Senate Minority Leader Harry Reid will not seek re-election next year, the New York Times reports.» Read More
U.S. employers slashed payrolls by 524,000 in December, driving the unemployment rate to its highest level in almost 16 years, suggesting that the year-long recession was deepening.
The Dow turned higher after the December jobs report came in as expected, that is to say that more than half a million jobs were lost in December. Market buzz had indicated the number could be as high as a million.
Obama has offered an $800 billion package, with plenty of infrastructure spending that alleges to create three million jobs. Nobody really believes infrastructure spending will end the recession or create permanent new jobs. However, it’s interesting just how much the Obama plan has changed since the election.
This stock can't be owned right now for a few key reasons, Cramer says.
What is it with families? I was pretty thrilled with Obama's speech today about the need for swift, bloated stimulus, with one glaring exception. He said, "to get people spending again, 95 percent of working families will receive a $1,000 tax cut." Nothing wrong with that policy-wise, it's the verbiage that bothers me.
Despite tremendous fear that the nonfarm payroll report would be a complete disaster tomorrow, traders acted like there was little urgency. Volume was light, volatility was low and with the exception of one sector (retail) all S&P sectors were up or down less than one percent.
President-elect Barack Obama got plenty of buzz when he talked about his want for a college playoff. Obama was asked last night by CNBC what he thought about Utah's claim for a national championship, given that they are the only undefeated team.
President-elect Barack Obama's proposed tax cuts are running into opposition from senators in his own party who say they won't do much to stimulate the economy or create jobs.
President-elect Barack Obama warned of dire consequences if Congress doesn't pass his economic stimulus plan...
Here is the prepared text for a speech given by President-elect Barack Obama on Thursday at George Mason University in Fairfax, Va., as released by his transition office.
President-elect Obama's speech on the economy this morning is designed to hammer one point home: if the government does not act aggressively, the recession could linger for years.
A government stimulus must ensure that financial institutions are recapitalized and remain “healthy,” said Frederic Mishkin, former Federal Reserve Board governor and Columbia University economics professor.
The Dow Jones Industrial Average could rally to 11,000 in the short term as optimism over incoming President Barack Obama boosts investors’ confidence, Clem Chambers, CEO of ADVFN, told CNBC.
President-elect Obama told CNBC he plans "a substantial overhaul" of financial markets in the coming months, including a major revamping of regulatory agencies.
That this stock does well during recessions is just one of many reasons it's a Mad Money favorite.
Here and there are some small signs that the economy is at least bottoming — a crucial stepping stone to meaningful recovery. For example, the ISM non-manufacturing services report released today for December came in at 40.6 on the composite index, compared to 37.3 in November.
The promise of an Obama stimulus package has raised hopes that the battered housing sector will soon stabilize. That's encouraged investors to buy home builder stocks — but Ivy Zelman of Zelman and Associates warns investors to be very selective.
As Congress comes back from vacation and starts a new session with new members, the first task is the stimulus plan. While President-elect Obama had hoped for a bill to sign by his inauguration, the political wheels are unable to spin fast enough to produce a document until mid-February.
The economy's breathing, and that's good news for Wall Street – and the country.
We need massive government invention to get out of the economic mess we're in. We don't want the next ten years to be called America's lost decade. That's why the American people, in their infinite wisdom, sent a huge Democratic majority to Congress and gave Obama the White House.