Economy News
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May consumer sentiment highest in more than four years
NEW YORK - Consumer sentiment rose to its highest level in more than four years in May as Americans stayed optimistic about the job market, while higher income households expected to see bigger wage increases, a survey released on Friday showed. | Video
Fed's Plosser warns on discretionary policy decisions
ELTVILLE, Germany - The debate over how the Federal Reserve can best articulate its policy actions grew on Friday as a top Fed official warned against discretionary decisions, and asked whether a more systematic approach was desirable.
USDA won't change report schedule for now
WASHINGTON - The U.S. government will gather ideas from all sides on whether to change the release time of potentially market-moving Agriculture Department reports now that exchanges are open nearly all day, an official said on Friday.
Heard in more states: See you in tax court!
- Georgia State Representative Allen Peake owns 20 restaurants and this year he took his frustrations with his tax bills to the state capitol, where he helped push through legislation creating a new state tax court.
IRS prepares for potential private equity tax hike
WASHINGTON - Tax regulators are preparing for a potential tax hike on profits earned by private equity managers such as Republican presidential candidate Mitt Romney known as "carried interest," to be ready if the issue flares up in coming months.
Commercial real estate services expanding in U.S
NEW YORK - New commercial real estate brokerages are launching in the United States, in what may be a sign that the market's recovery is durable.
What would Greek exit mean for the U.S. economy?
WASHINGTON - Uncertainty over the fate of the euro currency is already dampening U.S. economic growth and any significant worsening of the crisis would deal a blow to a recovery that is gradually gathering steam.
USTR Kirk plans to go in January, upbeat on EU-U.S. trade
PARIS - U.S. Trade Representative Ron Kirk said on Wednesday that he expects to leave office at the end of President Barack Obama's first term, and also expressed enthusiasm about the potential for a trade agreement between the United States and the EU to boost jobs and growth on both sides of the Atlantic.
Fed's Dudley says for now, more easing not needed
NEW YORK - Further action by the Federal Reserve to stimulate the U.S. recovery is not warranted for now because current growth is making a dent in "slack" in the economy, including in the labor market, the influential head of the New York Fed said on Thursday.
U.S. defense cuts hit home at Ohio tank plant
LIMA, Ohio - Jeff Bingman began studying psychology in college, but soon ran out of money. He was tending bar when a welding job came open at the plant in this Ohio city of about 38,000 where his father, uncle and brother-in-law all worked building Abrams M1A2 tanks.
Markets
- U.S.
- Europe
- Asia
- Sectors
| DOW | 12,454.83 |  -74.92 |
-0.60% |
| S&P 500 | 1,317.82 | -2.86 |
-0.22% |
| NASDAQ | 2,837.53 | -1.85 |
-0.07% |
| TR US Index | 119.59 | -0.22 |
-0.19% |
Sector Summary
| Energy | -0.07% |
| Basic Materials | -0.51% |
| Industrials | -0.40% |
| Cyclical Goods & Services | -0.06% |
| Non-Cyclical Goods & Services |  +0.23% |
| Financials | -0.42% |
| Healthcare | +0.15% |
| Technology | -0.16% |
| Telecoms | -0.08% |
| Utilities | +0.36% |
Inflation no obstacle to more Fed easing
Another reason the Federal Reserve may have additional room for monetary easing: Inflation expectations fell sharply in May, according to the latest Thomson Reuters/University of Michigan survey of consumer sentiment
Massachusetts sets the bar for transparency
Because of the state's efforts to reach out to the investing community, I predict that its transparency will lead to lower borrowing costs and more stable funding sources in the future.
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