Economy Watch: January 31, 2010 - February 6, 2010
Stocks rally, erase day's losses
UPDATED at 3:43 p.m. Stocks are staging a dramatic turnaround as the closing bell approaches, erasing almost all of the day's losses. With about 15 minutes to go on the trading day, the Dow is approaching flat after being down...
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Frank Ahrens
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February 5, 2010; 3:43 PM ET |
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Unemployment
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Wall Street
| Tags: Dow Jones, nasdaq, s&p 500, unemployment
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Toyota owners share their scary, positive stories -- and some date back years
Over the past several days, I've received a number of unsolicited e-mails from Toyota owners, sharing the sometimes scary, sometimes positive experiences they've had with their Toyotas, focusing on unintended acceleration and braking problems. And many of these stories go...
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Frank Ahrens
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February 5, 2010; 2:07 PM ET |
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| Tags: Toyota, Toyota recall update, toyota recall model and years
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Truer unemployment rate drops to 16.5%
Okay, let's start unpacking today's January unemployment data. As you saw this morning, the official U.S. unemployment rate in January dropped to 9.7 percent from 10 percent in December. The White House called this an optimistic move and, on paper,...
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Frank Ahrens
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February 5, 2010; 11:28 AM ET |
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| Tags: BLS, Labor Department, unemployment
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Important monthly unemployment report due out Friday
On Friday morning at 8:30, the Labor Department will reveal the official January unemployment rate. Forecasters expect the rate to come in at 10.1 percent, up just a tick from the December rate of 10 percent, which was unchanged from...
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Frank Ahrens
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February 4, 2010; 6:01 PM ET |
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| Tags: Obama, joblessness, mid-term elections, unemployment
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Dow crashes down through 10,000 level, settles just above
UPDATED at 4:20 p.m. The Dow Jones Industrial Average of 30 blue-chip stocks crashed back down through the psychologically important 10,000 barrier just as the closing bell rang on today's trading, as traders worried about tomorrow's U.S. unemployment-rate report and...
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Frank Ahrens
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February 4, 2010; 4:20 PM ET |
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| Tags: Dow Jones, jobless claims, nasdaq, s&p 500
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U.S. government will investigate Prius brakes
UPDATED at 10:25 a.m.: The Transportation Department will open an investigation into owner complaints about brakes on the Toyota Prius hybrid, piling onto the mounting problems at the Japanese auto giant. "The National Highway Traffic Safety Administration (NHTSA) today announced...
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Frank Ahrens
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February 4, 2010; 10:25 AM ET |
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| Tags: Prius, Toyota recall update, brakes, hybrid, toyota recall model and years
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LaHood backs off 'misstatement,' tells owners to take Toyotas to dealer if they are uncertain
Transportation Secretary Ray LaHood tried to back off from a tough statement made earlier today, saying it was a "misstatement" when he said Toyota owners should stop driving their Toyotas right away and take them to dealers. He now says that if Toyota owners are uncertain about their Toyotas, they should take them into their dealers.
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Frank Ahrens
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February 3, 2010; 12:20 PM ET |
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| Tags: Akio Toyoda, Ford, General Motors, Ray LaHood, Toyota
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Stocks open slightly down following positive jobs news
Stocks are slightly down this morning even though a private employers report this morning showed the economy shed fewer jobs than expected. In the first 20 minutes of trading, the Dow is just barely underwater. The broader S&P 500 is...
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Frank Ahrens
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February 3, 2010; 9:57 AM ET |
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| Tags: ADP, Dow Jones, Ray LaHood, Toyota recall update, nasdaq, s&p 500, toyota
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Sen. Gregg hammers Orszag on unspent bailout funds
Sen. Judd Gregg (R-N.H.) really laid the wood to White House budget director Peter Orszag in a Hill hearing this morning over what to do with the remainder of the original bailout, or the $700 billion TARP. Orszag, who, as...
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Frank Ahrens
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February 2, 2010; 2:16 PM ET |
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| Tags: Judd Gregg, Obama, Peter Orszag, TARP, bailout
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January sales: Ford up 24%, GM up 14%, Toyota down 9%, Chrysler down 8%
UPDATED at 1:52 p.m. with GM, Chrysler, others: Ford's January sales were up 24 percent compared to January 2009, the company reported moments ago. January sales reports from other automakers: -- Toyota reported moments ago saying January sales were down...
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Frank Ahrens
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February 2, 2010; 1:52 PM ET |
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The Ticker
| Tags: Ford, Toyota, auto sales
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Stocks rally at midday
UPDATED at 1:45 p.m. Stocks have a nice little rally underway more than halfway through the trading day, buoyed by auto sales data from Ford and a slight uptick in pending home sales. As of 1:45 p.m, the Dow is...
By
Frank Ahrens
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February 2, 2010; 1:45 PM ET |
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| Tags: Dow Jones, Obama, auto sales, nasdaq, s&p 500
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December pending home sales tick upward
December pending home sales index rose 1 percent compared with November, the National Association of Realtors said moments ago. That number is up 10.9 percent over December 2008. The index is based on contracts signed, not closings. Sales are now...
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Frank Ahrens
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February 2, 2010; 10:11 AM ET |
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| Tags: National Association of Realtors, pending home sales
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