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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Economy Watch: May 31, 2009 - June 6, 2009

GM Sells Saturn to Penske

The Post's Kendra Marr just confirmed that General Motors has agreed to a deal to sell another one of its product lines --- Saturn, with Penske as the buyer. GM, which filed for bankruptcy on Monday, has been looking to...

By Michael S. Rosenwald  |  June 5, 2009; 10:47 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
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Stocks Up at Opening

This morning's jobs report was confusing -- unemployment up, job losses down -- but apparently Wall Street likes what it saw, because traders have sent stocks higher this morning. At the open, the Dow is up 73 points, or .8...

By Michael S. Rosenwald  |  June 5, 2009; 9:46 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  
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Inflation Fears Push Gold Near Record Price

Here at The Ticker, we've been waving the yellow caution flag on inflation for some time. Now, investors appear to be agreeing. Gold was pushed to near-record price levels today, edging toward $1,000 per ounce. It's up 11 percent from...

By Frank Ahrens  |  June 4, 2009; 5:06 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: gold, inflation  
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Wal-Mart to Hire 22,000 Workers This Year -- What's It Mean?

This morning, Wal-Mart -- the nation's largest retailer -- said it would hire 22,000 new workers this year. On the face of it, that looks like good news in an economy that could use some. "During this difficult economic time,...

By Frank Ahrens  |  June 4, 2009; 2:29 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Target, consumer spending, retail, wal-mart  
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June 4, 2009

The Washington Post staff share their picks for readings around the Web. U.S. Household Deleveraging and Future Consumption Growth Federal Reserve San Francisco | As American consumers deleverage, it will slow economic growth; people will need to consume less...

By Sara Goo  |  June 4, 2009; 11:37 AM ET  |  Permalink  |  Comments (0)
Categories:  Neil Irwin's Must Reads  
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Treasury Spends Another $135 Million On Low-Cost Housing

The Treasury Department announced moments ago that it is authorizing another $135 million in taxpayer money to be spent building or renovating low-cost housing in Iowa, Maine, New Hampshire, Rhode Island and Washington. The breakdown goes like this: - $72...

By Frank Ahrens  |  June 4, 2009; 11:37 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Treasury, unemployment  
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Markets Open Up Slightly

Wall Street opened slightly up this morning, as it digested May retail numbers that continued to fall. In the first 15 minutes of trading, the Dow was a few points above water. The broader S&P 500 was up about one-third...

By Frank Ahrens  |  June 4, 2009; 9:52 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500, wal-mart  
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Live Blogging: Dealers Get Their Day In Court

Chrysler's dealers are getting their day in court. In what is expected to be a marathon session, U.S. Bankruptcy Judge Arthur Gonzalez is to hear testimony today from dealers that are being dropped by Chrysler under its plan to establish...

By Dan Beyers  |  June 4, 2009; 8:00 AM ET  |  Permalink  |  Comments (4)
Categories:  The Ticker  
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GM Has Reversed 11 Dealer Closings -- So Far

UPDATED at 5:47 p.m.: The heads of GM and Chrysler are defending their bankruptcy-related dealer closings before the Senate Commerce committee underway now. GM chief executive Fritz Henderson said moments ago that his company has received appeals from about 500...

By Frank Ahrens  |  June 3, 2009; 5:47 PM ET  |  Permalink  |  Comments (3)
Categories:  The Ticker  | Tags: Chrysler, Fritz Henderson, GM, Jay Rockefeller, Jim Press  
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Life Insurance Industry: Let Us Choose State Or Federal Regulation

As the Obama administration puts the finishing touches on a plan to overhaul financial regulation, the life insurance industry today issued a plea for one of its top priorities: giving insurers the ability to choose whether they are supervised by...

By Frank Ahrens  |  June 2, 2009; 6:47 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: American Council of Life Insurers, insurance industry  
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May Auto Sales: Toyota Off 38%, GM Down 30%, Ford Off 21%

UPDATED at 3:06 p.m.: May sales of Ford and General Motors vehicles were down sharply compared to May 2008 but did not drop as low as forecasters expected, as the two automakers showed surprising resilience to the ongoing troubles in...

By Frank Ahrens  |  June 2, 2009; 3:06 PM ET  |  Permalink  |  Comments (9)
Categories:  The Ticker  | Tags: Chrysler, Daimler, Ford, GM, Hummer, Mazda, Mercedes, Porsche  
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Pending Home Sales Jump In April

Pending sales of U.S. homes jumped 6.7 percent from March to April, the biggest monthly jump in nearly eight years, the National Association of Realtors reported this morning. Pending sales are up 3.2 percent compared to April 2008. “Housing affordability...

By Frank Ahrens  |  June 2, 2009; 10:20 AM ET  |  Permalink  |  Comments (12)
Categories:  The Ticker  | Tags: National Association of Realtors, home sales  
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Markets Open Flat After Gangbusters Monday

Wall Street opened flat this morning as investors await pending home sales data later this morning, following a Monday rally that pushed the S&P 500 to its highest close in seven months. In the first 15 minutes of trading, the...

By Frank Ahrens  |  June 2, 2009; 9:46 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Dow Jones, National Association of Realtors, nasdaq, s&p 500  
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Live From The GM Bankruptcy Hearing

General Motors filed for bankruptcy protection this morning, marking the end of an era in the American automotive industry. Attorneys for GM will now push for court approval of a transaction that would allow for a quick sale of...

By Dan Beyers  |  June 1, 2009; 12:21 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
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Washington-Area GM Plant Among 17 Closing, Slowing

General Motors is closing its Fredericksburg, Va., components plant by December 2010, the ailing automaker said this morning. GM will close or slow 17 of its plants and support facilities as part of its bankruptcy filing this morning. Here is...

By Frank Ahrens  |  June 1, 2009; 10:47 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: GM  
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Markets Open Up Strongly

Wall Street started June off strongly this morning, opening up across the board as the markets digested some promising consumer spending news and finally got some closure with the historic General Motors bankruptcy filing. In the first half-hour of trading,...

By Frank Ahrens  |  June 1, 2009; 10:07 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Commerce Department, Dow Jones, GM, nasdaq, s&p 500  
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