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Orders for durable goods rose last month by the largest amount in two years, but the rise was mainly fueled by the volatile transportation sector.
Federal Reserve Chairman Ben Bernanke faces a slew of challenges in his second term that will determine whether the US rebounds strongly from recession, Pimco's Mohamed El-Erian told CNBC.
As if adrift at low tide, the stock market could make another shallow move Wednesday in quiet, late summer trading.
President Barack Obama announced Fed Chairman Ben Bernanke's reappointment this morning. The following are CNBC video highlights, where experts weigh in on Bernanke's performance, working relationships and impact on the markets.
"The next phase is almost as difficult as the first one he presided over in saving the economy from a deeper recession or worse,” says one economist.
The rate at which credit card holders fell behind on their payments was far worse in the second quarter than it was last year, but did improve sharply from the alarming level seen in the first three months of 2009.
Home prices and consumer confidence are on the menu Tuesday, but the market may do little more than meander.
Last year, Ben Bernanke seemed nearly as beleaguered as the financial institutions he was protecting, but that image is changing.
Turnabouts in Europe and Asia, along with recent gains in the U.S., are raising hopes that that the global recession is drawing to a close.
Looming in the future is a high-risk challenge for the economy's rescuer-in-chief: He will have to mop up that money without disrupting a nascent recovery. And timing is vital.
Customer satisfaction with products and services available to American consumers is high and increasing, according to the latest American Consumer Satisfaction Index (ACSI).
U.S. loan demand fell in the second quarter for every major category bar prime residential mortgages as banks tightened credit standards and borrowers remained cautious, central bank and government studies showed.
Home builder confidence rose in August to its highest level in more than a year, according to the latest reading of the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
Consumer spending, which roughly accounts for 70 percent of economic activity, and housing, about 20 percent of GDP, have been hit with the equivalent of 100-year storms.
Reappointing Fed Chairman Ben Bernanke is the “right thing” to do, said Former Federal Reserve governor Frederic Mishkin on Monday.
The Federal Reserve said Monday it will extend its Term Asset-Backed Securities Loan Facility another six months through it said conditions were improving in some areas.
The stock market has gotten ahead of reality, Pimco's Mohamed El-Erian told CNBC Friday. The co-chief executive officer of the largest bond fund manager in the world, said the US has yet to see a durable and sustainable recovery.
The economy's bumpy progress is giving the stock market more reason to pause, but the bulls are hanging on for the time being.
The decision came after meetings among state officials. They needed to review California's cash flow and assess investors' appetite for buying California bonds.
The Federal Reserve said it will extend to the end of October a program to buy longer-term government securities, and it kept interest rates steady near zero as expected. Following is the Fed's full statement.