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We may be psyching ourselves right out of a robust recovery, says CNBC's Dennis Kneale.
Retail sales plunged in May by the largest amount in eight months as consumers slashed spending on everything from cars to clothing.
The United States is a decade away from being Greece, if it fails to get on the path of fiscal responsibility, former US Comptroller of the Currency David Walker told CNBC Thursday.
The company and the Consumer Product Safety Commission say one front-loading model poses a fire and elctric-shock hazard, but the problem has already been corrected in new machines.
One of the political mysteries of the last year is why the White House and Congress have not been even more aggressive about trying to put people back to work. The NYT explains.
What we should figure is never to believe government figures when they first come out. Consumer credit last month rose $1.0 billion. March's increase was originally reported to be an increase of $2.0 billion. That was revised to a decline of -$5.4 billion.
Media "hype" surrounding the BP oil spill is exacerbating the situation for Florida's tourist industry, said David Kong, president and CEO of Best Western, the world’s largest hotel chain.
Government job data doesn't show a lot of fulltime job growth but it is showing a steady trend of temporary hiring—and has since that number turned positive in October.
If you think the jobs situation has become pretty hopeless, you're not alone. Roughly 1.1 million workers have given up hope of finding employment.
If ever were there were proof that economists are from Mars and investors are from Venus, look no further than the upbeat commentary from forecasters over the weekend to the Friday job’s report.
As if Friday's jobs report wasn't bad enough, there's another worry for the markets: With over half the stimulus money chewed up, how does the economy survive?
Many people are beginning to hunt for jobs again, but the initial return may prove dispiriting since so many others are already chasing too few jobs, the New York Times reports.
The US recovery will continue, despite financial turmoil in Europe, as long the governments on the continent follow through on their promised rescue package, Treasury Secretary Tim Geithner told CNBC Thursday.
Employers fired as many staff in May as the previous month, according to the latest job-cut report released by global outplacement consultancy Challenger on Wednesday.
"The recovery is still on track," said Brian Bethune, a senior economist at IHS Global Insight. While Europe's troubles will put a drag on profits at US companies that do business overseas, Bethune said, "it's not going to be a show-stopper."
Just how much the US economy will expand this year and next remains a question among economists—with the wild card being the impact of European turmoil on US growth.
The economic problems in Europe have will have little effect on the United States, said Alan "Ace" Greenberg, former CEO and chairman of the board of Bear Stearns.
Economists expect the US economy added about 540,000 jobs in May—mostly from Census hiring—and analysts hope that's enough to assure investors that Europe's debt crisis won't cause a double-dip recession.
Stimulus money that helped cushion some government job programs last summer is running out, and private employers are reluctant to hire, the New York Times reports.
The economy trudges ahead yet debt dogs many Americans, stressing them out even as they firm up their own financial foundations.