Tonight President Barack Obama and Mitt Romney will meet for their third and final debate before Election Day.
The latest Gallup poll has Romney leading Obama 52% to 45% among likely voters but Nate Silver, founder of the New York Times' FiveThirtyEight blog, says Gallup is the only poll showing Romney ahead. The latest NBC/Wall Street Journal poll has the candidates tied at 47% apiece among likely voters.
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Shares of Google tumbled as much as 9% Thursday afternoon after the tech giant's third-quarter earnings report showed that its core advertising business was slowing. Google's earnings shocker was accidentally released hours before the scheduled earnings announcement and Nasdaq halted trading of Google shares for almost three hours after the stock lost nearly $22 billion in market value.
Chances are you know someone who has student debt. Two-thirds of all college graduates leave school with student loans. The average balance is $26,600 per student. Last year outstanding student loan debt reached $1 trillion.
Both President Barack Obama and Republican presidential nominee Mitt Romney have addressed the rising cost of college on the campaign trail.
Unfortunately, according to Jason Delisle, director of the New America Foundation's Federal Education Budget Project, neither Obama's nor Romney's proposals to lower student debt will work.
U.S. growth has slowed to 1.3%. Greece and Spain are in recession and China's economy has lost momentum for seven consecutive quarters and is now growing at 7.4%. At the same time, stocks continue to rally and the S&P 500 Index (GSPC) is trading near its year-to-date high.
Gary Shilling, president of A. Gary Shilling & Co., calls this the "grand disconnect." He tells The Daily Ticker, "Either the economies of the world have got to come to life and…rise to meet investor expectations or investors have got to come down to earth. The latter is more likely."
Housing data this week continue to point to a market recovery.
Housing starts surged to 4-year high last month the Commerce Department reported. New home construction increased 15% in September compared with August, and building permits — a number that reflects future building — jumped 11.6% last month. Housing starts reached a seasonally adjusted annual rate of 872,000 units in September and single-family housing construction last month grew 11% to an annual rate of 603,000. New home building grew in three of four U.S. regions.
China's economy slowed for the seventh-straight month in the third quarter to 7.4%, down 0.2% from the previous quarter, and its slowest rate since the first quarter of 2009.
While China's latest GDP reading is spectacular compared to America's paltry 1.3% second quarter GDP growth rate, the single-digit growth is disappointing compared to China's three-decade history of double-digit growth.
A Foxconn xecutive has acknowledged that the company is having trouble making enough iPhone 5s—creating a supply problem that has contributed to Apple's falling stock price and led to analysts cutting their estimates for the company's December quarter.
Wall Street was stunned Tuesday when Citigroup Chairman Vikram Pandit abruptly resigned from the firm after five years on the job.
Pandit told The New York Times that his decision to leave "was something that I had been thinking about for a while" and he approached Citigroup Chairman Mike O'Neill about the possibility on Monday night.