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The busiest day yet for second quarter earnings reports could put some juice back into the stock market Thursday.
You know the sound that a large truck makes when it backs up? Beep-beep-beep. Well that sounds like what's coming out of Congress since the nonpartisan Congressional Budget Office said it didn't see any savings in the health care proposals but rather an increase in the deficit of a potential $230 billion.
Despite Dennis Kneale calling the end of the recession, we may be getting ahead of ourselves with talk of "recovery". It's possible we're finding a bottom, but no one knows whether growth will return this quarter or next.
The deal to close California's $26 billion budget deficit included a plan to drill for offshore oil, drawing allegations that the fiscal crisis was used for a backroom deal following rejection of the idea by state regulators earlier this year.
Another wave of much better-than-expected corporate results Tuesday shows that Wall Street's analysts have badly miscalculated earnings this quarter.
Federal Chairman Ben Bernanke on Tuesday fended off congressional skepticism about expanding the Fed's duties to police big financial companies given the central bank's failure to catch problems that led to the financial crisis.
Yesterday the Conference Board reported that its Leading Economic Index (LEI) increased for a third straight month in June. In the report’s wake you could hear the clarion call… the recession has ended, the recession has ended… increase by a few decibels writes Stephen Schork.
Fed Chairman Ben Bernanke delivers important testimony before a House committee, but it's the wave of earnings reports that could decide the day Tuesday.
Nouriel Roubini, the economist whose dire forecasts earned him the nickname "Doctor Doom", told CNBC Monday that the economic recovery is going to be "very ugly."
There's not much economic news this week. Leading Economic Indicators will be reported Monday and if it's a gain (which it should be) it will be the third gain in a row. That would be good. Thursday will see existing home sales reported and they should come in at an annual rate of about 5 million. Thursday the Treasury will announce next week's bond auctions and you can expect 2 year notes and 5 and 7 year bonds totaling over $100 billion dollars.
Earnings season has put some luster back in the stock market, but it may have a tougher time scoring gains in the week ahead.
Under the Obama administration's economic stimulus plan, needy communities were supposed to be first in line for money to rebuild highways and jump start the economy. It hasn't worked out that way.
The U.S. Labor Department says unemployment topped 10 percent in 16 states last month. The rate in Michigan surpassed 15 percent, the first time any state hit that mark since 1984.
Earnings from General Electric, Bank of America and Citigroup Friday will determine whether the market keeps the week's winning streak going.
The stock market decided it loved Intel's earnings report more than it loved my guess that we had to correct a bit more of the rally from the March lows. Intel's very solid earnings, and more important its outlook for the next quarter, caused the shorts to run for cover and the market averages rose about 3% across the board.
Although the depression scare is over, the economy is likely to remain sluggish for some years, said Robert Shiller, Yale University economics professor.
The first days of earnings season seem to have lit a fire under the stock market, but investors are wondering if this week's rally is for real or just a bunch of smoke.
The Federal Reserve expects the economy will sink at a slower pace this year but unemployment will top 10 percent, according to a forecast contained in the latest minutes.
The Federal Reserve released the following economic forecast on Wednesday as part of the minutes of its June 23-24 policy meeting.
Several economic reports were released Tuesday, and the actuality is far different from the headlines. The Producer Price Index came and registered an alarming increase of 1.8%. But if you factor out food and energy, the increase falls to +0.5%. Read further, and that increase is entirely due to a jump in the price of cars and other light vehicles. I