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Energy gains offset drop in banks

Thu, 15 Oct 2009 22:50:58 GMT

A late-day surge left stocks with modest advances Thursday as a jump in the price of oil lifted energy companies and offset weakness in bank shares.

Oil climbs above $54 on stock market ral

Mon, 23 Mar 2009 18:25:09 GMT

Oil prices topped $54 a barrel Monday, getting a boost from stock investors who seemed hopeful a new plan to resolve the nation's banking crisis would spur economic growth. Better-than-expected housing news helped too.

Wall Street turnsafter unemployment repo

Thu, 19 Mar 2009 17:06:55 GMT

Wall Street turned lower Thursday after a report on jobless claims gave mixed messages about the state of the economy.

Wholesale inventories fall again in Janu

Tue, 10 Mar 2009 15:16:49 GMT

Businesses slashed inventories at the wholesale level for a fifth straight month in January, the longest stretch since the last recession in 2001 and a warning signal that companies are likely to keep cutting production as they cope with the deepening downturn.

Stem-cell stocks jump on Obama policy

Mon, 09 Mar 2009 19:02:31 GMT

Shares of stem-cell therapy developers continued gaining ground Monday after President Obama said he would overturn restrictions on federal funding for embryonic stem cell research.

Services sector shrank in Feb.

Wed, 04 Mar 2009 19:00:33 GMT

A private measure of the services sector shrank in February for the fifth straight month as layoffs mounted, the recession deepened and the outlook for any recovery this year grew darker.

GM, Ford, Toyota sales plunge

Tue, 03 Mar 2009 10:23:31 GMT

Major automakers' U.S. sales continued their deep slump in February, putting the industry on track for its worst sales month in more than 27 years.

Obama budget proposes shift to green

Thu, 26 Feb 2009 19:29:45 GMT

President Barack Obama's first budget plan moves aggressively on several fronts to tackle climate change and shift the nation from reliance on foreign oil to green energy.

Consumer confidence plummets to new low

Tue, 24 Feb 2009 19:27:39 GMT

Americans' already battered confidence in the economy went into free fall in February, sinking to new lows as consumers grow more fearful over massive job cuts and shrinking retirement accounts.

Obama: $15B from stimulus

Mon, 23 Feb 2009 16:14:09 GMT

President Barack Obama told the nation's governors the administration is quickly releasing $15 billion from the stimulus package to help them cover soaring Medicaid costs.

Nearly 5 million are getting unemploymen

Thu, 19 Feb 2009 19:50:13 GMT

The number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000.

Dollar climbs as Obama unveils housing p

Wed, 18 Feb 2009 21:34:45 GMT

The dollar climbed against most major currencies Wednesday as President Barack Obama unveiled a $75 billion mortgage relief plan.

New jobless claims drop slightly to 623,

Thu, 12 Feb 2009 16:42:37 GMT

Nearly 5 million Americans continued to draw jobless benefits late last month, and new requests again exceeded 600,000 as companies lay off scores of workers amid a deepening recession.

Economic stimulus package on track for f

Thu, 12 Feb 2009 16:37:32 GMT

Economic stimulus legislation at the heart of President Barack Obama's recovery plan is on track for final votes Friday in the House and Senate after a dizzying final round of bargaining that yielded agreement on tax cuts and spending totaling $789 billion.

Oil slides toward multiyear lows

Thu, 12 Feb 2009 16:33:05 GMT

Oil prices slid closer to a new multiyear low Thursday because of growing doubts that the $789 billion stimulus package will reinvigorate the economy and demand for energy.

Stocks end higher on agreement on stimul

Wed, 11 Feb 2009 21:42:10 GMT

Investors shuttling between optimism and pessimism have placed a few bets that the economy will improve.

Dollar mixed as agreement emerges on sti

Wed, 11 Feb 2009 21:40:10 GMT

The dollar traded mixed on Wednesday as Congressional negotiators came to an agreement on the economic stimulus bill and the U.S. trade deficit was shown to have narrowed in December.