Free Republic

The economy grew at its strongest pace in more than a year during the spring as solid improvements in international trade and business investment helped offset weakness in housing. The gross domestic product, the broadest measure of economic health, expanded at an annual rate of 4 percent in the April-June quarter, significantly higher than the 3.4 percent rate the government had initially estimated a month ago, the Commerce Department reported Thursday. But the growth spurt could be short-lived. There are concerns that the recent turmoil in financial markets, a result of a spreading credit crisis, could seriously dampen economic activity...

NEW YORK (AP) — Wall Street ended its calmest week in a month with a big advance yesterday, rising on solid economic readings that countered the bleak sentiment that has blanketed the financial markets. The Dow Jones Industrial Average rose more than 140 points in a lightly traded session. Stocks started out flat but jumped following a stronger-than-expected reading on new-home sales for July. That report came after a reading showing orders to factories for big-ticket goods rose sharply last month. The stock market's gains yesterday after several stable or positive sessions suggested that Federal Reserve policy-makers and stock market...

WASHINGTON (MarketWatch) -- Sales of new home increased 2.8% in July to a seasonally adjusted annual rate of 870,000 as the inventory of homes for sale dropped for a fourth straight month, the Commerce Department estimated Friday. Sales were stronger than the 820,000 annualized pace expected by economists surveyed by MarketWatch. See Economic Calendar. In addition, sales in June were revised slightly higher. Sales are down 10.2% compared with last July. Read the full report. Stocks turned higher after the report was released. See Market Snapshot. Inventories of unsold homes fell about 1% to 533,000, the fourth consecutive decline. At...

WASHINGTON (AP) — The federal deficit so far this budget year is running sharply lower, driven by record revenues pouring into government coffers. The Treasury Department reported on Friday that the government produced a deficit of $157.3 billion for the budget year that began last Oct. 1. That's a substantial improvement from the red ink figure of $239.6 billion produced for the corresponding 10-month period last year. The lower year-to-date deficit was the result of a record of $2.12 trillion in revenues. Spending, however, was higher — $2.27 trillion, which also marked an all-time high. The White House predicts that...

NEW YORK (CNNMoney.com) -- The Dow industrials surged 286 points Monday, posting its biggest point gain of the year, helped by financial sector strength just ahead of the Federal Reserve's policy meeting. The Dow Jones industrial average (up 262.24 to 13,444.15, Charts) soared 286 points, or 2.16 percent, based on early tallies, rebounding from a 281 point late session selloff Friday. The broader S&P 500 (up 31.47 to 1,464.53, Charts) gained 2.4 percent while the tech-laden Nasdaq composite index (up 31.80 to 2,543.05, Charts) climbed 1.4 percent. Treasury prices retreated, raising the benchmark yield on the 10-year note rising to...

NEW YORK (AP) -- American consumers -- shrugging off a struggling housing market as jobs remained plentiful -- became more confident in July and sent a gauge of sentiment to a six-year-high, a private research group said Tuesday. The New York-based Conference Board said that its Consumer Confidence Index, rebounded to 112.6, its highest level since August 2001 when it recorded a 114.0 reading. That compared to a revised 105.3 in June. The July 24 cutoff for the preliminary survey of 5,000 U.S. households was before last week's stock market tumble, however. "An improvement in business conditions and the job...

WASHINGTON (AP) -- The economy snapped out of a lethargic spell and grew at a 3.4 percent pace in the second quarter, the strongest showing in more than a year. A revival in business spending was a main force behind the energized performance. snip Inflation -- outside a burst in energy and food prices -- moderated. The second quarter's performance was better than the 3.2 percent growth rate economists were expecting. It was the strongest showing since the first quarter of 2006, when the economy expanded at a brisk 4.8 percent annual rate. Gross domestic product measures the value of...

WASHINGTON (AP) -- The economy snapped out of a lethargic spell and grew at a 3.4 percent pace in the second quarter, the strongest showing in more than a year. A revival in business spending was a main force behind the energized performance. The new reading on gross domestic product, released by the Commerce Department on Friday, marked a big improvement from the first three months of this year, when economic growth skidded to a near halt at just a 0.6 percent pace, the slowest in more than four years. Stronger spending by businesses and government powered the rebound in...

Wall Street moved soundly higher Thursday, sending the Dow Jones industrials to their first close above 14,000 as investors kept jitters about the economy at bay and focused on a string of upbeat earnings reports. The Standard & Poor's 500 index also had a record close. Profit news from companies like International Business Machines Corp., network equipment maker Juniper Networks Inc., and business software company SAP AG help lift stocks and boosted investors' appetite for technology issues. Resurgent concerns about the health of subprime loans, which are made to borrowers with poor credit history, hurt financial stocks, while a report...

Blue chip average closes in on another record high, but broader market struggles ahead of a slew of earnings news, inflation reports. By Jessica Dickler, CNNMoney.com staff writer July 16 2007: 2:59 PM EDT NEW YORK (CNNMoney.com) -- The Dow Jones industrial average looked poised to finish in record territory for the third straight session Monday, as the broader market struggled ahead of the week's earnings figures and inflation reports. The Dow (up 36.58 to 13,943.83, Charts) added 0.3 percent after ending the previous session above 13,900 for the first time ever. Earlier in the session the blue-chip index came...

Red ink in Washington is invariably an excuse for raising taxes, so perhaps falling deficits should be a reason to cut them. The Bush Administration's midsession budget review, released yesterday, estimates that the deficit will have shrunk by more than 50% in three years: to $205 billion in the fiscal year ending this September from $413 billion in 2004. As a share of the economy, the budget deficit is expected to fall to 1.5%, well below the 40-year average of 2.4%. Buoyant tax revenues are the major reason for this deficit reduction. So far this year tax receipts are up...

THE PRESIDENT: Thanks for coming. Please be seated. Good afternoon. Welcome to the White House, I'm glad you're here. There are certain traditions that all Americans look forward to: picnics with the family, 4th of July celebrations -- and the mid-session review. (Laughter.) It's the time for us to take a look at the federal budget. Maybe not all Americans look forward to it, but I'm looking forward to talking to the American people about the progress we have made when it comes to growing our economy and keeping our taxes low and being wise about how we spend the...

Job Creation Continues - More Than 8.2 Million Jobs Created Since August 2003 On July 6, 2007, The Bureau Of Labor Statistics Released New Jobs Figures – 132,000 Jobs Created In June. Since August 2003, more than 8.2 million jobs have been created, with more than 2 million jobs created over the twelve months ending in June. Our economy has now added jobs for 46 straight months, and the unemployment rate remains low at 4.5 percent. Americans Are Working And Taking Home More PayReal After-Tax Per Capita Personal Income Has Risen By 9.9 Percent – Nearly $3,000 Per Person –...

Stocks Surge Following Retail Sales Reports; S&P and Dow Set New Record Closes NEW YORK (AP) -- Wall Street soared Thursday, propelling the Standard & Poor's 500 index and Dow Jones industrials to record highs as bright spots among generally sluggish retail sales allowed investors to toss aside concerns about the health of the economy. The rally, which included the Dow's biggest one-day gain in more than four years, was perhaps surprising given that there was no extraordinary announcement or other catalyst usually seen with such a huge gain, and that it came before most companies have announced their second-quarter...

The nation's manufacturing sector showed surprising strength in April, growing at a faster-than-expected pace and pushing up prices for fuel, metals and corn-based products, a trade group said Tuesday. The Institute for Supply Management, based in Tempe, Ariz., said its manufacturing index registered 54.7, above the March reading of 50.9 and Wall Street's expectation of 51. It was the highest reading in 11 months, when it also registered 54.7. A reading above 50 indicates growth for the sector, while a reading below 50 indicates contraction. A sharp spike in the prices paid index fueled ongoing concerns over inflation and interest...

NEW YORK - It looks like a cause for celebration: The Dow Jones industrial average surged from 12,000 to 13,000 in just six months. But appearances can be deceiving, and there may be more reason to worry rather than rejoice about Wall Street's latest accomplishment. Stronger-than-expected profits from several large companies helped push the stock market to historic heights. But many big corporations, including the Dow components, made a chunk of that money overseas, where economies are growing faster than in the U.S. And many of the same worries that weighed on investors earlier in the year remain: rising energy...

Jobless rate falls to five-year low The unemployment rate fell to a five-year low of 4.4 percent as job growth picked up to 180,000 last month — a show of strength that bolstered hopes that the economy will endure the turmoil in the housing and mortgage markets without major harm. The March increase in jobs reported by the Labor Department reflected a revival of hiring among construction companies, department stores and retailers as well as continued robust growth of health care jobs. The construction job gains erased a big loss in February resulting from cold weather and left jobs in...

A higher-than-expected 180,000 nonfarm jobs were added in March while payrolls for the prior two months were revised higher, the Labor Department reported Friday. The unemployment rate unexpectedly fell to a five-year low of 4.4% in March from 4.5% in February. The consensus expectation was for nonfarm payroll growth of 135,000 (down from 150,000 a week ago) and for the unemployment rate to tick up to 4.6%. February payrolls were revised up to 113,000 from 97,000 while January payrolls were revised up to 162,000 from 146,000. Average hourly earnings rose 0.3% last month, in line with expectations. Average hours worked...

Last Freightliner Rig Rolls Off The Line By BRENT HUNSBERGER   Binh Vu, an assembler, walks past the chassis of the last Freightliner. Inside the door are signatures of the men and women who built the truck. (Photo by Frederick D. Joe)     PORTLAND, Ore. — The last Freightliner-branded commercial truck rolled off the production line in Portland this week, catapulting 750 workers onto the unemployment rolls and into a job market that's suddenly cooler than a parked sleeper rig at dawn.Even before the truckmaker's big layoff, Oregon manufacturers had been shedding jobs since August at a faster rate...

The U.S. economy turned in a surprisingly strong performance last year, new data show, growing 3.4 percent despite higher interest rates, high oil prices and the sharpest housing downturn in 15 years. The report from the Commerce Department, showing that economic growth picked up in 2006 from the 3.2 percent growth of 2005, dispelled any lingering doubts about the momentum of the economy going into this year. Many economists predict growth will slow this year, but gone are the recession worries of last summer. "Nothing, other than an external shock, will derail the economy this year," said Eugenio J. Alem?n,...

The U.S. economy resurged at the end of 2006, overcoming a slump in housing as consumers, sustained by lower energy prices, ramped up spending. Gross domestic product climbed at a seasonally adjusted 3.5% annual rate October through December, the Commerce Department said Wednesday in its first of three readings on fourth-quarter GDP. That was up from 2% in the third quarter. A price inflation gauge within the report posted its biggest drop in 52 years. For the whole year, GDP, which acts as a scoreboard for the economy by measuring all goods and services produced, advanced 3.4%, compared to a...

(AP) WASHINGTON Orders to U.S. factories for big-ticket manufactured goods rose in December by the largest amount in three months, led by a huge jump in demand for commercial aircraft and the biggest increase in orders for cars and trucks in more than two years. The Commerce Department reported Friday that new orders for durable goods rose 3.1 percent last month to a seasonally adjusted total of $221.9 billion. The gain followed a 2.2 percent November increase and was the strongest showing since an 8.7 percent September advance. Orders for commercial aircraft surged by 26.5 percent, reflecting the sizable 212...

U.S. stocks rallied on Wednesday, with the Dow closing at a lifetime high, amid optimism about technology earnings after Yahoo Inc. said a new Web advertising system would add to profits sooner than expected and Sun Microsystems Inc. posted a surprise profit. Based on latest available data, the Dow Jones industrial average <.DJI> was up 87.65 points, or 0.70 percent, at 12,621.45. The Standard & Poor's 500 Index <.SPX> was up 12.11 points, or 0.85 percent, at 1,440.10. The Nasdaq Composite Index <.IXIC> was up 34.87 points, or 1.43 percent, at 2,466.28.

NEW YORK (MarketWatch) -- U.S. stocks finished the year with strong gains, with all three major stock averages booking their best performance since 2003. The Dow Jones At the unofficial 4 p.m. close on Friday, the final trading session of the year, marking a 16% gain for the year. This was the Dow's best performance since 2003. General Motors Corp. (

( Reuters) - U.S. consumer confidence rebounded in December, rising to an eight-month high as consumers' view of the labor market improved, a survey showed on Thursday. The Conference Board said its index of consumer sentiment climbed to 109.0 in December -- its highest reading since April 2006 -- from an upwardly revised 105.3 in November. Economists polled by Reuters on average had forecast a December reading of 102.0. But Lynn Franco, director of the Conference Board Consumer Research Center, said there was little to suggest sharp improvement in overall economic activity in the fourth quarter of the year. ``Given...

Employers Boosted Payrolls by 132,000, Unemployment Rate Edges Up to 4.5 WASHINGTON (AP) -- Employers boosted payrolls by a respectable 132,000 in November, but the unemployment rate edged up to 4.5 percent as jobseekers streamed into the labor market by the thousands with the onrushing holidays. The tally of new jobs added to the economy last month marked an improvement from the 79,000 new positions generated in October and was the most since September, the Labor Department reported Friday. It was mostly a cheerful economic message at a time of year when shopping peaks. Although the unemployment rate crept up...

Strong U.S. job growth boosts GOP hopes Republicans worried about losing their congressional majorities in Tuesday's elections say the data justify their economic policies. By Joel Havemann Times Staff Writer November 4, 2006 WASHINGTON — Providing welcome news to Republicans four days before congressional elections, the government reported Friday that jobs grew at a strong pace in the last three months, pushing the unemployment rate to its lowest level in more than five years. The October jobless rate was 4.4%, down from 4.6% in September and the lowest level since May 2001, President Bush's fourth full month in office.

Wages, benefits up at 2-year best pace By MARTIN CRUTSINGER, AP Economics Writer 19 minutes ago WASHINGTON - Wages and benefits paid to American workers rose in the July-September period at the fastest pace in more than two years. The Labor Department reported that its Employment Cost Index was up 1 percent in the third quarter, compared to a 0.9 percent rise in the April-June period. It was the biggest quarterly increase since a similar 1 percent rise in the second quarter of 2004. The increase, which was above the 0.9 percent rise that economists had been expecting, was led...

WASHINGTON (Reuters) -- New orders for U.S.-made durable goods climbed on strong civilian aircraft sales in September, but core orders gained only modestly, a government report said on Thursday likely to confirm the inflation-wary Federal Reserve's projection of modest economic growth. Orders for durable goods -items meant to last three or more years - leaped a much greater-than-expected 7.8 percent in September on a rush of civilian aircraft orders, a Commerce Department report showed. But orders rose a smaller-than-forecast 0.1 percent when volatile transportation orders were stripped from the total. U.S. Treasury debt prices rose and the dollar slipped against...

NEW YORK (MarketWatch) -- U.S. stocks were on the rise late in Thursday's session, after a fresh batch of earnings reports led by Exxon Mobil Corp., Dow Chemical, Comcast Corp and others lifted the S&P 500 Index to its best level in about six years. ADVERTISEMENT With less than an hour of trade left, the Dow Jones Industrial Average, meanwhile, was on track to close at a record for the fourth straight session, while the Nasdaq Composite flirted with six-month highs.

NEW YORK (AP) -- Wall Street extended its October rally Monday as investors grew more optimistic about upcoming earnings reports and Wal-Mart Stores Inc. said it will cut capital spending to drive overall returns. The Dow Jones industrials shot up more than 110 points and crossed 12,100 for the first time. Generally upbeat reports have instilled a new confidence about the future in investors, and allowed them to lay down some bets about the future just half-way through third-quarter earnings season.

The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, jumped two and a half points Thursday to reach its highest level of 2006. At 120.5, the Index is up ten points from a month ago and up thirteen from three months ago. This is just the second time in calendar year 2006 that the Index has topped the 120 mark. The Rasmussen Investor Index also gained ground on Thursday, moving up two points to 145.5. That’s up 18 points from a month ago. Only twice this year has the Investor Index measured higher levels...

NEW YORK (CNNMoney.com) -- Home building may be ready to shake off its 2006 slump, as housing starts posted the biggest jump since January, according to a government report Wednesday. The report also showed that building permits, seen as a sign of builder confidence, fell more than expected. But the housing starts number was seen by some as perhaps a signal that home building has hit bottom and is ready for a recovery. At the very least, the market appeared more resilient than many experts had assumed.

NEW YORK — U.S. consumer sentiment rose more than expected in October, a preliminary report showed on Friday, as consumers' view of both future and current conditions improved.

Federal deficit now lowest in 4 years By MARTIN CRUTSINGER, AP Economics Writer 4 minutes ago The federal budget deficit, helped by a gusher of tax revenues, fell to $247.7 billion in 2006, the smallest amount of red ink in four years. The deficit for the budget year that ended Sept. 30 was 22 percent lower than the $318.7 billion imbalance for 2005, handing President Bush an economic bragging point as Republicans go into the final four weeks of a battle for control of Congress. Both spending and tax revenues climbed to all-time highs. The sharp narrowing of the deficit...

The federal budget estimate for the fiscal year just completed dropped to $250 billion, congressional estimators said Friday, as the economy continues to fuel impressive tax revenues. The Congressional Budget Office's latest estimate is $10 billion below CBO predictions issued in August and well below a July White House prediction of $296 billion. The improving deficit picture _ Bush predicted a $423 billion deficit in his February budget _ has been driven by better-than-expected tax receipts, especially from corporate profits, CBO said.

Before the usual suspects show up. The Dow Average is different measurment then the Highest Price which was 11,908 back in 01-14-2000. Dow 11,850.53 123.19 Nasdaq 2,290.95 47.30 S&P 500 1,350.21 16.10 10 YR 4.57% -0.05 Oil $59.41 $0.73

By Mark Cotton, MarketWatch Last Update: 12:02 PM ET Oct 3, 2006 NEW YORK (MarketWatch) -- U.S. stocks turned higher Tuesday after the price of oil fell to a ten-month low, raising hopes lower energy costs will act as a boost to consumer spending and moderate any excessive slowdown in the economy. More...

Dow industrials close at their highest ever level By Mark Cotton Last Update: 4:06 PM ET Oct 3, 2006 NEW YORK (MarketWatch) -- U.S. stocks ended higher Tuesday, with the Dow Jones Industrial Average closing at its highest level ever, after the price of oil slumped to a 14-month low, raising hopes lower energy costs will boost consumer spending and moderate any slowdown in the economy. The Dow Jones Industrial Average ($INDUDow Jones Industrial Average News , chart, profile, more Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: $INDU ) rose 57 points to an unofficial...

Previous high 11,722.98 in January 2000 At 9:39AM ET: 11,724.46 35.22 (0.30%)

BREAKING ON CNN/MONEY'S WEB SITE: NEWS New home sales up 4.1% in August to 1.05 million annual rate, Reuters reports. Details soon.

NEW YORK (CNNMoney.com) -- Stocks rallied Monday, with the S&P 500 closing at a five-and-a-half-year high, as investors bet that the slowdown in the economy and pullback in energy prices means the Federal Reserve won't lift interest rates again anytime soon. The Nasdaq composite (up 30.14 to 2,249.07, Charts) added nearly 1.4 percent, according to early tallies. The tech-fueled index had been on both sides of unchanged in the morning, before moving higher at midday. The Dow Jones industrial average (up 67.71 to 11,575.81, Charts) added 0.6 percent, ending within 150 points of its all-time high of 11,722.98, hit on...

U.S. stocks rallied Wednesday, with the S&P 500 at a new 5 1/2-year high, after strong results out of Oracle Corp. and Morgan Stanley boosted investor confidence ahead of the upcoming third-quarter earnings season

US Treasury Sets New 1-Day Tax Receipt Record Of $85.8 Billion Tuesday September 19th, 2006 / 0h04 WASHINGTON -(Dow Jones)- The U.S. government recorded record-high overall and corporate tax receipts on Sept. 15, which was a quarterly deadline for tax payments, the Treasury said Monday. Total tax receipts were $85.8 billion on Friday, compared with the previous one-day record of $71 billion on Sept. 15 of last year, the Treasury said. Within the overall figure, corporate tax receipts Friday were $71.8 billion, up from $63 billion in September of last year. Treasury Undersecretary for Domestic Finance Randal Quarles said Friday's...

Consumer confidence zoomed to a seven-month high as lower gasoline prices made people feel a lot better about the current economic climate and their own financial standing.

WASHINGTON - Consumer confidence zoomed to a seven-month high as lower gasoline prices made people feel a lot better about the current economic climate and their own financial standing. The RBC Cash Index, based on the results of the international polling firm Ipsos, showed confidence rebounding to 93.7 in early September. That marked an improvement from August, when consumer confidence sank to a three-month low of 74.8. At that time, the toll of soaring energy prices was blamed for weighing on consumers' psyches. The recent drop in energy prices, however, provided people with some relief and propelled confidence to its...

NEW YORK (CNNMoney.com) -- Stocks rallied Wednesday, closing higher for the fourth session in a row, with all three major market gauges carving out four-month highs, thanks to a broad-based advance. The Nasdaq composite (up 12.02 to 2,227.84, Charts) added around 0.5 percent, according to early tallies, closing at its highest point since May 16. Video More video CNN's Maggie Lake reports on rising Medicare premiums and more business news (Septebmer 13) Play video The Dow Jones industrial average (up 40.74 to 11,538.83, Charts) added about 0.4 percent, adding to the four-month high it hit on Tuesday after jumping 101...

U.S. stocks rally; major averages at 3-month closing highs By Last Update: 4:09 PM ET Sep 1, 2006 NEW YORK (MarketWatch) -- U.S. stocks closed with major averages all at their best levels in three months, following news that wage inflation was tamer than expected last month, while other data showed that consumers stayed optimistic and factory activity remained healthy. "I think this news is just what the Fed is looking for," said Jeff Kleintop, chief investment strategist at PNC Wealth Management. "The fact that wage inflation is heading down is a shot in the arm." The Dow Jones Industrial...

WASHINGTON (AP) -- A hiring revival pulled the nation's unemployment rate down to 4.7 percent in August and flashed a Labor Day weekend message that the slowing economy isn't in danger of fizzling out. The latest snapshot, released by the Labor Department on Friday, was a bit brighter than expected and eased some fears that the economy -- weighed down by a housing slump -- might tip into recession. "This provides some peace of mind," said Oscar Gonzalez, economist at John Hancock Financial Services. Employers boosted payrolls by 128,000 in August, an improvement over the 121,000 jobs created in July....

WASHINGTON (AP) The Labor Department says employers added 128,000 jobs in August, pushing the national unemployment rate down a notch to 4.7 percent.