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

Economy Watch: May 2, 2010 - May 8, 2010

Video: Market massacre, Europe's bubonic debt, what's coming next week

What do this week's market massacre, the growing European debt contagion and today's unemployment report have in common? Me, talking about all three of them on video! Click here to watch the video. Follow me on Twitter at @theticker....

By Frank Ahrens  |  May 7, 2010; 5:37 PM ET  |  Permalink  |  Comments (5)
Categories:  Video  | Tags: computer trading, dija, dow, dow today, down plunge, european debt crisis, frank ahrens, greek debt crisis, sell-off, stock market, unemployment, unemployment rate, wall street  
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Truer unemployment rate rises to 17.1%

Image by Getty Images via DaylifeEach month, as regular readers of this blog know, I unpack the data released by the Labor Department's Bureau of Labor Statistics (BLS) to get beyond the headline unemployment rate number and find out what...

By Frank Ahrens  |  May 7, 2010; 5:30 PM ET  |  Permalink  |  Comments (8)
Categories:  Data , The Ticker , Unemployment  | Tags: Discouraged worker, Economy, Employment, Labor force, Unemployment, United States, bureau labor statistics, joblessness, official unemployment rate, part-time workers, unemployment rate  
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Two-day stock massacre: Thursday, Friday losses wipe out all of 2010's gains

UPDATED at 4:11 p.m. The carnage of the last two days of this week has wiped out all the gains of the year to date. If Thursday's trading day was apocalyptic, Friday's was merely chaotic and unpredictable. Stocks opened up...

By Frank Ahrens  |  May 7, 2010; 4:11 PM ET  |  Permalink  |  Comments (39)
Categories:  The Ticker , Wall Street  | Tags: Business, Day Trading, Dow, Dow Jones Industrial Average, Investing, NASDAQ, NYSE, S&P 500  
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Goldman shareholder ends meeting with a thank-you to Blankfein

UPDATE 12:40 p.m.:The final speaker of the day is the head of a nonprofit in the city that helps at-risk juveniles get quality education. She thanks Goldman for its support and Blankfein thanks her for "all that you do." On...

By Sarah Halzack  |  May 7, 2010; 12:42 PM ET  |  Permalink  |  Comments (9)
Categories:  Wall Street  
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Washington Post Co. reports first-quarter profit of $45.4 million

The Washington Post Co. reported a first-quarter 2010 profit of $45.4 million ($4.91 per share) compared with a net loss of $19.2 million ($2.04) in the first quarter of 2009. First-quarter revenue was $1.17 billion, up 11 percent from the...

By Frank Ahrens  |  May 7, 2010; 9:28 AM ET  |  Permalink  |  Comments (12)
Categories:  The Ticker  | Tags: Advertising, CableOne, Newspaper, Newsweek, Post Co, Washington Post, Washington Post Co, Washington Post Company  
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Unemployment rate rises to 9.9% but 290,000 new jobs added in April

The official U.S. unemployment rate rose to 9.9 percent in April from 9.7 percent in March, but the economy added many more new jobs last month than had been expected. The economy added 290,000 new jobs last month, the Labor...

By Frank Ahrens  |  May 7, 2010; 8:44 AM ET  |  Permalink  |  Comments (161)
Categories:  The Ticker  | Tags: Employment, Government, Recreation, Unemployment, United States, Work, bls, bureau of labor statistics, unemployment rate  
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Lesson of today's stock market plunge: Speed kills

Image by artemuestra via FlickrIf you want to take away a quick lesson from today's massive Wall Street plunge, it's this: speed kills. Here, I'm talking about what "Terminator" fans would call the Rise of the Machines: automatic, untouched-by-human-hands trading....

By Frank Ahrens  |  May 6, 2010; 8:38 PM ET  |  Permalink  |  Comments (11)
Tags: Business, CNBC, Commodities and Futures, Commodity Futures Trading Commission, Investing, Mark Fisher, Trade, Twitter, Wall Street, dija, dow jones, dow jones industrial average, dow jones plunge, european debt, greece debt, greek debt crisis, nasdaq, proctor and gamble, s&p 500, stock market plunge, stock market today, wall street  
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Like black plague, debt contagion sweeps across Europe

Image by Getty Images via DaylifeBetween 1348 and 1350, the bubonic plague, or black death, swept across Europe, killing between 30 percent and 60 percent of Europe's population. Today, a sovereign debt crisis is sweeping across Europe. Call this one...

By Frank Ahrens  |  May 5, 2010; 2:08 PM ET  |  Permalink  |  Comments (3)
Categories:  Deficit/debt , The Ticker  | Tags: Deficit, England, European debt crisis, Goldman Sachs, Greece, Southern Europe, Spain and Portugal, greece debt, greece debt crisis, greek debt, greek debt crisis, portugal debt, spain debt, spain debt crisis, spain housing bust, spain unemployment  
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Newsweek is for sale: Washington Post Co. puts magazine on the block

Image via CrunchBaseUPDATED at 12:32 p.m.: The Washington Post Co. announced this morning that it has hired Allen & Co. to seek buyers for Newsweek magazine, the money-losing newsweekly that The Post Co. has owned for decades. Quoting from the...

By Frank Ahrens  |  May 5, 2010; 12:32 PM ET  |  Permalink  |  Comments (53)
Categories:  Corporations , The Ticker  | Tags: Allen & Company, Donald E. Graham, Magazine, Newsweek, United States, Washington, Washington Post, Washington Post Company  
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Euro debt problems hammer stocks, prompt broad sell-off

Growing European debt crisis hammers U.S. stocks, with all three major indexes down 2 percent.

By Frank Ahrens  |  May 4, 2010; 4:23 PM ET  |  Permalink  |  Comments (11)
Categories:  The Ticker  | Tags: Business, Portugal, Real estate, Southern Europe, Spain, Spain and Portugal, Twitter, United States, european debt, european debt crisis, greece debt, greek debt, manufacturing orders, pending home sales, stock market  
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Spanish P.M. forced to defend nation's solvency

Image via Wikipedia Spain's prime minister, Jose Luis Rodriguez Zapatero (pictured), has now been forced to defend his nation's solvency, as worries persist that Greece's sovereign debt crisis is headed next toward Spain. Zapatero called it "complete madness" that Spain...

By Frank Ahrens  |  May 4, 2010; 1:05 PM ET  |  Permalink  |  Comments (7)
Categories:  Deficit/debt , The Ticker  | Tags: Government, Greece, History, Jose Luis Rodriguez Zapatero, José Luis Rodríguez Zapatero, Moody, Prime minister, Spain, Travel and Tourism, Twitter, european debt crisis, greece debt, greek debt  
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Greek debt: Bailout concessions not nearly Spartan enough

Image by Getty Images via DaylifeGreece has announced the austerity measures -- actually, I should make that "austerity measures" -- that the nation is willing to commit to in order to secure $146 billion in bailout money from the IMF,...

By Frank Ahrens  |  May 3, 2010; 3:52 PM ET  |  Permalink  |  Comments (6)
Categories:  Deficit/debt , The Ticker  | Tags: European Central Bank, Government, Greece, Gross domestic product, International Monetary Fund, Maps and Views, Travel and Tourism, United States, greece bailout, greek bailout, greek debt  
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April sales: Ford, Chrysler(!) surge 25%, Toyota up 24.4%, GM rises 6.4%

Ford, Chrysler April sales surge 25% compared to last year, while GM's rise 6.4%.

By Frank Ahrens  |  May 3, 2010; 3:42 PM ET  |  Permalink  |  Comments (3)
Categories:  Corporations , The Ticker  | Tags: Automotive industry, Autos, Buick, Cadillac, Chrysler, Detroit, Edmunds.com, Ford, General Motors, Sales, april auto sales, auto sales, toyota, toyota sales  
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March construction spending surges, business purchases rise

March construction spending rose more than expected and business purchasing hit its highest level since summer 2004, according to data released moments ago. March construction spending rose 0.2 percent, surprising forecasters who expected a 0.2 percent decline. That in itself...

By Frank Ahrens  |  May 3, 2010; 10:25 AM ET  |  Permalink  |  Comments (4)
Categories:  Data , The Ticker  | Tags: Business, Construction, Construction and Maintenance, Consulting, Contract, Economic, Institute for Supply Management, Twitter, United States, construction spending  
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March consumer spending outpaces wage hikes

Image by Getty Images via Daylife Consumer spending in March rose twice as much as personal income, the government reported moments ago. That's good for the economy but potentially bad for individual consumers, who may be outspending their wages. Personal...

By Frank Ahrens  |  May 3, 2010; 8:44 AM ET  |  Permalink  |  Comments (12)
Categories:  The Ticker  | Tags: Consumer Information, Consumer spending, Consumption, Economy of the United States, Home, Twitter, Unemployment, United States  
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