisiana judge who struck down the Obama administration's six-month ban on deepwater oil drilling in the Gulf of Mexico has reported extensive investments in the oil and gas industry, according to financial disclosure reports. He's also a new member of a secret national security court.

  • Troll through Judge Martin L.C. Feldman's 22-page ruling, which blocked the offshore drilling moratorium imposed by the Obama administration, and you can hear the voice of a man clearly exasperated by the logic of those who have argued for the moratorium...

  • Hornbeck Offshore Services, Noble, Hercules Offshore, Diamond Offshore and other deepwater drillers all rallying modestly midday, as a federal judge has blocked the offshore drilling moratorium imposed by the Obama administration.

  • Walgreens, Rite Aid at 52-week lows. The Walgreens conference call ended earlier. Bottom line?

  • Rep. Steny Hoyer

    House Majority Leader Steny Hoyer said Tuesday that tax increases will eventually be necessary to address the nation's mounting debt, raising a difficult election-year issue as Democrats fight retain control of Congress.

  • A Greenpeace activist walks on an oil-covered beach along the Gulf of Mexico on May 20, 2010 near Venice, Louisiana. Although BP says that it is capturing more of the massive oil leak, thousands of barrels continue gushing into the Gulf south of the Louisiana coast.

    Blackouts are one more possible problem related to the BP oil spill for the residents of the Gulf of Mexico region. If that happens, the power outages have the potential to impact homes and businesses from western Louisiana to eastern Florida.

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    Since China announced its currency reform policy over the weekend, credit has been ascribed to saber-rattling on the part of the U.S. Congress, and – conversely – the quiet diplomacy the Obama Administration, or some magical elixir combining both.

  • Europe is weaker as Standard and Poor's is warning of mounting losses at Spanish banks: "Mainly because of our greater loan loss expectations for the real estate sector, we have raised our estimates for systemwide loan losses from 2009 through 2011," analyst Elena Iparraguirre said.

  • US military commander in Afghanistan General Stanley McChrystal speaks during the White House daily briefing at the White House in Washington, DC.

    In a magazine article, Gen. Stanley A. McChrystal, the top commander in Afghanistan, was portrayed as openly contemptuous of some senior members of the Obama administration, reports The New York Times.

  • Cigarette in ashtray

    A year after a new law put tobacco regulation in the hands of the Food and Drug Administration, one thing is clear: It will likely be years before any of the most aggressive steps to reduce deaths from smoking might happen.

  • Financial "regulator" reform enters endgame. It's the regulator who matters. It is ultimately not so much what the bill says, but how the regulators — in this case, the Federal Reserve — interprets the rules.

  • Visa and MasterCard staging modest midday rally on word that Rep. Barney Frank will seek to keep the the cap on debit card "swipe" fees that was approved by the Senate—but will also make some changes...

  • China's announcement that they are loosening the trading bands on the yuan is good for the trade imbalance with the United States, but traders think that the idea we should all rush out and buy, say, Caterpillar or BHP Billiton just on this...is probably incorrect. Here's why.