Economy News
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U.S. durable goods orders up but trend, outlook weak
WASHINGTON - Demand for long-lasting U.S. manufactured goods rebounded more than expected in May and a gauge of planned business spending increased, but a cooling global economy suggests the momentum might not be sustained.
Hard to understand why Fed won't do more, Evans says
CHICAGO - Chicago Federal Reserve Bank President Charles Evans, one of the U.S. central bank's strongest advocates for further monetary policy easing, said Wednesday he is flummoxed by the Fed's timidity in the face of high unemployment and low inflation.
Pending home sales match two-year high
WASHINGTON - Contracts to purchase previously owned U.S. homes matched a two-year high in May, fueling optimism the housing market is poised for a recovery.
Home prices up again, but consumers less confident
NEW YORK - Home prices picked up in April for the third month in a row, the latest indication that a recovery in the housing market is gaining traction. | Video
Lawmakers reach transportation deal, Keystone out
WASHINGTON - Lawmakers from the U.S. Congress cut a deal on a massive transportation bill on Wednesday, ending seven weeks of talks just days before federal funding expires for roads, bridges and mass-transit projects.
Fed's "Operation Twist" has only minor effects: Fisher
CHICAGO - The Federal Reserve's recent move to push down borrowing costs by replacing its short-term securities holdings with longer-term ones is doing more harm than good, a top Fed official who opposed the action said on Tuesday.
Number of U.S. businesses fell in 2010: Census Bureau
WASHINGTON - The number of U.S. businesses with paid employees fell for a third straight year in 2010, but the rate of decrease slowed, the Census Bureau said on Tuesday.
OECD raises red flag on U.S. long-term unemployment
WASHINGTON - The lengthy spells many Americans are spending without work risk leaving a lasting scar of higher unemployment on the U.S. economy and training programs are needed to avert the damage, the OECD said on Tuesday.
U.S. foreign investment gap hits record $4 trillion
WASHINGTON - The value of U.S. assets held by foreigners exceeded that of overseas holdings in the United States by the most ever in 2011 as U.S. government bonds rallied on central bank buying.
S&P; says U.S. faces 20-percent risk of double dip
NEW YORK - The United States faces 20-percent odds of a return to recession, rating agency Standard & Poor's said on Tuesday, although it said a slow recovery remains the company's baseline forecast for the world's biggest economy.
Markets
- U.S.
- Europe
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- Sectors
| DOW | 12,627.01 |  +92.34 |
+0.74% |
| S&P; 500 | 1,331.85 | +11.86 |
+0.90% |
| NASDAQ | 2,875.32 | +21.26 |
+0.74% |
| TR US Index | 120.37 | +1.09 |
+0.91% |
Sector Summary
| Energy | +1.84% |
| Basic Materials | +0.48% |
| Industrials | +0.82% |
| Cyclical Goods & Services | +0.14% |
| Non-Cyclical Goods & Services | +0.87% |
| Financials | +1.21% |
| Healthcare | +0.95% |
| Technology | +0.70% |
| Telecoms | +0.77% |
| Utilities | +1.18% |
The big pension liability adjustment
The Government Accounting Standards Board voted Monday to toughen pension reporting standards, a slight accounting change that has significant repercussions for muniland.
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