U.S. consumer sentiment surged in December as Americans' outlook on the economy and job prospects improved, a survey released on Friday showed.» Read More
Unemployment rose in August in 27 states and the District of Columbia, with joblessness in three states—California, Nevada, and Rhode Island—reaching record highs, the Labor Department said.
The stock market took a rest Thursday, signaling traders that it may be getting ready to shake off some recent gains.
Rising stock prices are acting as a powerful magnet, prying loose fresh cash and drawing it into a market that's 58 percent above its March lows.
Wall Street's bulls are convinced there is enough good news to graze on for a while longer.
Cash-for-clunkers may have pushed retail sales higher, but the road to recovery is likely be a bumpy one, say economists.
The economy faces a big test next month when the government starts winding down its massive support programs, banking analyst Meredith Whitney told CNBC.
"The V-shaped recovery just got a badly needed shot in the arm today as the consumer is back in the game in a big way," said economist Chris Rupkey.
Even if Lehman Brothers were saved last September, another financial institution would have failed and set off the same global economic crisis that has plagued international markets for the last year, the European Central Bank President told CNBC.
Treasury Secretary Timothy Geithner offered a spirited defense of the government's efforts to forestall another Great Depression but cautioned that the recovery would be slow and painful.
The collapse of Fannie Mae and Freddie Mac one year ago was the result of bad government policy that took too long be corrected, Jim Lockhart, the GSE's former regulator, told CNBC.
Despite the nation's highest jobless rate in 26 years, American workers are seeing some encouraging trends this Labor Day, according to a report released Monday by Rutgers University.
August unemployment data were released this morning and the numbers were not as bad as expected. The rate of job losses is slowing, and some economists think that the rate of jobs lost should reach zero sometime around year end with job growth returning in early 2010.
The unemployment numbers were disappointing at face value, but overall, economic data has been consistently building a foundation for recovery, said Robert Keiser, Standard & Poor's senior director.
The current market rally is based on temporary measures and could evaporate once government stimulus has run its course, Pimco's Mohamed El-Erian told CNBC.
The International Monetary Fund has revised up its forecast for economic growth this year and next in major industrialised economies and worldwide, according to a document obtained by Reuters on Friday.
Dallas Federal Reserve Bank President Richard Fisher on Thursday gave a muted outlook for the U.S. economy, saying a long period of slow growth lies ahead even when the recession ends.
More than 1.3 million Americans' unemployment insurance benefits will run out by the end of the year, placing extra strain on an economy that is just starting to recover from the worst downturn in a generation.
Banks were pressured to take government bailout funds under the Troubled Asset Relief Program whether they wanted to or not, said Bill Cooper, the chairman and CEO of TCF Financial.
After a day in the market that felt more like a punch to the solar plexus on Tuesday the market was surprisingly listless on Wednesday. There is usually some fireworks after a 90% down day, but not this time. There was even some news to chew on.
New documents show Federal Reserve policymakers had greater confidence in August that the recession was ending and felt comfortable slowing the pace of one of its economic revival programs.