Economy
Markets rebound after Monday’s crash
Wall Street rallied Tuesday morning, just one day after a historic rout that saw the Dow Jones Industrial Average drop by 2,013 points, the most ever. The Dow soared by almost 800 points at the MORE
economy
Updates
Stocks finish the day in the toilet; almost ends an 11-year bull market
A recap of today’s events: The Dow Jones Industrial Average closed the day with a loss of around 2,000 points Monday, part of a global market rout that saw spiraling sell-offs in the energy sector MORE
Breaking News
Stock market plummets; trips circuit breaker
The Dow plummeted 1,800 points at the open, tripping circuit breakers that halted trading at the New York Stocks Exchange. The growing coronavirus pandemic is also making investors anxious. There are now over 100,000 cases and over 3,000 MORE
Economy
Job numbers rise; stocks tank
February Jobs Report: U.S. Added 273,000 Jobs in February; Unemployment at 3.5%: ■ 273,000 jobs were added in February. Analysts had expected a gain of about 165,000, according to MarketWatch. ■ The unemployment rate was MORE
Economy
Fed cuts rates by half a percentage point to combat coronavirus slowdown
The Federal Reserve announced an emergency rate cut Tuesday of half a percentage point in response to the growing economic threat from the novel coronavirus. The move was the first such cut since December 2008, MORE
Economy
WH’s new economic report claims economy accelerated under Trump; conveniently forgets President Obama’s impact
“The overall evidence of the report as we see it is that three years into the Trump administration the U.S. economy continues to outperform pre-2016 election expectations,” –Tomas Philipson, acting chairman of the White House MORE
Economy
January Jobs Report: 225K jobs created; unemployment ticks up as labor participation increased
Nonfarm payrolls surged 225,000 for the month, well above Wall Street estimates for a 158,000 gain. The unemployment rate ticked higher to 3.6%, but for the right reason as the labor force participation rate increased 0.2 MORE
Business
Gulf Coast Energy Workers Wake Up to Massive Layoffs
Occidental starting widespread layoffs in Houston and beyond Occidental Petroleum is initiating a broad layoff effort this week that will stretch from Houston to Denver as the Permian Basin’s leading oil producer aims to cut MORE
Economy
U.S. added a disappointing 145K jobs; previous months adjusted downward
The U.S. jobs market ended 2019 on a sour note, with December’s payroll and wage growth missing expectations, according to Labor Department figures released Friday. Nonfarm payrolls increased by just 145,000 while the unemployment rate MORE
Economy
New Report: American workers forced to train their foreign replacements
Axios has come out with a new report that claims American workers are forced to train their foreign replacements. The report focus primarily on AT&T. “Opponents of job outsourcing are making a holiday-season appeal to MORE
Economy
Trump’s own government produces detailed federal study showing tariffs backfired, caused job losses and higher prices
President Trump‘s tariffs on imports — meant to boost the economy — ultimately led to job losses and higher prices, a new study from the Federal Reserve has found. Source: The US and China are still “world’s apart” MORE
Economy
One-Third of US Economy Is in 1% of Counties
31 counties accounted for a third of the U.S. economy last year Source: 32.3% of U.S. gross domestic product was concentrated in just 31 counties in 2018, according to government data reviewed by Bloomberg. Why it MORE
Economy
November Jobs Report: 266,000 jobs added
In a nutshell: Nonfarm payrolls surged by 266,000 in November, better than the 187,000 expected by economists polled by Dow Jones. The unemployment rate ticked down to 3.5% from 3.6%, back to the 2019 low MORE
Economy
Market drops after’s Trump’s new tariffs on Brazil and Argentina
According to Reuters, stocks will open lower Tuesday because of Trump’s new tariffs imposed on both Argentina and Brazil. Asian shares tumbled on Tuesday after U.S. President Donald Trump stunned markets with tariffs against imports MORE
Economy
Farm troubles raise risk for Trump in trade talks
Almost 40% of farm profits this year are expected to come from federal assistance, including the trade programme, according to the American Farm Bureau.
But the payments have stirred controversy as the biggest, richest farms – including some foreign-owned firms – collect a majority of the relief. Lobby groups also maintain farmers want markets, not subsidies. MORE
Economy
The U.S.’ historic economic expansion has so enriched 1%ers they now hold almost as much wealth as the middle- and upper-middle classes combined
Historic low interest rates boosting riches of top households The top 1% of American households have enjoyed huge returns in the stock market in the past decade, to the point that they now control more MORE
Economy
Trump: Fed is a Bigger Problem Than China for US Economy
Trump said on Thursday that the Fed is a bigger risk to the US economy than China because interest rates here are higher than in other countries. Trump has called for rates to drop to MORE
Economy
Federal Reserve cuts interest rate for third time this year in effort to boost U.S. economy
The Federal Reserve reduced the benchmark U.S. interest rate for the third time this year Wednesday in an effort to boost the economy as the trade war and a global slowdown threaten to drag the MORE
Economy
Federal Deficit Increases 26% To $984 Billion
The US Treasury reported on Friday that the federal deficit has increased 26% from 2018, to $984 billion. The revenue and spending gap is the highest it has been in seven years. Corporate tax revenues MORE
Economy
Trump appears to have lied again about good economic news with China
China Wants More Talks Before Signing Trade Deal With Trump Source: The U.S. and China have emerged from last week’s talks with different takes on what’s in the accord and how close they are to MORE
Economy
For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year
A new book-length study on the tax burden of the ultrarich begins with a startling finding: In 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the MORE
Business
The Best Economic News No One Wants to Talk About
Stop me if this sounds familiar: For most American workers, real wages have barely budged in decades. Inequality has skyrocketed. The richest workers are making all the money. Earnings for low-income workers have been pathetic this entire MORE
Economy
US manufacturing survey shows worst reading in a decade
A gauge of U.S. manufacturing showed the lowest reading in more than 10 years in September as exports dived amid the escalated trade war. The U.S. manufacturing Purchasing Managers’ Index from the Institute for Supply MORE
Economy
Trump administration exempts more Chinese goods from tariffs
The Trump administration exempted numerous Chinese products from tariffs while the two countries figure out how they want to resolve their Trade War. The items total approximately $250 billion dollars in good and include the MORE
Economy
Trump reverses course, seeks negative interest rates for U.S. debt
U.S. President Donald Trump called on the Federal Reserve to push down interest rates into negative territory, a move reluctantly used by other world central banks to battle weak economic growth as it punishes savers and banks’ earnings in the process. MORE