36 states reporting declining unemployment - Dec. 18, 2009
Posted using ShareThis
Friday, December 18, 2009
Friday, December 11, 2009
Pay czar issues salary caps for execs
NEW YORK (CNNMoney.com) -- New pay restrictions were unveiled Friday for hundreds of employees at the nation's biggest bailout recipients.
The ruling, imposed by White House "pay czar" Kenneth Feinberg, will impact 75 out of the 100 highest-paid employees at four companies - Citigroup (C, Fortune 500), AIG (AIG, Fortune 500), automaker General Motors as well as GMAC.
Except in a just a handful of cases, no employee will receive base compensation of more than $500,000 this year in terms of cash and stock.
Bank of America dodges a bullet
Click here for the complete story.
The ruling, imposed by White House "pay czar" Kenneth Feinberg, will impact 75 out of the 100 highest-paid employees at four companies - Citigroup (C, Fortune 500), AIG (AIG, Fortune 500), automaker General Motors as well as GMAC.
Except in a just a handful of cases, no employee will receive base compensation of more than $500,000 this year in terms of cash and stock.
Bank of America dodges a bullet
Click here for the complete story.
Thursday, December 10, 2009
Barack Obama accepts Nobel Peace Prize with stern defence of war - Times Online
President Obama today accepted his Nobel Peace Prize but still said that it is sometimes necessary to go to war.
He opened his speech by acknowledging the controversy over the choice of a wartime president for the prize and saying he reserved the right to take action to protect the United States.
Mr Obama said the use of force was sometimes justified, especially on humanitarian grounds, and in the case of al-Qaeda, negotiations would not cause them to lay down their arms and that a non-violent movement could not have halted Hitler.
Click here for the complete story.
He opened his speech by acknowledging the controversy over the choice of a wartime president for the prize and saying he reserved the right to take action to protect the United States.
Mr Obama said the use of force was sometimes justified, especially on humanitarian grounds, and in the case of al-Qaeda, negotiations would not cause them to lay down their arms and that a non-violent movement could not have halted Hitler.
Click here for the complete story.
Wednesday, December 9, 2009
Geithner Extends $700 Billion Bank-Bailout Program (Update2) - Bloomberg.com
By Robert Schmidt and Rebecca Christie
Dec. 9 (Bloomberg) -- The Obama administration extended the $700 billion financial-rescue program until October, arguing that the U.S. must hold on to the money in case of new financial shocks.
In a letter today to congressional leaders, Treasury Secretary Timothy Geithner said the department doesn’t expect to deploy more than $550 billion of the funds. The Treasury may expand the Federal Reserve’s Term Asset-Backed Securities Loan Facility, an effort to jumpstart securitization markets, and will continue to use the Troubled Asset Relief Program to help struggling homeowners and small companies, he said.
Click here for the complete story.
Dec. 9 (Bloomberg) -- The Obama administration extended the $700 billion financial-rescue program until October, arguing that the U.S. must hold on to the money in case of new financial shocks.
In a letter today to congressional leaders, Treasury Secretary Timothy Geithner said the department doesn’t expect to deploy more than $550 billion of the funds. The Treasury may expand the Federal Reserve’s Term Asset-Backed Securities Loan Facility, an effort to jumpstart securitization markets, and will continue to use the Troubled Asset Relief Program to help struggling homeowners and small companies, he said.
Click here for the complete story.
Wednesday, December 2, 2009
Wednesday, October 7, 2009
I.M.F. Upgrades Forecast for World Economies - NYTimes.com
FRANKFURT — The International Monetary Fund on Thursday forecast that the world economy would expand 3.1 percent next year, after a year in which much of the world struggled through a recession.
Click here for the complete story.
Click here for the complete story.
Google, Verizon Wireless: A Potent Smartphone Team - BusinessWeek
Move over Apple and Research In Motion. Rivalry in the smartphone market has just heated up.
For a while it seemed the bloodiest battle in smartphones would be fought between Apple (AAPL), maker of the iPhone, and BlackBerry maker Research In Motion (RIMM). But an emerging alliance between Google (GOOG) and Verizon Wireless has the potential to create a potent alternative to the BlackBerry and iPhone in the U.S. smartphone market.
Google, Verizon Wireless: A Potent Smartphone Team - BusinessWeek
Shared via AddThis
For a while it seemed the bloodiest battle in smartphones would be fought between Apple (AAPL), maker of the iPhone, and BlackBerry maker Research In Motion (RIMM). But an emerging alliance between Google (GOOG) and Verizon Wireless has the potential to create a potent alternative to the BlackBerry and iPhone in the U.S. smartphone market.
Google, Verizon Wireless: A Potent Smartphone Team - BusinessWeek
Shared via AddThis
Monday, October 5, 2009
U.S. Economy: Service Industries Grow for First Time in a Year - Bloomberg.com
U.S. Economy: Service Industries Grow for First Time in a Year
By Shobhana Chandra
Oct. 5 (Bloomberg) -- U.S. service industries expanded in September for the first time in a year as the emerging recovery spread from housing and factories to the broader economy.
The Institute for Supply Management’s index of non- manufacturing businesses, which make up almost 90 percent of the economy, rose to 50.9, higher than forecast, from 48.4 in August, according to the Tempe, Arizona-based group. Fifty is the dividing line between expansion and contraction.
U.S. Economy: Service Industries Grow for First Time in a Year - Bloomberg.com
Shared via AddThis
By Shobhana Chandra
Oct. 5 (Bloomberg) -- U.S. service industries expanded in September for the first time in a year as the emerging recovery spread from housing and factories to the broader economy.
The Institute for Supply Management’s index of non- manufacturing businesses, which make up almost 90 percent of the economy, rose to 50.9, higher than forecast, from 48.4 in August, according to the Tempe, Arizona-based group. Fifty is the dividing line between expansion and contraction.
U.S. Economy: Service Industries Grow for First Time in a Year - Bloomberg.com
Shared via AddThis
Stocks Set to Bounce; Banks in Focus - WSJ.com
By BARBARA KOLLMEYER
U.S. stock-index futures pointed to a higher open Monday, with the market recovering slightly from last week's disappointing nonfarm payrolls data.
Less than two hours before the start of trading, Dow Jones Industrial Average futures were 41 points higher at 9476. The S&P 500 futures gained 5.3 to 1027, and Nasdaq 100 futures added 10 points to 1672.25. Changes in futures do not always accurately predict early market moves after the opening bell.
Investors will be eyeing a report on business activity in the services sector for signs of an improving economy. The ISM survey is scheduled to be released at 10 a.m., with expectations that the index will rise from 48.4 last month to the 50 level, according to economists polled by MarketWatch.
Click here for the complete story.
U.S. stock-index futures pointed to a higher open Monday, with the market recovering slightly from last week's disappointing nonfarm payrolls data.
Less than two hours before the start of trading, Dow Jones Industrial Average futures were 41 points higher at 9476. The S&P 500 futures gained 5.3 to 1027, and Nasdaq 100 futures added 10 points to 1672.25. Changes in futures do not always accurately predict early market moves after the opening bell.
Investors will be eyeing a report on business activity in the services sector for signs of an improving economy. The ISM survey is scheduled to be released at 10 a.m., with expectations that the index will rise from 48.4 last month to the 50 level, according to economists polled by MarketWatch.
Click here for the complete story.
Tuesday, September 29, 2009
Home Prices Rebound as Tax-Credit Expiration Looms - BusinessWeek
A national average of home prices increased 1.6% from June to July, according to the S&P/Case-Shiller report
By Phil Mintz
Is the home price recovery real or being artificially supported by the $8,000 first-time home buyer's tax credit that's scheduled to expire at the end of November?
That's one of the questions being raised by the Standard & Poor's/Case-Shiller home price report for July, issued Sept. 29. Home prices increased 1.6% from June to July in the 20 metro markets tracked by the report, though they are still down 13.3% from a year ago. It was the third straight month of price increases for the 20-market average, as well as a narrower 10-city composite.
"The rate of annual decline in home price values continues to decelerate and we now seem to be witnessing some sustained monthly increases across many of the markets," David M. Blitzer, chairman of the index committee at Standard & Poor's, said in a news release. "The two composites and all metro areas are showing an improvement in the annual rates of return, as seen through a moderation in their annual declines."
Click here for the complete story.
By Phil Mintz
Is the home price recovery real or being artificially supported by the $8,000 first-time home buyer's tax credit that's scheduled to expire at the end of November?
That's one of the questions being raised by the Standard & Poor's/Case-Shiller home price report for July, issued Sept. 29. Home prices increased 1.6% from June to July in the 20 metro markets tracked by the report, though they are still down 13.3% from a year ago. It was the third straight month of price increases for the 20-market average, as well as a narrower 10-city composite.
"The rate of annual decline in home price values continues to decelerate and we now seem to be witnessing some sustained monthly increases across many of the markets," David M. Blitzer, chairman of the index committee at Standard & Poor's, said in a news release. "The two composites and all metro areas are showing an improvement in the annual rates of return, as seen through a moderation in their annual declines."
Click here for the complete story.
Home Prices in 20 U.S. Cities Rose by Most Since 2005 (Update3) - Bloomberg.com
Sept. 29 (Bloomberg) -- Home values in 20 U.S. metropolitan areas climbed in July by the most in almost four years, a sign the housing slump that led to the worst recession in seven decades is abating.
The S&P/Case-Shiller home-price index rose 1.2 percent in July from the prior month, the biggest gain since October 2005, the group said today in New York. From a year earlier, values were down 13.3 percent, less than economists anticipated. Another report showed consumer confidence unexpectedly fell.
Foreclosure-driven price declines, low borrowing costs and government tax credits for first-time buyers have lifted home sales for much of this year, helping to slow the decline in prices. Stability in real-estate values and rising stock prices may help prop up spending as American consumers fret over mounting joblessness.
Click here for the complete story.
The S&P/Case-Shiller home-price index rose 1.2 percent in July from the prior month, the biggest gain since October 2005, the group said today in New York. From a year earlier, values were down 13.3 percent, less than economists anticipated. Another report showed consumer confidence unexpectedly fell.
Foreclosure-driven price declines, low borrowing costs and government tax credits for first-time buyers have lifted home sales for much of this year, helping to slow the decline in prices. Stability in real-estate values and rising stock prices may help prop up spending as American consumers fret over mounting joblessness.
Click here for the complete story.
Thursday, September 24, 2009
Existing-Home Sales Ease Following Four Monthly Gains
Existing-home sales in August gave back some of their strong gain in July but remain above year-ago levels, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 2.7 percent to a seasonally adjusted annual rate1 of 5.10 million units in August from a pace of 5.24 million in July, but remain 3.4 percent above the 4.93 million-unit level in August 2008. In the previous four months, sales had risen a total of 15.2 percent.
Lawrence Yun, NAR chief economist, said the tax credit is working. “Home sales retrenched from a very strong improvement in July but continue to be much higher than before the stimulus. The first-time buyer tax credit is having the intended impact of bringing buyers into the market, allowing them to take advantage of very favorable affordability conditions,” he said. “Some of the give-back in closed sales appears to result from rising numbers of contracts entering the system, with some fallouts and a backlog contributing to a longer closing process, but the decline demonstrates we can’t take a housing rebound for granted.”
Click here for the complete story.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 2.7 percent to a seasonally adjusted annual rate1 of 5.10 million units in August from a pace of 5.24 million in July, but remain 3.4 percent above the 4.93 million-unit level in August 2008. In the previous four months, sales had risen a total of 15.2 percent.
Lawrence Yun, NAR chief economist, said the tax credit is working. “Home sales retrenched from a very strong improvement in July but continue to be much higher than before the stimulus. The first-time buyer tax credit is having the intended impact of bringing buyers into the market, allowing them to take advantage of very favorable affordability conditions,” he said. “Some of the give-back in closed sales appears to result from rising numbers of contracts entering the system, with some fallouts and a backlog contributing to a longer closing process, but the decline demonstrates we can’t take a housing rebound for granted.”
Click here for the complete story.
Markets may rise further in the next 6 months- Global Markets-Markets-The Economic Times
NEW YORK: Given that US stocks have rallied nearly 60 percent in just six months, you'd expect valuations were getting a bit prohibitive.
But the resiliency of the latest rally shows that investors are unfazed by the market's current multiples, regarding stocks as still relatively cheap.
With interest rates close to zero, earnings expected to improve in the third quarter, and inflation subdued, stock market bulls have much working in their favor, making it likely that the market will rise further in the next six months.
Click for the complete story.
But the resiliency of the latest rally shows that investors are unfazed by the market's current multiples, regarding stocks as still relatively cheap.
With interest rates close to zero, earnings expected to improve in the third quarter, and inflation subdued, stock market bulls have much working in their favor, making it likely that the market will rise further in the next six months.
Click for the complete story.
Jobless Claims Declined in Latest Week - WSJ.com
WASHINGTON -- The number of U.S. workers filing new claims for jobless benefits unexpectedly declined last week, according to a Labor Department report Thursday.
Meanwhile, total claims lasting more than one week also decreased.
Initial claims for jobless benefits fell 21,000 to 530,000 in the week ended Sept. 19, the department said in its weekly report.
Economists surveyed by Dow Jones Newswires had expected a rise of 5,000. The previous week's level was revised from 545,000 to 551,000.
Click here for the complete story.
Meanwhile, total claims lasting more than one week also decreased.
Initial claims for jobless benefits fell 21,000 to 530,000 in the week ended Sept. 19, the department said in its weekly report.
Economists surveyed by Dow Jones Newswires had expected a rise of 5,000. The previous week's level was revised from 545,000 to 551,000.
Click here for the complete story.
Friday, September 18, 2009
Colorado jobs up, unemployment sharply lower - Denver Business Journal:
In some of the best news about jobs in Colorado since the start of the recession, employment grew 4,900 in August, and the state's jobless rate fell half a percentage point, to 7.3 percent, the lowest since February, the Colorado Department of Labor and Employment reported Friday.
"This improvement is encouraging news for the state," Donald Mares, the department's executive director, said in a statement. "Although we will likely experience some ups and downs over the next several months, employment appears to be stabilizing."
Click here for the complete story.
"This improvement is encouraging news for the state," Donald Mares, the department's executive director, said in a statement. "Although we will likely experience some ups and downs over the next several months, employment appears to be stabilizing."
Click here for the complete story.
Thursday, September 17, 2009
Housing Starts in U.S. Climb to Nine-Month High (Update1) - Bloomberg.com
Sept. 17 (Bloomberg) -- Builders in the U.S. broke ground in August on the most houses in nine months, led by a jump in multifamily dwellings that overshadowed a decrease in construction of single-family homes.
Housing starts rose 1.5 percent to an annual rate of 598,000, as anticipated, figures from the Commerce Department showed today in Washington. Single-family projects dropped 3 percent, the first decrease since January, while work began on 25 percent more multifamily units, such as apartments.
Click here for the complete story.
Housing starts rose 1.5 percent to an annual rate of 598,000, as anticipated, figures from the Commerce Department showed today in Washington. Single-family projects dropped 3 percent, the first decrease since January, while work began on 25 percent more multifamily units, such as apartments.
Click here for the complete story.
Tuesday, September 15, 2009
China economy surprisingly strong; policy intact | Reuters
BEIJING (Reuters) - Chinese industrial output and other economic data surprised on the upside in August, suggesting its recovery is on a solid course but not so strong that Beijing will need to hit the policy brakes anytime soon.
Asian shares edged up as the data supported regional recovery hopes, while the Australian dollar cut losses against the dollar and yen and oil prices rose above $72 a barrel.
Click here for complete story.
Asian shares edged up as the data supported regional recovery hopes, while the Australian dollar cut losses against the dollar and yen and oil prices rose above $72 a barrel.
Click here for complete story.
U.S. recession ends, jobless outlook bleak: survey | Reuters
WASHINGTON (Reuters) – The U.S. employment picture will stay bleak well into next year long after the recession ends, but the worst of the labor market crisis is over, top private economists said on Thursday.
Private economists polled for the Blue Chip Economic Indicators September survey say the unemployment rate will reach at least 10 percent in early 2010 and “recede from that level only grudgingly over the second half of the year”.
Click here for complete story.
Private economists polled for the Blue Chip Economic Indicators September survey say the unemployment rate will reach at least 10 percent in early 2010 and “recede from that level only grudgingly over the second half of the year”.
Click here for complete story.
Thursday, September 10, 2009
Geithner Says Bailout Programs Are Shrinking - NYTimes.com
Geithner Says Bailout Programs Are Shrinking
EDMUND L. ANDREWS
Published: September 10, 2009
WASHINGTON — One of President Obama’s top economic strategists said on Thursday that the government was now starting to shrink many parts of the gigantic financial bailout that followed the collapse of Lehman Brothers last September.
“We must begin winding down some of the extraordinary support we put in place for the financial system,” said the Treasury secretary, Timothy F. Geithner, in written testimony prepared for the Congressional Oversight Panel on the Treasury’s $700 billion rescue program.
Click here for the complete story.
EDMUND L. ANDREWS
Published: September 10, 2009
WASHINGTON — One of President Obama’s top economic strategists said on Thursday that the government was now starting to shrink many parts of the gigantic financial bailout that followed the collapse of Lehman Brothers last September.
“We must begin winding down some of the extraordinary support we put in place for the financial system,” said the Treasury secretary, Timothy F. Geithner, in written testimony prepared for the Congressional Oversight Panel on the Treasury’s $700 billion rescue program.
Click here for the complete story.
Wednesday, September 9, 2009
Full Video of President Obama's Healthcare Speech, 09-09-09
Visit msnbc.com for Breaking News, World News, and News about the Economy
Tuesday, September 8, 2009
The Associated Press: Stocks open higher amid optimism over recovery
Stocks open higher amid optimism over recovery
By IEVA M. AUGSTUMS (AP)
The stock market is opening higher as merger news raised investors' optimism about an economic recovery.
U.S. stocks are rising, following the lead of markets around the world. Investors are encouraged by news that two British mobile phone companies may combine. And while Cadbury PLC has rejected a takeover bid from Kraft Foods Inc., companies' reviving interest in making acquisitions is being seen as a positive sign for the economy.
Click here for the complete story.
By IEVA M. AUGSTUMS (AP)
The stock market is opening higher as merger news raised investors' optimism about an economic recovery.
U.S. stocks are rising, following the lead of markets around the world. Investors are encouraged by news that two British mobile phone companies may combine. And while Cadbury PLC has rejected a takeover bid from Kraft Foods Inc., companies' reviving interest in making acquisitions is being seen as a positive sign for the economy.
Click here for the complete story.
Wednesday, September 2, 2009
Dr. Gupta offers advice to parents on H1N1 - CNN.com
By Dr. Sanjay Gupta
CNN Chief Medical Correspondent
(CNN) -- Over this past week, I had some interesting conversations with colleagues who are also health care professionals. These conversations usually start with, "You know what I hate about the media ... ?"
Now, over the past eight years, I have grown accustomed to being engaged in these sort of discussions where I am asked about everything the "media" have reported over the past few months, and asked to defend things point by point. It can be a challenging task.
Click here for the complete story.
CNN Chief Medical Correspondent
(CNN) -- Over this past week, I had some interesting conversations with colleagues who are also health care professionals. These conversations usually start with, "You know what I hate about the media ... ?"
Now, over the past eight years, I have grown accustomed to being engaged in these sort of discussions where I am asked about everything the "media" have reported over the past few months, and asked to defend things point by point. It can be a challenging task.
Click here for the complete story.
Challenger jobs report shows pace of cuts slowing - Sep. 2, 2009
NEW YORK (CNNMoney.com) -- The pace of U.S. job losses has slowed, but we're not out of the woods yet, suggests a report released Wednesday.
Outplacement firm Challenger, Gray & Christmas Inc. reported that 76,456 jobs were cut in August, 21% fewer than in July. It was the lowest total since June, when 74,393 layoffs were announced.
Though that's encouraging, a possible jobs recovery depends on what happens in the next few months, Challenger said.
Click here for the complete story.
Shared via AddThis
Outplacement firm Challenger, Gray & Christmas Inc. reported that 76,456 jobs were cut in August, 21% fewer than in July. It was the lowest total since June, when 74,393 layoffs were announced.
Though that's encouraging, a possible jobs recovery depends on what happens in the next few months, Challenger said.
Click here for the complete story.
Shared via AddThis
Tuesday, September 1, 2009
Pending home sales rise 3.2% in July, 6th straight increase - Sep. 1, 2009
NEW YORK (CNNMoney.com) -- More Americans signed sales contracts to buy homes in July than in June, marking the longest streak of monthly increases on record, said a report released Tuesday.
The pending home sales index from the National Association of Realtors rose 3.2% in July after rising by 3.6% in June. That's 12% higher than July 2008, and it marks the sixth straight increase since record-keeping began in 2001.
Click here for complete story.
The pending home sales index from the National Association of Realtors rose 3.2% in July after rising by 3.6% in June. That's 12% higher than July 2008, and it marks the sixth straight increase since record-keeping began in 2001.
Click here for complete story.
Stocks Higher to Start September - WSJ.com
Stocks edged higher Tuesday as new data showing that U.S. manufacturing activity has begun to expand for the first time in a year and a half were offset by a slide in construction spending.
The Dow Jones Industrial Average was recently up 23 points at 9520. The S&P 500 gained 0.4%. The Nasdaq Composite Index was up 0.9%, supported by a 1.7% climb for Ebay after it reached a deal to sell 65% of Skype to an investor group.
The Institute for Supply Management said its monthly manufacturing index rose to 52.9 in August, the highest reading since June 2007, from 48.9 in July. The report beat expectations and topped 50, the level indicating growth in the factory sector, for the first time since January 2008.
Click here for the complete story.
The Dow Jones Industrial Average was recently up 23 points at 9520. The S&P 500 gained 0.4%. The Nasdaq Composite Index was up 0.9%, supported by a 1.7% climb for Ebay after it reached a deal to sell 65% of Skype to an investor group.
The Institute for Supply Management said its monthly manufacturing index rose to 52.9 in August, the highest reading since June 2007, from 48.9 in July. The report beat expectations and topped 50, the level indicating growth in the factory sector, for the first time since January 2008.
Click here for the complete story.
US Stocks Edge Higher As US Mfg Activity Expands; DJIA Up 23 - MarketWatch
Stocks edged higher Tuesday as new data showing that U.S. manufacturing activity has begun to expand for the first time in a year and a half were offset by a slide in construction spending.
The Dow Jones Industrial Average was recently up 23 points at 9520. The S&P 500 gained 0.4%. The Nasdaq Composite Index was up 0.9%, supported by a 1.7% climb for Ebay after it reached a deal to sell 65% of Skype to an investor group.
The Institute for Supply Management said its monthly manufacturing index rose to 52.9 in August, the highest reading since June 2007, from 48.9 in July. The report beat expectations and topped 50, the level indicating growth in the factory sector, for the first time since January 2008.
Click here for the complete story.
The Dow Jones Industrial Average was recently up 23 points at 9520. The S&P 500 gained 0.4%. The Nasdaq Composite Index was up 0.9%, supported by a 1.7% climb for Ebay after it reached a deal to sell 65% of Skype to an investor group.
The Institute for Supply Management said its monthly manufacturing index rose to 52.9 in August, the highest reading since June 2007, from 48.9 in July. The report beat expectations and topped 50, the level indicating growth in the factory sector, for the first time since January 2008.
Click here for the complete story.
Thursday, August 27, 2009
CNNMoney.com Pre-Market Report - Aug. 27, 2009
NEW YORK (CNNMoney.com) -- U.S. stocks were set for a slightly higher start Thursday, as invesetors show little reaction to reports on jobless claims and gross domestic product.
At 8:56 a.m. ET, the Dow Jones industrial average, Nasdaq 100 and Standard & Poor's 500 futures were a shade higher.
Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
Click here for the complete story.
At 8:56 a.m. ET, the Dow Jones industrial average, Nasdaq 100 and Standard & Poor's 500 futures were a shade higher.
Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
Click here for the complete story.
Wednesday, August 26, 2009
National new home sales jump in July - Kansas City Business Journal:
Sales of new homes rose 9.6 percent in July from June to an annual pace of 433,000, according to the U.S. Department of Commerce.
July sales nationally were down 13.4 percent from last year.
The average sales price of a new home nationally in July was $269,200, and the number of new homes on the market at the end of July was 271,000, or a 7.5-month supply, based on the current sales rate, the agency said.
Click here for the complete story.
July sales nationally were down 13.4 percent from last year.
The average sales price of a new home nationally in July was $269,200, and the number of new homes on the market at the end of July was 271,000, or a 7.5-month supply, based on the current sales rate, the agency said.
Click here for the complete story.
July new home sales blast past expectations - Aug. 26, 2009
By Les Christie, CNNMoney.com staff writer
Last Updated: August 26, 2009: 12:36 PM ET
NEW YORK (CNNMoney.com) -- Sales of newly constructed homes leaped unexpectedly in July to hit their highest level since last September.
New homes sold at an annualized rate of 433,000 during the month, according to a joint report issued by the Census Bureau and Department of Housing and Urban Development.
That far exceeded analysts' forecasts and was up 9.6% from the revised 395,000 rate recorded in June. A consensus of industry experts surveyed by Briefing.com had predicted July sales of 390,000.
Click here for the complete story.
Last Updated: August 26, 2009: 12:36 PM ET
NEW YORK (CNNMoney.com) -- Sales of newly constructed homes leaped unexpectedly in July to hit their highest level since last September.
New homes sold at an annualized rate of 433,000 during the month, according to a joint report issued by the Census Bureau and Department of Housing and Urban Development.
That far exceeded analysts' forecasts and was up 9.6% from the revised 395,000 rate recorded in June. A consensus of industry experts surveyed by Briefing.com had predicted July sales of 390,000.
Click here for the complete story.
July new US home sales up 9.6 percent - Boston.com
WASHINGTON—New U.S. home sales surged 9.6 percent in July, rising for the fourth straight month and beating expectations as the housing market marches steadily back from its historic downturn.
The Commerce Department said Wednesday that sales rose to a seasonally adjusted annual rate of 433,000 from an upwardly revised June rate of 395,000.
It was the strongest sales pace since September and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 390,000 units. The last time sales rose so dramatically was in February 2005.
Click here for the complete story.
The Commerce Department said Wednesday that sales rose to a seasonally adjusted annual rate of 433,000 from an upwardly revised June rate of 395,000.
It was the strongest sales pace since September and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 390,000 units. The last time sales rose so dramatically was in February 2005.
Click here for the complete story.
Reports suggest Mass. home buyers overcoming qualms - The Boston Globe
Home prices in Greater Boston have increased for three straight months and the number of houses selling is up sharply, suggesting that the long housing slump is over.
June home prices were a strong 2.6 percent above the previous month, and the number of single-family homes that sold statewide in July was a whopping 12 percent higher than a year ago. While these data come from different sources, and measure different components of the real estate market, they point to a market that is heading upward.
Housing industry specialist Karl E. Case, a professor of economics at Wellesley College, said the Boston market is “bottoming out.’’ He noted that the housing index he cofounded, the S&P/Case-Shiller home price indexes, showed several months of prices increasing in Greater Boston.
Click here for the complete story.
June home prices were a strong 2.6 percent above the previous month, and the number of single-family homes that sold statewide in July was a whopping 12 percent higher than a year ago. While these data come from different sources, and measure different components of the real estate market, they point to a market that is heading upward.
Housing industry specialist Karl E. Case, a professor of economics at Wellesley College, said the Boston market is “bottoming out.’’ He noted that the housing index he cofounded, the S&P/Case-Shiller home price indexes, showed several months of prices increasing in Greater Boston.
Click here for the complete story.
Post Market Summary: Wall Street Rallies On Positive Data, Bank Of America (NYSE: BAC) Surges
(By Salman - iStockAnalyst Writer)
US stocks finished with gains on Tuesday after better-than-expected consumer confidence and housing data boosted investor sentiment. Stocks also rose on reports that President Obama is nominating Federal Reserve chief Ben Bernanke for a second term in office.
The Dow Jones Industrial Average jumped 30.01 points or 0.32% to finish at 9,539.29. The S&P 500 gained 2.43 points or 0.24% to end at 1,028. The Nasdaq Composite climbed 6.25 points or 0.31% to 2,024.23.
The Conference Board said on Tuesday that its consumer confidence index jumped to 54.1 in August from an upwardly-revised 47.4 in July. Economists were expecting the index to rise to 48.
Click here for the complete story.
Shared via AddThis
US stocks finished with gains on Tuesday after better-than-expected consumer confidence and housing data boosted investor sentiment. Stocks also rose on reports that President Obama is nominating Federal Reserve chief Ben Bernanke for a second term in office.
The Dow Jones Industrial Average jumped 30.01 points or 0.32% to finish at 9,539.29. The S&P 500 gained 2.43 points or 0.24% to end at 1,028. The Nasdaq Composite climbed 6.25 points or 0.31% to 2,024.23.
The Conference Board said on Tuesday that its consumer confidence index jumped to 54.1 in August from an upwardly-revised 47.4 in July. Economists were expecting the index to rise to 48.
Click here for the complete story.
Shared via AddThis
Tuesday, August 25, 2009
Mass. housing market shows signs of perking up - Daily Business Update - The Boston Globe
By Chris Reidy, Globe Staff
The number of Massachusetts homes sold last month jumped nearly 12 percent from July 2008, and the decline in prices moderated, the Warren Group reported today.
Low interest rates, reduced prices, the first-time homebuyer tax credit, and improved consumer confidence contributed to last month's results, said the Warren Group, the Boston firm that tracks local real estate data and publishes Banker & Tradesman.
"This is a much-needed boost for the state's housing market," Warren Group chief executive Timothy M. Warren Jr. said in a statement. "We haven't had a double-digit gain in monthly home sales since last October. And the declines in home prices have been getting smaller every month."
Click here for complete story.
Shared via AddThis
The number of Massachusetts homes sold last month jumped nearly 12 percent from July 2008, and the decline in prices moderated, the Warren Group reported today.
Low interest rates, reduced prices, the first-time homebuyer tax credit, and improved consumer confidence contributed to last month's results, said the Warren Group, the Boston firm that tracks local real estate data and publishes Banker & Tradesman.
"This is a much-needed boost for the state's housing market," Warren Group chief executive Timothy M. Warren Jr. said in a statement. "We haven't had a double-digit gain in monthly home sales since last October. And the declines in home prices have been getting smaller every month."
Click here for complete story.
Shared via AddThis
Home price report: Case-Shiller shows increase of 2.9% - Aug. 25, 2009
NEW YORK (CNNMoney.com) -- National home prices may be on the road to recovery.
After three years of declines, home prices increased 2.9% in the three months ended June 30, according to the latest S&P/Case-Shiller report. That is the first quarter-over-quarter improvement in three years.
Prices in the national index are down 14.9% compared with the second quarter of 2008, the report said. But that is better than the record 19.1% decline that was set in the first three months of 2009.
Click here for complete story.
Shared via AddThis
After three years of declines, home prices increased 2.9% in the three months ended June 30, according to the latest S&P/Case-Shiller report. That is the first quarter-over-quarter improvement in three years.
Prices in the national index are down 14.9% compared with the second quarter of 2008, the report said. But that is better than the record 19.1% decline that was set in the first three months of 2009.
Click here for complete story.
Shared via AddThis
US stocks rise on Bernanke nomination | The Daily Telegraph
US stocks climbed overnight as investors appeared to welcome President Barack Obama's widely expected nomination of Federal Reserve chairman Ben Bernanke for a second term.
Click here for complete story.
Shared via AddThis
Click here for complete story.
Shared via AddThis
Monday, August 24, 2009
Sunday, August 23, 2009
Saturday, August 22, 2009
Friday, August 21, 2009
Monthly Home Sale of Existing Homes Grows at Record Pace
Per National Association of Realtors (Aug 21, 2009)
Monthly Home Sale of Existing Homes
A year ago
July 2008 US 504000 ($253k Av) NORTHEAST 101000 ($307k Av)
A month ago
June 2009 US 521000 ($227k Av) NORTHEAST 90000 ($285k Av)
July 2009 US 532000 ($237k Av) NORTHEAST 105000 ($290k Av)
Per National Association of Realtors
Monthly Home Sale of Existing Homes
A year ago
July 2008 US 504000 ($253k Av) NORTHEAST 101000 ($307k Av)
A month ago
June 2009 US 521000 ($227k Av) NORTHEAST 90000 ($285k Av)
July 2009 US 532000 ($237k Av) NORTHEAST 105000 ($290k Av)
Per National Association of Realtors
Wednesday, August 19, 2009
Pending home sales are up for the fifth consecutive month
Aug 04, 2009 press release by national association of realtors.
Walter Molony
Uptrend Continues in Pending Home Sales
Washington, August 04, 2009
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
Click here for complete story.
Walter Molony
Uptrend Continues in Pending Home Sales
Washington, August 04, 2009
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
Click here for complete story.
Lakshman Achuthan predicts end of recession
Lakshman Achuthan and Harm Bandholz say the recession will probably end soon
Posted by Justin Fox Friday, April 24, 2009 at 11:20 am in http://curiouscapitalist.blogs.time.com
Two of my favorite somewhat-off-the-beaten-track economic forecasters just came out with strikingly optimistic pronouncements this morning. How optimistic? The recession-should-end-in-a-couple-of-months optimistic.
Click to read complete story.
Posted by Justin Fox Friday, April 24, 2009 at 11:20 am in http://curiouscapitalist.blogs.time.com
Two of my favorite somewhat-off-the-beaten-track economic forecasters just came out with strikingly optimistic pronouncements this morning. How optimistic? The recession-should-end-in-a-couple-of-months optimistic.
Click to read complete story.
Friday, May 8, 2009
U.S. retailers confident after bright April sales
NEW YORK (Reuters) - U.S. retailers posted better- than-expected monthly sales results for a second straight month in April, giving fresh evidence that consumer spending is warming up with the spring weather ...
Click here to read the whole story.
Click here to read the whole story.
U.S. sheds fewest jobs in 6 months
WASHINGTON (Reuters) - U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline may be easing ...
Click here to read the whole story.
Click here to read the whole story.
Monday, May 4, 2009
Pending home sales jump 3.2%
Yo! That's what I'm talking about!
Check this out, "Buyers defy expectations with an increase in sales contracts signed during March".
+++|+++|+++|+++|+++|+++
Pending home sales jump 3.2%
Buyers defy expectations with an increase in sales contracts signed during March.
NEW YORK (CNNMoney.com) -- Is the housing meltdown ending?
Pending home sales rose in March for the second consecutive month and are up year over year. The Pending Home Sales Index from the National Association of Realtors showed a 3.2% gain to 84.6 from February, when it was 82. The index stands 1.6% higher than a year ago.
Click here for the rest of the article.
Check this out, "Buyers defy expectations with an increase in sales contracts signed during March".
+++|+++|+++|+++|+++|+++
Pending home sales jump 3.2%
Buyers defy expectations with an increase in sales contracts signed during March.
NEW YORK (CNNMoney.com) -- Is the housing meltdown ending?
Pending home sales rose in March for the second consecutive month and are up year over year. The Pending Home Sales Index from the National Association of Realtors showed a 3.2% gain to 84.6 from February, when it was 82. The index stands 1.6% higher than a year ago.
Click here for the rest of the article.
Friday, April 10, 2009
U.S. Stocks Gain, Capping Biggest Jump Since 1933 as Banks Rise
By Eric Martin and Lynn Thomasson
April 10 (Bloomberg) -- U.S. stocks rose for a fifth week, capping the steepest rally since 1933, as Wells Fargo & Co.’s higher-than-estimated earnings and speculation banks will pass government stress tests spurred optimism that the industry’s slump is ending.
Bank of America Corp., American Express Co. and JPMorgan Chase & Co. helped drive a gauge of 80 financial companies in the Standard & Poor’s 500 Index to a 9.4 percent advance. Wells Fargo surged 20 percent after reporting record first-quarter profit. Lincoln National Corp. and Principal Financial Group Inc. jumped at least 37 percent as the Treasury considered bailouts for life insurers.
... read the complete article at http://www.bloomberg.com/apps/news?pid=20601087&sid=a9bx2uPiMUgw&refer=home
April 10 (Bloomberg) -- U.S. stocks rose for a fifth week, capping the steepest rally since 1933, as Wells Fargo & Co.’s higher-than-estimated earnings and speculation banks will pass government stress tests spurred optimism that the industry’s slump is ending.
Bank of America Corp., American Express Co. and JPMorgan Chase & Co. helped drive a gauge of 80 financial companies in the Standard & Poor’s 500 Index to a 9.4 percent advance. Wells Fargo surged 20 percent after reporting record first-quarter profit. Lincoln National Corp. and Principal Financial Group Inc. jumped at least 37 percent as the Treasury considered bailouts for life insurers.
... read the complete article at http://www.bloomberg.com/apps/news?pid=20601087&sid=a9bx2uPiMUgw&refer=home
Wednesday, April 1, 2009
For Wall Street, March is best month since 2002
By Edward Krudy
NEW YORK (Reuters) - Stocks climbed on Tuesday, driving the S&P 500 to its best month since October 2002, as investors snapped up top-performing bank and technology shares as the first quarter came to an end.
Upbeat news from Europe set the tone for financials, helping them recover much of Monday's losses and continue a recent robust rally after British bank Barclays (BARC.L) declined to take part in a government asset-protection plan.
Technology shares added to a strong three-week rally after brokerage Davenport recommended investors buy Microsoft Corp (MSFT.O), pointing to increased demand for personal computers in China and the United States, and potential restocking of inventories in Europe.
... Read Complete Story at http://www.reuters.com/article/businessNews/idUSTRE52T35C20090331?feedType=RSS&feedName=businessNews
NEW YORK (Reuters) - Stocks climbed on Tuesday, driving the S&P 500 to its best month since October 2002, as investors snapped up top-performing bank and technology shares as the first quarter came to an end.
Upbeat news from Europe set the tone for financials, helping them recover much of Monday's losses and continue a recent robust rally after British bank Barclays (BARC.L) declined to take part in a government asset-protection plan.
Technology shares added to a strong three-week rally after brokerage Davenport recommended investors buy Microsoft Corp (MSFT.O), pointing to increased demand for personal computers in China and the United States, and potential restocking of inventories in Europe.
... Read Complete Story at http://www.reuters.com/article/businessNews/idUSTRE52T35C20090331?feedType=RSS&feedName=businessNews
Friday, March 27, 2009
Americans spending more: Government report shows spending by individuals rises for the second month in a row even as incomes fall.
By Ben Rooney, CNNMoney.com staff writer
Last Updated: March 27, 2009: 10:00 AM ET
NEW YORK (CNNMoney.com) -- Consumer spending rose in February, rebounding for the second month in row after falling for 6 straight months, according to government figures released Friday.
The Commerce Department said spending by individuals rose 0.2%, after increasing a revised 1.0% in January. February's results were in line with a forecast from Economists surveyed by Briefing.com.
After adjusting for inflation, however, real personal spending declined 0.2%. In January, it rose 0.7%.
... Continue reading at http://money.cnn.com/2009/03/27/news/economy/personal_spending_income/index.htm
Last Updated: March 27, 2009: 10:00 AM ET
NEW YORK (CNNMoney.com) -- Consumer spending rose in February, rebounding for the second month in row after falling for 6 straight months, according to government figures released Friday.
The Commerce Department said spending by individuals rose 0.2%, after increasing a revised 1.0% in January. February's results were in line with a forecast from Economists surveyed by Briefing.com.
After adjusting for inflation, however, real personal spending declined 0.2%. In January, it rose 0.7%.
... Continue reading at http://money.cnn.com/2009/03/27/news/economy/personal_spending_income/index.htm
Tuesday, March 24, 2009
Monday, March 23, 2009
EXCHANGE TRADED
BY TRANG HO
INVESTOR'S BUSINESS DAILY
Posted 3/23/2009
News of the Treasury Department's plan to clear bad assets off the books, along with a rise in home sales, jolted the market to its highest level in five weeks.
SPDR KBW Bank (KBE), Regional Bank HOLDRs (RKH), Financial Select Sector SPDR (XLF), iShares Dow Jones US Financial Sector (IYF) and other financial ETFs led the S&P 500's massive 7% surge after a two-day pause. The ETFs each rallied 14% to an eye-popping 19%.
Although volume rose more than average, it was lower than in the rally's first week, which started March 9. All three ETFs cleared their 10-week moving averages but face resistance at their February peaks.
... Read rest of the story at http://www.investors.com/editorial/IBDArticles.asp?artsec=28&issue=20090323
INVESTOR'S BUSINESS DAILY
Posted 3/23/2009
News of the Treasury Department's plan to clear bad assets off the books, along with a rise in home sales, jolted the market to its highest level in five weeks.
SPDR KBW Bank (KBE), Regional Bank HOLDRs (RKH), Financial Select Sector SPDR (XLF), iShares Dow Jones US Financial Sector (IYF) and other financial ETFs led the S&P 500's massive 7% surge after a two-day pause. The ETFs each rallied 14% to an eye-popping 19%.
Although volume rose more than average, it was lower than in the rally's first week, which started March 9. All three ETFs cleared their 10-week moving averages but face resistance at their February peaks.
... Read rest of the story at http://www.investors.com/editorial/IBDArticles.asp?artsec=28&issue=20090323
Thursday, March 19, 2009
As funny as the times allow
Michael Schulder
CNN Senior Executive Producer
Tonight, Barack Obama will appear on The Tonight Show with Jay Leno. Will President Obama be funny? “As funny as the times allow,” said a White House official. How funny do these times allow one to be? We asked a similar question after 9/11. When can we laugh again? Following are some answers from Aristotle to Ackerman.
You can’t get funnier, given the times, than New York Congressman Gary Ackerman. Read what he said yesterday at the congressional hearings on the insurance giant AIG. He’s hilarious about the investment device that helped bring AIG and so much of the world economy to its knees — the credit default swap, based on collateral from subprime mortgages, which was pitched as a form of insurance.
... click the following link for the rest of the story.
CNN Senior Executive Producer
Tonight, Barack Obama will appear on The Tonight Show with Jay Leno. Will President Obama be funny? “As funny as the times allow,” said a White House official. How funny do these times allow one to be? We asked a similar question after 9/11. When can we laugh again? Following are some answers from Aristotle to Ackerman.
You can’t get funnier, given the times, than New York Congressman Gary Ackerman. Read what he said yesterday at the congressional hearings on the insurance giant AIG. He’s hilarious about the investment device that helped bring AIG and so much of the world economy to its knees — the credit default swap, based on collateral from subprime mortgages, which was pitched as a form of insurance.
... click the following link for the rest of the story.
Wednesday, March 18, 2009
U.S. Economy: U.S. Consumer Prices Increase More Than Forecast
By Bob Willis and Timothy R. Homan
March 18 (Bloomberg) -- The cost of living in the U.S. increased more than forecast in February, reducing concern of a deflationary spiral that might push the nation toward a depression.
The consumer price index climbed 0.4 percent after a 0.3 percent rise in January, the Labor Department said today in Washington. Excluding food and fuel, the so-called core rate advanced 0.2 percent. The gains pushed the annual core inflation rate up to 1.8 percent, within the range that most Federal Reserve officials, meeting today, say is their objective.
Today’s figures reduce the odds of a prolonged price slide that has stirred concern among officials including St. Louis Fed President James Bullard. At the same time, inflation will probably stay subdued, analysts said; last month’s rise was spurred in part by car and clothing gains that may slow as consumers restrain spending.
“It brings some relief to the Fed, they are exactly in the middle of their comfort zone,” said Harm Bandholz, a U.S. economist at UniCredit Group in New York, who correctly forecast the rise in the core rate.
... keep reading the rest of the article at http://www.bloomberg.com/apps/news?pid=20601087&sid=a96UYa3hNIh0&refer=home
March 18 (Bloomberg) -- The cost of living in the U.S. increased more than forecast in February, reducing concern of a deflationary spiral that might push the nation toward a depression.
The consumer price index climbed 0.4 percent after a 0.3 percent rise in January, the Labor Department said today in Washington. Excluding food and fuel, the so-called core rate advanced 0.2 percent. The gains pushed the annual core inflation rate up to 1.8 percent, within the range that most Federal Reserve officials, meeting today, say is their objective.
Today’s figures reduce the odds of a prolonged price slide that has stirred concern among officials including St. Louis Fed President James Bullard. At the same time, inflation will probably stay subdued, analysts said; last month’s rise was spurred in part by car and clothing gains that may slow as consumers restrain spending.
“It brings some relief to the Fed, they are exactly in the middle of their comfort zone,” said Harm Bandholz, a U.S. economist at UniCredit Group in New York, who correctly forecast the rise in the core rate.
... keep reading the rest of the article at http://www.bloomberg.com/apps/news?pid=20601087&sid=a96UYa3hNIh0&refer=home
Tuesday, March 17, 2009
Monday, March 16, 2009
Depression Fears Subside on Bernanke Remarks, Rally in Stocks
By Christopher Anstey and Scott Lanman
March 16 (Bloomberg) -- The longest winning streak in U.S. stocks since November and reassuring comments from Federal Reserve Chairman Ben S. Bernanke are soothing concern that the U.S. is headed for its first depression in seven decades.
“The financial meltdown and accompanying depression scenario has been taken off the table,” said Jack Ablin, chief investment officer at Chicago-based Harris Private Bank, which oversees $60 billion. “The heart of the problem is the banking system, and news coming out of that sector suggests that we may have turned a corner.”
Banks from Citigroup Inc. and Bank of America Corp. to Barclays Plc indicated in the past week that earnings have been rising since the start of the year, and government data showed U.S. retail sales may be stabilizing after a six-month rout. With officials working on details of their bank-rescue plan, Bernanke said in an interview with CBS television’s 60 Minutes that the main risk is a shortage of political will to complete the task.
... continue reading at http://www.bloomberg.com/apps/news?pid=20601087&sid=a_MU7GJ2KRpM&refer=home
March 16 (Bloomberg) -- The longest winning streak in U.S. stocks since November and reassuring comments from Federal Reserve Chairman Ben S. Bernanke are soothing concern that the U.S. is headed for its first depression in seven decades.
“The financial meltdown and accompanying depression scenario has been taken off the table,” said Jack Ablin, chief investment officer at Chicago-based Harris Private Bank, which oversees $60 billion. “The heart of the problem is the banking system, and news coming out of that sector suggests that we may have turned a corner.”
Banks from Citigroup Inc. and Bank of America Corp. to Barclays Plc indicated in the past week that earnings have been rising since the start of the year, and government data showed U.S. retail sales may be stabilizing after a six-month rout. With officials working on details of their bank-rescue plan, Bernanke said in an interview with CBS television’s 60 Minutes that the main risk is a shortage of political will to complete the task.
... continue reading at http://www.bloomberg.com/apps/news?pid=20601087&sid=a_MU7GJ2KRpM&refer=home
Thursday, March 12, 2009
Dear all:
As you may (or may not) know, I have a keen interest in satire. One of the ezines that I draw my inspiration from is ONION, which is a student run ezine from University of ***, ***. Below is the one article from the current issue. The humor may or may not be appealing depending on your taste, but I just thought with so many glum news around us, maybe this will give us a moment of levity!
http://www.theonion.com/content/news/obama_outfitted_with_238_motion
... SB
Wednesday, March 11, 2009
Jamie Dimon Speech
Here is an honest wall street executive who has the guts to speak the truth and look at the meltdown in a balanced manner and then has the leadership to suggest how to get out of the issue. ... AM
Tuesday, March 10, 2009
Uptick rule eyed, Fed chief backs accounting tweak
By Rachelle Younglai and Jeremy Pelofsky
March 10, 2009
WASHINGTON (Reuters) - U.S. Regulators will consider reviving the "uptick" restriction on short-sellers of stocks and a top monetary official lent his support on Tuesday to modifying an accounting rule that has forced banks to take billions of dollars in writedowns.
...
The uptick rule, adopted after the 1929 stock market crash, allowed short sales only when the last sale price was higher than the previous price. The SEC abolished the rule in 2007, after concluding that advances in trading strategies rendered it ineffective.
...
see http://www.boston.com/business/articles/2009/03/10/uptick_rule_may_return_mark_to_market_changes_seen/ for full story.
March 10, 2009
WASHINGTON (Reuters) - U.S. Regulators will consider reviving the "uptick" restriction on short-sellers of stocks and a top monetary official lent his support on Tuesday to modifying an accounting rule that has forced banks to take billions of dollars in writedowns.
...
The uptick rule, adopted after the 1929 stock market crash, allowed short sales only when the last sale price was higher than the previous price. The SEC abolished the rule in 2007, after concluding that advances in trading strategies rendered it ineffective.
...
see http://www.boston.com/business/articles/2009/03/10/uptick_rule_may_return_mark_to_market_changes_seen/ for full story.
The Best Advice
Nicholas Negroponte, founder and chairman of One Laptop per Child, says that this advice has driven his whole life and career. Optimism in an uncertain world. Fortune, Dec 5, 2008.
Real Story of Housing Market
With all media outlets spitting out horror stories of crashing economy and crumbling real-estate market, lets cut through the chase and find out the real statistics of housing market. Once you get the real statistics you can decide for yourself where do we find ourselves.
In telling a story, what is being said is as important as who is telling the story and how. In the end it comes down to the classic case of whether the glass is half-empty or whether it is half-full. The way you perceive is dependent upon your own personality, which, often, gets influenced and shrouded by the media.For the real statistics on housing market, I would like to take you to the website of the National Association of Realtors at http://www.realtor.org/.Once there, click the 'research' link on the left hand side. A new menu shows up with white background under 'research'. Click 'Housing Statistics' and then 'Existing-Home Sales' and then 'Existing-Home Sales Overview Chart for Printing (PDF:17KB)'.
Or, if you want to avoid steps above simply click Existing Home Sales Statistice.
This is the real statistics. Compared to 278,000 houses sold in the US in Jan of 08, 257,000 houses are sold in the US in Jan of 09. Yes the market is bad. But not as bad. Is it?
This website is full of good information. Absorb as much as you can and decide of yourself.I personally would like you to believe that the glass is half full and not half empty.
Cheers everyone. Chin up.
In telling a story, what is being said is as important as who is telling the story and how. In the end it comes down to the classic case of whether the glass is half-empty or whether it is half-full. The way you perceive is dependent upon your own personality, which, often, gets influenced and shrouded by the media.For the real statistics on housing market, I would like to take you to the website of the National Association of Realtors at http://www.realtor.org/.Once there, click the 'research' link on the left hand side. A new menu shows up with white background under 'research'. Click 'Housing Statistics' and then 'Existing-Home Sales' and then 'Existing-Home Sales Overview Chart for Printing (PDF:17KB)'.
Or, if you want to avoid steps above simply click Existing Home Sales Statistice.
This is the real statistics. Compared to 278,000 houses sold in the US in Jan of 08, 257,000 houses are sold in the US in Jan of 09. Yes the market is bad. But not as bad. Is it?
This website is full of good information. Absorb as much as you can and decide of yourself.I personally would like you to believe that the glass is half full and not half empty.
Cheers everyone. Chin up.
Monday, March 9, 2009
Subscribe to:
Posts (Atom)
Posts
