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

Economy Watch: September 27, 2009 - October 3, 2009

Manufacturing Drops in September, Pending Home Sales Rise

A widely watched gauge of U.S. manufacturing activity came in well below expectations in September, the Institute for Supply Manufacturers said moments ago. The ISM's index of manufacturing activity was 52.6 in September, down from the August number and well...

By Frank Ahrens  |  October 1, 2009; 10:18 AM ET  |  Permalink  |  Comments (9)
Categories:  The Ticker  | Tags: ISM, construction spending, pending home sales  
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New Jobless Claims Drive Stocks Down at Opening

A higher-than-expected number of new jobless claims from last week, released this morning, pushed Wall Street down at opening. In the first 15 minutes of trading, the Dow is down 57 points, or nearly 0.6 percent. The broader S&P 500...

By Frank Ahrens  |  October 1, 2009; 9:48 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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Bernanke: Stronger Financial Regulation Needed

In testimony before Rep. Barney Frank's (D-Mass.) Financial Services Committee underway right now, Fed Chairman Ben Bernanke laid out a five-point plan for regulatory reform in the financial sector: 1. All financial institutions -- not just banks -- should have...

By Frank Ahrens  |  October 1, 2009; 9:26 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Barney Frank, Ben Bernanke  
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New Jobless Claims Jump More Than Expected, Personal Spending Rises

New jobless claims last week jumped 17,000 over the previous week, coming in at 551,000, higher than the 531,000 claims expected. Continuing jobs claims came in at 6.09 million, slightly less than expected. In other data, personal spending rose 1.3...

By Frank Ahrens  |  October 1, 2009; 8:48 AM ET  |  Permalink  |  Comments (9)
Categories:  The Ticker  | Tags: Ben Bernanke, auto sales, jobless claims, personal income  
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IMF: Global Economy Has 'Turned the Corner' But Troubles Remain

UPDATED at 2:30 p.m. with IMF quotes: The global economy has "turned the corner" toward recovery, the International Monetary Fund said today in its semi-annual report on the economy, but substantial regulatory reform is needed to prevent a return to...

By Frank Ahrens  |  September 30, 2009; 2:30 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: IMF, International Monetary Fund, toxic assets  
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Stocks Down in Morning Trading

Wall Street has turned negative after opening up slightly this morning, bolstered by a second-quarter GDP number that was revised upward, though it is still negative. In the first 20 minutes of trading, the Dow is down 62 points, or...

By Frank Ahrens  |  September 30, 2009; 9:52 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: ADP, Dow Jones, GDP, gold, nasdaq, s&p 500  
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U.S. GDP Revised Upward in Second Quarter; Private-Sector Job Loss Slows

Second-quarter U.S. GDP was a little better than earlier reported in its final revision issued moments ago, the Commerce Department said. GDP was down 0.7 percent for the quarter, Commerce said, beating the earlier estimate of a 1 percent drop....

By Frank Ahrens  |  September 30, 2009; 8:25 AM ET  |  Permalink  |  Comments (19)
Categories:  The Ticker  | Tags: GDP, Gross Domestic Product  
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SEC Inspector General Tells Agency What It Must Do To Catch Next Madoff

UPDATED at 2 p.m. with comments from SEC inspector general: The inspector general of the Securities and Exchange Commission -- the internal cop of the SEC -- has just issued a long report to the agency filled with changes it...

By Frank Ahrens  |  September 29, 2009; 2:00 PM ET  |  Permalink  |  Comments (2)
Categories:  The Ticker  | Tags: Bernie Madoff, SEC  
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Consumer Confidence Slips in September

Consumer confidence stalled in September, sliding backward from its August levels, according to data out moments ago. The confidence index in September came in at 53.1, down from 54.5 in August, according to the Conference Board's consumer sentiment survey. The...

By Frank Ahrens  |  September 29, 2009; 10:12 AM ET  |  Permalink  |  Comments (2)
Categories:  The Ticker  | Tags: Conference Board, consumer confidence  
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Wall Street Up Modestly

Wall Street moved modestly higher at opening this morning, slightly goosed by not-so-bad news on home prices. In the first 20 minutes of trading, the Dow is up two-tenths of 1 percent. The broader S&P 500 is up about four-tenths...

By Frank Ahrens  |  September 29, 2009; 9:52 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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Home Prices Still Declining, But Tick Up In July

UPDATED at 9:26 a.m.: Home prices are still declining on a year-over-year basis, but they show some signs of lessening their decline, according to the July Case-Shiller home price index, released this morning. Prices ticked up for the third month...

By Frank Ahrens  |  September 29, 2009; 9:26 AM ET  |  Permalink  |  Comments (2)
Categories:  The Ticker  | Tags: Case-Shiller, home prices  
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Big Merger Deals Fuel Today's Wall Street Rally

UPDATED at 4:30 p.m.: A wave of pre-market merger-and-acquisition (M&A) deals pushed Wall Street to its best day in recent weeks, as all three major indexes surged. The Dow closed up 124.17, or 1.3 percent, at 9,789.36 after being up...

By Frank Ahrens  |  September 28, 2009; 4:30 PM ET  |  Permalink  |  Comments (16)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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September 28, 2009

The Washington Post staff share their picks for reading around the Web. Why China Must Do More to Rebalance Its Economy The Financial Times | Columnist Martin Wolf argues that China's efforts to rebalance its economy--toward domestic consumption and...

By Sarah Halzack  |  September 28, 2009; 12:49 PM ET  |  Permalink  |  Comments (1)
Categories:  Neil Irwin's Must Reads  
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Wall Street Opens Higher on Mergers

Wall Street opened higher this morning following a raft of mergers, which gave traders a sense of optimism about the economy following a tough week. In the first 15 minutes of trading, the Dow is up 45 points, or about...

By Frank Ahrens  |  September 28, 2009; 9:43 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Dow Jones, mergers, nasdaq, s&p 500  
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