Assessing a tough governmental juggling act, Treasury Secretary Timothy Geithner assured lawmakers Wednesday that stimulus spending to spur the economy now isn't in conflict with a need for longer-term austerity.
The markets appear to be holding on to their gains, despite a disappointing January New Home Sales report. Once again, traders are awaiting Fed Chairman Ben Bernanke’s semi-annual report on monetary policy in front of the House Financial Services Committee. However, they suspect that his comments will lack new insights.
The Obama administration redoubled its efforts on Tuesday to overhaul the nation’s financial regulations, saying it would not back down from its efforts to restrict the trading activities of banks and to create a consumer agency to regulate financial products.
Senior Democrats say the House is preparing to quickly pass a $15 billion job-creating measure once it is approved by the Senate, illustrating new urgency on the part of Democrats to show they are taking steps to improve the national employment picture.
Stocks opened slightly higher Wednesday as the market looked for direction ahead of Fed Chairman Ben Bernanke's semi-annual report on monetary policy and the economy.
He also is throwing down the gauntlet of the prospect of using an aggressive parliamentary move called reconciliation.
One unintended consequence of delaying the hearing was that Bernanke was denied the opportunity to further signal his plans to begin to normalize the spread between the target federal funds rate and the discount rate. The Fed's announcement a week later that it would raise the discount rate last surprised some market participants.
US stock index futures pointed to a flat open for Wall Street before Fed chairman Ben Bernanke's semi-annual report on monetary policy and the economy at 10am ET. Bernanke's words are likely to influence whether the stock market can recover from yesterday's selloff, with the Nasdaq and the S&P 500 posting their biggest one-day losses since February 4. The Dow's nearly 101 point drop was its biggest since February 8.
With President Barack Obama's health care overhaul in limbo, Americans' fears about its effect on them eased in January, according to a poll released as the president tries to revive sweeping Democratic legislation.
A very disappointing consumer confidence report weighed on stocks this morning. The Conference Board revealed its consumer confidence index hit a 10-month low, falling to 46 in February — much lower than the 55 level economists had been expecting. Additionally, consumers’ 6-month outlook on business and employment conditions worsened.
I don't know. I spent the last two weeks from afar and saw conflicting signals.
Volume looks to be a little light early on today, but the news flow is not: Overnight, futures were slightly higher until the IFO Business Sentiment Survey came out in Germany. It was worse than expected. In the U.S., Wall Street will focus on Case-Schiller in the housing sector and consumer confidence. Both Toyota and Greece continue to have a presence...
Reigning in the deficit will be nothing short of a "suicide mission" for the people charged with the task, Alan Simpson, co-chair of President Barack Obama's bipartisan Deficit Reduction Commission, told CNBC Monday.
Simpson said, "A lot of blood hair and eyeballs have to lay on the floor before we finish. There's going to be anguishing. This is a suicide mission". It will come from all sides, the left and the right.
A full agenda on Closing Bell as Maria Bartiromo report live from Washington today. It’s all about the economy, the consumer, jobs… jobs… jobs and healthcare.
It has been a nice bounce back for stocks over the past couple of weeks. After falling about 8 percent off their January highs just 2 weeks ago, big cap indexes (Dow Industrials and S&P 500) are now just 3 percent off their highs.
President Barack Obama prodded states Monday to raise their school standards by using his best leverage: money.
I suppose it’s possible President Obama could have come up with a more anti-market reform to deal with its concerns over higher health insurance rates, but short of creating a single-payer health system, creating a seven-member panel to dictate the prices of health insurance is pretty close.
After their best week since November, stocks are looking to extend their current winning streak to five days. Asia jumped 2 percent overnight, while European markets remain fairly flat today.
US stock index futures pointed to a slightly higher open for Wall Street Monday, following the best weekly gains for the Dow and the S&P 500 in more than three months.