Economy News

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U.S. jobless claims drop to 5-1/2 year low

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WASHINGTON - The number of Americans filing new claims for unemployment benefits fell unexpectedly last week, touching a 5-1/2 year low, suggesting a steadily improving labor market.

July manufacturing growth hits four-month high: Markit

NEW YORK - U.S. manufacturing grew in July at its quickest pace in four months as output and new orders increased and firms took on more workers, an industry report showed on Thursday.

9:00am EDT

U.S. planned layoffs ease in July: Challenger

NEW YORK - The number of planned layoffs at U.S. firms fell modestly in July, though the healthcare and defense sectors saw the biggest job cuts, a report on Thursday showed.

7:34am EDT

Fed stays on track with bond buying, for now

WASHINGTON - The Federal Reserve on Wednesday said the economy continues to recover but is still in need of support, offering no indication that it is planning to reduce its bond-buying stimulus at its next meeting in September.

31 Jul 2013

Obama defends Summers as he mulls Fed pick

WASHINGTON - President Barack Obama defended Lawrence Summers on Wednesday in the face of concerns by fellow Democrats that the president may name his former economic adviser as chairman of the Federal Reserve, lawmakers said.

31 Jul 2013

Obama to nominate Fed's Raskin as U.S. Treasury deputy

WASHINGTON - President Barack Obama will nominate Federal Reserve Governor Sarah Bloom Raskin to be the U.S. Treasury Department's No. 2 official, the White House said on Wednesday.

31 Jul 2013

Small business hiring slips for third straight month: NFIB

WASHINGTON - Small business employment ticked down in July for a third consecutive month, tempering the more positive signals sent by better-than-expected private job gains last month.

31 Jul 2013

U.S. Treasury to cut auction sizes as borrowing needs fall

WASHINGTON - The United States plans to decrease the auction sizes of two- and three-year notes over the coming months because improving government finances have reduced the need for debt financing, the U.S. Treasury said on Wednesday.

31 Jul 2013

U.S. labor costs rise, point to more steady inflation

WASHINGTON - U.S. labor costs rose in the second quarter and were higher in the prior period than previously estimated, a sign of inflationary pressure that could be a relief to policymakers worried about unusually low inflation.

31 Jul 2013

Money market assets increased in latest week: iMoneyNet

NEW YORK - Money market fund assets increased by $2.03 billion to $2.605 trillion in the week ended July 30, the Money Fund Report said on Wednesday.

31 Jul 2013

Markets

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DOW 15,499.54 -21.05 -0.14%
S&P 500 1,685.73 -0.23 -0.01%
NASDAQ 3,626.37 +9.90 +0.27%
TR US Index 153.33 +0.06 +0.04%
EUR/USD 1.3232 -0.51%
GBP/USD 1.5198 -0.07%
USD/JPY 98.850 +1.01%
Gold 1,321.90 +9.50 +0.72%
Oil 107.15 +2.12 +2.02%
Corn 496.50 -2.50 -0.50%

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