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

Economy Watch: November 29, 2009 - December 5, 2009

Truer U.S. unemployment rate drops to 17.2%

The truer rate of unemployment in America dipped to 17.2 percent in November, down from its recent historic high of 17.5 percent in October. As regular readers of this blog know, I like to dive into and unpack the national...

By Frank Ahrens  |  December 4, 2009; 11:08 AM ET  |  Permalink  |  Comments (22)
Categories:  The Ticker  | Tags: unemployment  
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Stocks surge on drop in unemployment

Stocks surged into a rally this morning, following the government's news that the November unemployment rate dropped to 10 percent from 10.2 percent in October. In the first 30 minutes of trading, the Dow is up 1.1 percent. The broader...

By Frank Ahrens  |  December 4, 2009; 10:14 AM ET  |  Permalink  |  Comments (4)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500, unemployment  
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Join me at 1 p.m. for a live chat on unemployment

Please join me at 1 p.m. today for a live chat, where I'll take your questions on unemployment. Click here to see the discussion and to submit a question, which you can do before the chat starts or as it's...

By Frank Ahrens  |  December 3, 2009; 12:48 PM ET  |  Permalink  |  Comments (4)
Categories:  The Ticker  | Tags: Frank Ahrens, Obama, unemployment  
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Bernanke: It's hard to predict and deflate bubbles in real time

Fed Chairman Ben Bernanke just wrapped up the morning session of his Senate confirmation hearing for a second term. Sen. Chuck Schumer (D-N.Y.) asked Bernanke what he can do to prevent future bubbles, like the housing bubble that led us...

By Frank Ahrens  |  December 3, 2009; 12:13 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Ben Bernanke, Charles Schumer, regulation  
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Stocks open up as White House jobs summit kicks off

Wall Street opened higher on a day when Washington is laser-focused on unemployment. In the first 15 minutes of trading, the Dow is up four-tenths of 1 percent. The broader S&P 500 is up half of 1 percent and the...

By Frank Ahrens  |  December 3, 2009; 9:48 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, Obama, nasdaq, s&p 500, unemployment  
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Be glad you don't live in El Centro, Calif., where unemployment is 30%

The October metro area unemployment numbers came out this afternoon from the Labor Department's Bureau of Labor Statistics. For poor little El Centro, Calif., the news just keeps getting worse. Back in April, unemployment in El Centro was already 25...

By Frank Ahrens  |  December 2, 2009; 3:21 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: unemployment  
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Join me at 1 p.m. Thursday for your questions on jobs

Join me at 1 p.m. Thursday for a live chat where I'll field your questions on unemployment, the biggest issue facing the economy right now. The White House is hosting a jobs summit all day Thursday and has invited numerous...

By Frank Ahrens  |  December 2, 2009; 2:35 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Obama, unemployment  
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Daughter of departing GM CEO pops off -- profanely -- on Facebook

Sarah Henderson -- daughter of Fritz Henderson, who resigned Tuesday as chief executive of General Motors in a surprise, stunning announcement -- apparantly is not sticking with the party line. In a message on Facebook, a Sarah Henderson who identified...

By Frank Ahrens  |  December 2, 2009; 11:19 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Fritz Henderson, GM, General Motors, Sarah Henderson  
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Geithner: Derivatives market needs transparency

Regulation of the derivatives market needs substantial overhaul, including more transparancy, Treasury Secretary Tim Geithner is testifying at this moment in the Senate. Derivatives are basically securities whose value is based on an underlying asset. One type of derivative is...

By Frank Ahrens  |  December 2, 2009; 10:17 AM ET  |  Permalink  |  Comments (5)
Categories:  The Ticker  | Tags: Barney Frank, Tim Geithner, derivatives  
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Stocks mixed at opening following unemployment news

Stocks are mixed this morning on Wall Street following the good-news/bad-news report on jobs in the private sector. In the first 20 minutes of trading, the Dow is flat. The broader S&P 500 is just below water and the tech-heavy...

By Frank Ahrens  |  December 2, 2009; 9:53 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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GM's Fritz Henderson unexpectedly resigns

UPDATED with statement: General Motors chief executive Fritz Henderson, who took over the troubled automaker during its government-backed bankruptcy after former chief executive Rick Wagoner resigned at the urging of the White House, is resigning, the company announced moments ago,...

By Frank Ahrens  |  December 1, 2009; 4:56 PM ET  |  Permalink  |  Comments (5)
Categories:  The Ticker  | Tags: Fritz Henderson, GM, General Motors  
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November sales: Ford up 8.6%, GM up 6%, Toyota up 11.5%, Chrysler down 25%

UPDATED at 4:18 p.m. Monthly vehicle sales figures are coming out one by one today, with automakers reporting November numbers. Chrysler dropped 25 percent compared to November 2008, and were down modestly compared to October of this year. Chrysler reorganized...

By Frank Ahrens  |  December 1, 2009; 4:18 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Acura, Daimler, Ford, GM, Honda, Hyundai, Lexus, Mercedes Benz, Toyota, Volkswagen  
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Comcast-NBC Universal: Same old media merger, or something different?

In my previous life before the economic crisis really exploded in fall of 2008, I covered the media and entertainment industries for several years. It was a terrifically interesting time that saw the beginning and end of the AOL-Time Warner...

By Frank Ahrens  |  December 1, 2009; 1:08 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: AOL, Comcast, MySpace, NBC Universal, NewsCorp, SyFy, Time Warner, USA Network, Universal  
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Stocks continue rally

UPDATED at 12:25 p.m. Stocks are hitting their highest gains of the day, continuing a big surge out of the gates as trading began on Wall Street this morning. As of 12:25 p.m., the Dow is up 1.3 percent. The...

By Frank Ahrens  |  December 1, 2009; 12:25 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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Highest pending home sales since March 2006

October pending homes sales rose for the ninth straight month and hit their highest levels since March 2006, just about when the housing bubble was at its peak. According to data released moments ago by the National Association of Realtors,...

By Frank Ahrens  |  December 1, 2009; 9:54 AM ET  |  Permalink  |  Comments (25)
Categories:  The Ticker  | Tags: ISM, manufacturing, pending home sales  
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December has been best month for stocks over past 100 years

Earlier this year, I told you that September has historically been the worst month for stocks going back several years. September, of course, made a liar of both me and history, as the March rally continued through the first month...

By Frank Ahrens  |  December 1, 2009; 8:29 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500, stocks  
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Somali pirates back at it: Another oil super-tanker seized

Pirates seized the U.S.-bound oil super-tanker Maran Centaurus today while it sailed far off the lawless Somali coast. The 300,000-metric-ton Greek-owned ship can carry up to 2 million barrels of oil. Maritime officials speculated that it was probably the farthest...

By Frank Ahrens  |  November 30, 2009; 11:46 AM ET  |  Permalink  |  Comments (8)
Categories:  The Ticker  | Tags: Somali pirates, oil  
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Analyst: Dubai is the mother of all too-big-to-fails

Here's a good piece in today's Wall Street Journal about the Dubai panic, noting that the problems in Dubai have been well known for more than a year -- ever since $140-per-barrel oil started to fade in the rearview mirror...

By Frank Ahrens  |  November 30, 2009; 11:00 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dubai, Zachary Karabell  
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Stocks stabilize following last week's Dubai debacle

Limited exposure in the U.S. to the troubled Dubai World investment fund helped stocks stabilize in early trading this morning, following a Friday plunge, as traders worried they could be looking at another Lehman Bros. situation. In the first 30...

By Frank Ahrens  |  November 30, 2009; 10:25 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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UAE offers additional liquidity to banks, ahead of Monday's market open

The United Arab Emirates sought to reassure investors on Sunday, saying that it would offer additional liquidity to banks after the biggest bank there spooked investors last week when it said that it would delay debt payments. The announcement comes...

By Sara Goo  |  November 29, 2009; 11:54 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
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