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

Economy Watch: January 3, 2010 - January 9, 2010

Base jumpers leap from new world's tallest building in Dubai

Okay, this is only tangentially related to economics -- it is set in Dubai, which is best with debt problems -- so consider it a little Friday afternoon candy. Two days after the world's tallest building was opened, these two...

By Frank Ahrens  |  January 8, 2010; 5:40 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dubai, base jumping  
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November credit card debt drops record amount

Maybe Americans are serious about spending less and saving more. The Federal Reserve announced moments ago that the revolving credit held by Americans -- that's credit cards -- fell to its lowest level since the Fed started keeping records in...

By Frank Ahrens  |  January 8, 2010; 3:40 PM ET  |  Permalink  |  Comments (19)
Categories:  Fed Reserve , The Ticker  | Tags: Federal Reserve, consumer credit, credit cards  
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Don't be fooled by unemployment holding at 10%

This morning, the Labor Department reported that the official U.S. unemployment rate for December was 10 percent, a figure that was unchanged from November. Some are looking at this figure optimistically, suggesting that it shows unemployment has peaked at 10...

By Frank Ahrens  |  January 8, 2010; 2:15 PM ET  |  Permalink  |  Comments (10)
Categories:  The Ticker , Unemployment  | Tags: BLS, jobless rate, unemployment  
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Truer unemployment rate rises to 17.3%

A truer measure of the nation's unemployment rate rose to 17.3 percent in December, up from 17.2 percent and just off its recent historic high, set in October, according to government data out this morning. The Labor Department's Bureau of...

By Frank Ahrens  |  January 8, 2010; 12:27 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker , Unemployment  | Tags: BLS, jobless rate, unemployment  
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Stocks sink following surprisingly bad jobs data

Stocks are down at opening following today's surprisingly bad December unemployment numbers. In the first 15 minutes of trading, the Dow is down about four-tenths of 1 percent. The broader S&P 500 is down by the same amount and the...

By Frank Ahrens  |  January 8, 2010; 9:52 AM ET  |  Permalink  |  Comments (3)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500, unemployment  
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All eyes on Friday's jobs report

At 8:30 a.m. Friday, the Labor Department will release one of the most anticipated jobs reports in recent memory. Forecasters predict the December national unemployment rate will come in at 10.1 percent, a slight rise over the November rate of...

By Frank Ahrens  |  January 7, 2010; 2:06 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker , Unemployment  | Tags: BLS, Labor Department, Neil Irwin, jobless rate, unemployment  
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Stocks pare losses in midday trading

UPDATED at 1:39 p.m.: Stocks are regaining some of their losses from today's opening. A little more than halfway through the trading day, the Dow is up less than two-tenths of 1 percent. The broader S&P 500 is up a...

By Frank Ahrens  |  January 7, 2010; 1:39 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker , Wall Street  | Tags: Dow Jones, jobless claims, nasdaq, s&p 500  
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Report: New York Fed told bailed-out AIG to hush payments to banks

This is a story that could have some legs: Bloomberg is reporting that the New York Fed told AIG not to publicly disclose payments it was making -- with taxpayer money -- to other banks. This came during the depths...

By Frank Ahrens  |  January 7, 2010; 1:07 PM ET  |  Permalink  |  Comments (0)
Categories:  Bailout , Corporations , Fed Reserve , The Ticker , Treasury , Wall Street  | Tags: AIG, Bloomberg, Darrell Issa, Goldman Sachs, Tim Geithner  
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Justice will take lead in review of Comcast-NBC Universal merger

The Justice Department is taking the lead in the regulatory review of the proposed Comcast-NBC Universal mega media deal, my colleague Cecelia Kang is reporting, indicating that federal regulators are interested in the possible antitrust implications of the tie-up. The...

By Frank Ahrens  |  January 6, 2010; 3:44 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Comcast, FCC, General Electric, Justice Department, NBC Universal  
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Do you like your job? Take the poll, see what others think.

A new survey from the Conference Board research group found that only 45 percent of Americans are satisfied with their work. Read the full article. What about you? -- Frank Ahrens Follow me on Twitter at @theticker...

By Sarah Halzack  |  January 6, 2010; 3:26 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Conference Board  
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Follow me on Twitter

If you like what you read here, you'll like it even faster and shorter on Twitter! With Twitter, I can get business and economic headlines and observations out to you in seconds, rather than have having to take endless minutes...

By Frank Ahrens  |  January 6, 2010; 2:38 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Economy Watch, Frank Ahrens, The Ticker, Twitter  
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Report: Cash for Clunkers has cost $77 million to run

Here's a nice scoop from my colleague Ed O'Keefe: He is reporting that the Transportation Department has spent $77 million to run the Cash for Clunkers program. You can read the full report by clicking here. As regular readers know,...

By Frank Ahrens  |  January 6, 2010; 1:16 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: cash for clunkers  
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Stocks mixed at midday

UPDATED at 1 p.m. with recent numbers: Stocks are mixed at midday, following some troubling employment news. As of 1 p.m., the Dow is just above water. The broader S&P 500 is up by the same amount and the tech-heavy...

By Frank Ahrens  |  January 6, 2010; 1:00 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: ADP, Dow Jones, nasdaq, s&p 500  
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Ford December sales surge 33%, Toyota up 32%, Honda up 24%, GM down 6%, Chrysler down 4%

UPDATED at 4:30 p.m. with Toyota, others: December sales of Ford cars and trucks shot up 33 percent compared with December 2008, solidifying the automaker's primacy among Detroit's Big Three. Toyota, the world's largest automaker, said December sales rose 33...

By Frank Ahrens  |  January 5, 2010; 4:30 PM ET  |  Permalink  |  Comments (34)
Categories:  The Ticker  | Tags: Chrysler, Ford, GM, General Motors, Honda, Nissan, Toyota, VW, auto sales  
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Stocks mixed following data

Stocks are mixed at midday, following yesterday's big rally and some conflicting economic data released this morning. The Dow is down three-tenths of 1 percent. The broader S&P 500 is up less than one-tenth of 1 percent and the tech-heavy...

By Frank Ahrens  |  January 5, 2010; 12:55 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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Northrop Grumman moving HQ to Washington D.C. by 2011

Major defense contractor Northrop Grumman said it plans to move its headquarters from Los Angeles to the Washington D.C. area by 2011. The company is looking for a site in the region and plans to identify one by spring 2010....

By Frank Ahrens  |  January 4, 2010; 4:09 PM ET  |  Permalink  |  Comments (25)
Categories:  The Ticker  | Tags: Boeing, KC-45, Northrop Grumman  
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Does today's market rally predict a strong January 2010?

UPDATED with closing numbers: Stocks staged a big rally today, the first trading day of 2010 and the new decade. (Yes, I believe the new decade starts on Jan. 1, 2010. So don't write me about it.) The Dow closed...

By Frank Ahrens  |  January 4, 2010; 3:30 PM ET  |  Permalink  |  Comments (21)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500, stocks  
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Stocks open 2010 with a rally

Stocks opened 2010 trading with a strong rally, pushed higher by stronger-than-expected manufacturing data, soaring overseas markets and a weak dollar that makes commodities cheaper for foreign buyers. In the first hour of trading, the Dow is up 1.4 percent....

By Frank Ahrens  |  January 4, 2010; 10:55 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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