July 2, 2014 |
More Americans will travel this Fourth of July for fireworks, barbecues, and the beach visits, despite the highest gasoline prices for Independence Day since 2008. Automobile travel is projected to be at its highest level in years, with more than eight in 10 travelers celebrating the three-day weekend with a road trip, said AAA, the nation's largest automobile club. Forty-one million Americans will journey 50 miles or more from home, a 1.9 percent increase over 2013. The majority, or 34.8 million, plan to drive.
December 12, 2013 |
Fourth-quarter earnings for Toll Bros. declined 77 percent from the same period a year ago, the Horsham-based luxury-home builder said Tuesday. Toll said it earned $94.9 million, or 54 cents a share, in the quarter ended Oct. 31, compared with a profit of $411.4 million, or $2.35 a share, a year earlier. Deferred tax-asset valuation allowance reversals fell to $4.6 million last quarter, compared with $394.7 million the year before, the builder said. Pretax income for the quarter was higher than the same period in 2012, Toll said, as sales, revenues, and average prices climbed above those previous-year figures.
August 25, 2013 |
Every time someone blames rising interest rates for tamping down home sales in a particular month, I find myself quoting Prudential Fox & Roach vice president Joanne Davidow: "I sold more houses when rates were at 8 percent than at 6 percent," she told me many years ago, "and the difference was consumer confidence. " Real estate is a roller-coaster ride. It offers no guarantees. Sales numbers are never the same every month, and neither are prices. They go up, they go down, often inexplicably, even though the experts still manage to come up with reasons.
July 4, 2013
The Style+Soul section, which usually appears on Wednesday, will be published Thursday with special Fourth of July fashion coverage: Consumer confidence is up, and red-white-and-blue has never been more stylish.
May 30, 2013 |
The stock market is considered a leading economic indicator, and, boy, has it been leading all year long. The Standard & Poor's 500 index, which is often used as a proxy for the U.S. equity market, is up 16 percent since Dec. 31. Investors on Tuesday seemed to shake off last week's wariness over just when Federal Reserve Chairman Ben Bernanke will pull back on the central bank's monetary stimulus - wariness that contributed to the...
May 30, 2013 |
WASHINGTON - Home prices are surging, job growth is strengthening, and stocks are setting record highs. All of which explains why Americans are more hopeful about the economy than at any point in five years. Investors on Tuesday celebrated the latest buoyant reports on consumer confidence and housing prices, which together suggest that growth could accelerate in the second half of 2013. Greater confidence could spur people to spend more and help offset tax increases and federal spending cuts.
May 30, 2013 |
NEW YORK - A rally that brought the stock market to record highs this year came back to life after consumer confidence reached a five-year high and U.S. home prices rose the most in seven years. As stock prices rose, investors sold bonds, sending interest rates higher. The Dow Jones industrial average rose 106 points to close at another record Tuesday, bouncing back from a loss the week before. The Standard & Poor's 500 index also gained. The S&P is on track for its seventh straight monthly increase, the longest winning streak since 2009.
March 8, 2013 |
WASHINGTON - Strong auto sales, better hiring, and a continued housing recovery helped the economy grow in January and February throughout the country, according to a survey released Wednesday by the Federal Reserve. The Fed said 10 of its 12 banking districts reported moderate or, as in Philadelphia, modest growth, while Boston and Chicago reported slow growth. Consumer spending increased in most regions, although spending growth slowed in many districts and much of the gain was driven by auto sales.
February 28, 2013 |
NEW YORK - A jump in home sales and strong earnings from Home Depot helped the Dow claw back Tuesday more than half its losses from Monday. Improving consumer confidence also brought buyers back to the market. The Dow Jones industrial average closed up 115.96 points, or 0.8 percent, to 13,900.13. The Dow fell 216 points the day before, its biggest drop in three months, on concern that Europe's debt crisis might flare again. The index has moved 100 points or more on four of the last five trading days.
January 31, 2013 |
U.S. consumer confidence plunged in January to its lowest level in more than a year, reflecting higher Social Security taxes that have left Americans with less take-home pay. The Conference Board said Tuesday that its Consumer Confidence Index dropped 8.1 points in January from December to a reading of 58.6, the lowest since November 2011. The index has declined for three straight months since hitting a nearly five-year high of 73.1 in October. It's still above the post-recession low of 40.9 reached in October 2011.