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

Economy Watch: June 20, 2010 - June 26, 2010

Your one-stop-shop for financial regulatory reform

Here are some links you need to check out if you want to know everything about the sweeping financial regulatory reform bill that was hammered out around 5 a.m. today. Read these, know these and don't read anything else. That's...

By Frank Ahrens  |  June 25, 2010; 2:45 PM ET  |  Permalink  |  Comments (0)
Categories:  Congress , Wall Street  
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U.S. first-quarter GDP revised downward in troubling move

The government made a surprise reduction in its estimate of first-quarter GDP this morning, saying the economy grew at a 2.7 percent rate in the first three months of 2010, not a 3 percent rate, as previously computed. This is...

By Frank Ahrens  |  June 25, 2010; 10:23 AM ET  |  Permalink  |  Comments (0)
Categories:  Data  
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Did Jeff Skilling do anything illegal?

Did Jeff Skilling do anything illegal? That was the question I kept asking myself while listening to federal prosecutors lay out a multiple-count fraud charge against the former Enron chief executive during his May 2006 trial in Houston, which I...

By Frank Ahrens  |  June 24, 2010; 2:45 PM ET  |  Permalink  |  Comments (4)
Categories:  Corporations  
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New weekly jobless claims drop by 19,000; May durable goods orders down, too

The number of new jobless claims filed last week fell by 19,000 to 457,000, the Labor Department reported moments ago, in line with expectations. The number of continuing claims remains near 4.5 million. The official U.S. unemployment rate for May...

By Frank Ahrens  |  June 24, 2010; 8:48 AM ET  |  Permalink  |  Comments (9)
Categories:  Unemployment  
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Top government officials stop work to watch U.S. win World Cup match

It wasn't just your office that came to a standstill during the gripping final moments of the dramatic 1-0 U.S. World Cup victory over Algeria this afternoon. The people who run your government and its economy were watching, too, according...

By Frank Ahrens  |  June 23, 2010; 4:47 PM ET  |  Permalink  |  Comments (0)
Categories:  Congress , Treasury  
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Video: Talking about deepwater drilling, the yuan and taking your questions

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By Frank Ahrens  |  June 23, 2010; 4:24 PM ET  |  Permalink  |  Comments (0)
Categories:  Video  
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May new home sales plunge 33%, surprising everyone

Forecasters were expecting that May new home sales would decrease compared with April, but not by this much: down 32.7 percent to an annualized sales rate of 300,000, which is a record low, according to numbers out moments ago. May...

By Frank Ahrens  |  June 23, 2010; 10:02 AM ET  |  Permalink  |  Comments (30)
Categories:  Data  
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The economic lessons of the Argentina-Greece World Cup match

I like to use every chance I can to point out economics lessons in everyday life, and here's one I just can't pass up: Argentina and Greece just finished a World Cup soccer match. What's economic about that, you ask?...

By Frank Ahrens  |  June 22, 2010; 4:30 PM ET  |  Permalink  |  Comments (0)
Categories:  Deficit/debt  
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Stocks swoon in afternoon sell-off

Stocks didn't wait until the last hour to begin their sell-off today, instead starting their decline shortly after lunch, leading to a triple-digit decline in the Dow and declines in the other two major indexes. The Dow closed down 1.4...

By Frank Ahrens  |  June 22, 2010; 4:22 PM ET  |  Permalink  |  Comments (1)
Categories:  Wall Street  
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Existing home sales take surprise tumble

Sales of existing homes dropped 2.2 percent in May compared with April, surprising forecasters who expected a 6.6 percent rise, according to data released moments ago by the National Association of Realtors. Honestly, it seems hard to write that anyone...

By Frank Ahrens  |  June 22, 2010; 10:36 AM ET  |  Permalink  |  Comments (8)
Categories:  Data  
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Early yuan euphoria fades as stocks close in the red

UPDATED at 4:16 p.m.: The yuan fever lasted until about noon then started tapering off and taking stocks with it. After a promising opening, stocks headed down steadily throughout the day and closed in the red. The Dow closed down...

By Frank Ahrens  |  June 21, 2010; 4:16 PM ET  |  Permalink  |  Comments (20)
Categories:  The Ticker , Wall Street  
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