RSSCategory: Economic Updates

Jul

16

Economic Update for July 16, 2012

CONSUMER SENTIMENT CONTINUES TO SLIP Analysts polled by Reuters had expected the University of Michigan’s initial July consumer sentiment index to show a minor gain. That didn’t happen: instead of the projected 0.2% rise to 73.4, the index fell 1.2% to 72.0, a low unseen since December. An exclamation point within the data: just 19% […]

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Jul

9

Economic Update for July 9, 2012

WEAK JOB MARKET PERSISTS IN JUNE America’s unemployment rate remained at 8.2% in June with non-farm payrolls expanding by just 80,000 positions. The underemployment rate rose to 14.9%. The Labor Department report offered a troubling big-picture detail: our economy has generated fewer than 100,000 new jobs for four straight months, in what seems like a […]

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Jul

2

Economic Update for July 2, 2012

MARKETS RALLY ON BOLD EU PROPOSAL Last week, European leaders crafted a new plan to help the continent’s beleaguered banks: eurozone rescue funds would be used to directly recapitalize troubled lenders, without contributing to existing sovereign debt. A single supervisory body would also be created to serve as a banking watchdog. Key details need to […]

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Jun

25

Economic Update for June 25, 2012

WALL STREET FINDS THE POSITIVE IN THE NEGATIVE Moody’s Investors Service downgraded 15 major banks late last week, yet financial stocks rallied Friday – Wall Street was bracing for deeper cuts. Investors also liked a new accord in Europe – Germany joined France, Italy and Spain in support of a €130 billion stimulus plan to […]

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Jun

18

Economic Update for June 18, 2012

IF GREECE EXITS THE EURO, WHAT COMES NEXT? Best-case scenarios for Greece seemed to fade as the weekend neared. Concerns mounted that Sunday’s special elections would either bring another parliamentary deadlock or a victory for parties opposing scheduled austerity cuts. Some economists maintained that a Greek exit from the euro would not be abrupt and […]

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Jun

11

Economic Update for June 11, 2012

IS A FIX COMING FOR EUROPE’S DEBT CRISIS? Last week, global markets rallied on European Central Bank President Mario Draghi’s assertion that risks to the EU economy had increased, interpreting it as a signal that the ECB and other central banks might take swift action to rescue weaker eurozone nations. (Stateside, Federal Reserve Chairman Ben […]

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Jun

4

Economic Update for June 4, 2012

IS IT TIME FOR QE3? May’s unemployment report threw Wall Street for a loop Friday. Economists polled by Reuters forecast a payroll gain of 150,000, but only 69,000 new jobs were created. Even worse, part-time positions accounted for all of the increase. The jobless rate ticked up to 8.2% in May, and the Labor Department […]

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May

29

Economic Update for May 28, 2012

CONSUMER CONFIDENCE HIGHEST SINCE 2007 In a tense week for investors, some promising news emerged: the closely watched Thomson Reuters/University of Michigan consumer sentiment index came in with a final reading of 79.3 for May – the ninth straight monthly improvement. May’s 3.8% gain brought the index to a peak unseen since October 2007. The […]

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May

21

Economic Update for May 21, 2012

FACEBOOK DEBUT DIVERTS ATTENTION FROM EUROPE Facebook’s IPO set a new record for a stock debut Friday – volume surpassed 578 million shares. The gain was small: shares closed at $38.23 at the end of regular trading, up 0.61% from the initial $38 offering price. Meanwhile, the S&P 500 ended the trading week below 1,300, […]

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May

14

Economic Update for May 14, 2012

CONSUMER SENTIMENT HITS A 4-YEAR PEAK May’s initial Thomson Reuters/University of Michigan consumer sentiment survey came in with an index reading of 77.8, the highest mark since January 2008. The current economic conditions sub-index rose to 87.3 from last month’s final 82.9 reading. Descending oil and gas prices may have been factors promoting some optimism.1 […]

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