Economy Watch: November 15, 2009 - November 21, 2009
Markets flatten: Have they found their top?
In early afternoon trading, stocks have pared some of their losses, but they are down for the second straight day (and spent most of Wednesday underwater before closing up), so it's worth wondering if this is a blip or the...
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Frank Ahrens
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November 20, 2009; 2:17 PM ET |
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| Tags: Dow Jones, Obama, nasdaq, s&p 500, stimulus
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Leonsis: I was not planning on selling Revolution Money
I had a long talk with Ted Leonsis on Wednesday night about American Express's $300 million purchase of Leonsis's Revolution Money, a PayPal-like online alternative-payment site. I wrote a story in today's paper, which you can read by clicking here....
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Frank Ahrens
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November 19, 2009; 2:44 PM ET |
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| Tags: Revolution Money, Ted Leonsis, Washington Capitals
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Rep. Brady to Geithner: 'Will you step down?'
Rep. Kevin Brady (R-Tex.) just gave a severe tongue-lashing to Treasury Secretary Tim Geithner moments ago in the Joint Economic committee, concluding with a surprising call for Geithner to resign. For a change, Geithner didn't just sit there and take...
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Frank Ahrens
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November 19, 2009; 11:09 AM ET |
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| Tags: Bush, Elijah Cummings, Kevin Brady, Neel Kashkari, Obama, Tim Geithner, unemployment
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Current economic situation: A look backward, and ahead
Let's take a look backward and forward at some leading economic indicators as a way of trying to figure out where we are and where we're going. First, let's look backward. Here's a terrific graphic that The Post's Business section...
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Frank Ahrens
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November 19, 2009; 10:46 AM ET |
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| Tags: Art Hogan, Jefferies, economic indicators, stimulus
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Stocks broadly down at opening
Wall Street opened in a broad sell-off this morning, following a downturn in overseas markets and an uptick in the value of the dollar. In the first 15 minutes of trading, the Dow is down 1 percent. The broader S&P...
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Frank Ahrens
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November 19, 2009; 9:48 AM ET |
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| Tags: Dow Jones, jobless claims, nasdaq, s&p 500
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How tax cuts would have created more jobs than the stimulus
Writing in an opinion piece in today's Wall Street Journal, Michael Boskin -- then-President George H.W. Bush's top economic adviser -- argues that payroll tax cuts for businesses would have created far more jobs than President Obama's $787 billion stimulus....
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Frank Ahrens
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November 18, 2009; 11:31 AM ET |
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| Tags: Michael Boskin, Obama, stimulus plan, tax cuts
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Stocks open mixed following surprise housing-starts slump
Wall Street opened mixed, following data released this morning on consumer inflation and housing starts. In the first 15 minutes of trading, the Dow is down one-tenth of 1 percent. The broader S&P 500 is just barely above water and...
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Frank Ahrens
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November 18, 2009; 9:51 AM ET |
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| Tags: Dow Jones, nasdaq, s&p 500
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Post exclusive interview with Cisco's John Chambers: U.S. can't afford a second stimulus, no double-dip likely
Frank Ahrens (left) interviews Cisco CEO John Chambers. I had breakfast with Cisco Systems chief executive John Chambers this morning in his suite at the Four Seasons hotel in Washington, where he is attending the Wall Street Journal’s CEO...
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Frank Ahrens
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November 17, 2009; 2:31 PM ET |
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| Tags: 3Com, Cisco, H-P, John Chambers, Obama
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Stocks slightly off following wholesale inflation report
Wall Street opened slightly off, following data released this morning that showed wholesale inflation edged up less than expected. In the first 20 minutes of trading, the Dow is just underwater. The broader S&P 500 is down nearly two-tenths of...
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Frank Ahrens
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November 17, 2009; 9:59 AM ET |
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| Tags: Dow Jones, nasdaq, s&p 500
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GM to start repaying government loan -- sort of
General Motors -- the former Detroit giant that you, the taxpayer, now own 61 percent of -- said it will start repaying government loans to the tune of $6.7 billion. Wow. That's a great headline, right? GM's ready to start...
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Frank Ahrens
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November 16, 2009; 11:01 AM ET |
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| Tags: GM, General Motors, bailout
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Key shipping index nearing Sept. 2008 highs
Regular readers of this blog know of the Baltic Dry Index (BDI), the key shipping number that tells you how much stuff is moving on the world's oceans in big boats. The BDI is a measure of shipping costs for...
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Frank Ahrens
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November 16, 2009; 10:19 AM ET |
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| Tags: BDI, Baltic Dry Index
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Stocks rally at open following retail sales news
Wall Street opened up into a rally following positive news about October retail spending released this morning. In the first 15 minutes of trading, the Dow is up nearly 1 percent. The broader S&P 500 is up 1.2 percent and...
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Frank Ahrens
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November 16, 2009; 9:50 AM ET |
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| Tags: Cisco, Dow Jones, Lowe's, nasdaq, s&p 500
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Oct. retail sales up 1.4 percent
October retail sales jumped a higher-than-expected 1.4 percent, according to data released moments ago by the government. If you take out auto sales -- October turned out to be a good month for selling cars -- retail sales were up...
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Frank Ahrens
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November 16, 2009; 8:42 AM ET |
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| Tags: retail sales
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