Economy News
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Analysis: Stockton, California new paradigm for struggling cities
NEW YORK - Stockton, California, the largest city in the United States to ever file for bankruptcy, could create a new template for struggling cities and potentially lift the stigma that scars municipalities if they seek court protection from creditors.
Consumer spending stalls, morale at 6-month low
WASHINGTON - Consumer spending growth ground to a halt in May as auto purchases flagged, while confidence ebbed to a six-month low in June, the latest signs of trouble for the economy.
Congress poised to wrap up transport, loans, flood bill
WASHINGTON - A bipartisan bill to fund a massive job-creating transportation bill, retain low interest rates for millions of student loans, and maintain national flood insurance won approval on Friday in the U.S. House of Representatives.
Fed officials eye darker U.S. growth, jobs picture
NEW YORK/LITTLE ROCK, Arkansas - Federal Reserve officials on Friday said they were keeping an eye out for any signs that slowing growth is raising deflation risks but differed on how worrisome sluggish job markets are for the modest U.S. economic recovery.
Fed official floats stress tests of money funds
AMSTERDAM - A top U.S. Federal Reserve official floated the idea on Friday of expanding bank "stress tests" to include the likely support those institutions would need to provide to sponsored money market mutual funds.
Larger U.S. corn sowings menaced by drought, USDA says
WASHINGTON - U.S. farmers planted slightly more corn and far more soybeans than they originally planned, the government said on Friday in a report that failed to ease concerns over a Midwest drought that has jeopardized a bumper harvest.
Little wetter for northwest Midwest next week
CHICAGO - Midday weather updates indicate a little more rain for next week in the northwest U.S. Midwest crop region than earlier outlooks indicated but forecasts for the following week were drier than previous forecasts, an agricultural meteorologist said on Friday.
Fed's Fisher: healthcare ruling removes some uncertainty: CNBC
CHICAGO - The Supreme Court's decision Thursday to uphold President Barack Obama's signature healthcare overhaul removes some of the cloud of uncertainty that has been keeping businesses from hiring, a top Federal Reserve official said.
Weak first quarter growth bodes ill for economic outlook
WASHINGTON - The U.S. economy grew only modestly in the first quarter, the government confirmed on Thursday in a report that underscored the economy's vulnerability as global growth slows.
Fed's Pianalto does not comment on policy, economy
- The head of the Federal Reserve Bank of Cleveland did not comment specifically on monetary policy or the U.S. economy on Thursday, according to remarks prepared for delivery.
Markets
- U.S.
- Europe
- Asia
- Sectors
| DOW | 12,880.09 |  +277.83 |
+2.20% |
| S&P 500 | 1,362.16 | +33.12 |
+2.49% |
| NASDAQ | 2,935.05 | +85.56 |
+3.00% |
| TR US Index | 123.19 | +3.03 |
+2.52% |
Sector Summary
| Energy | +2.69% |
| Basic Materials | +2.34% |
| Industrials | +2.31% |
| Cyclical Goods & Services | +1.43% |
| Non-Cyclical Goods & Services | +1.25% |
| Financials | +1.92% |
| Healthcare | +1.62% |
| Technology | +3.08% |
| Telecoms | +0.45% |
| Utilities | +0.50% |
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