December 6, 2012 |
NEW YORK - Stocks closed higher Wednesday, their first gain of the week, as bank shares rose and comments from President Obama made investors optimistic that a quick deal could be made to avoid the fiscal cliff. The Dow Jones industrial average rose 82.71 points to end at 13,034.49. It had been up as much as 137. The Standard & Poor's 500 closed up 2.23 points at 1,409.28. The Nasdaq composite was down 22.99 points to 2,973.70, held back by a slump in Apple. Citigroup jumped $2.17, or 6.3 percent, to $36.46 after the bank said it planned to eliminate more than 11,000 jobs, about 4 percent of its workforce, to cut expenses and improve efficiency.
August 31, 2011 |
NEW YORK - The stock market is having a strong end to a wild month. The Dow Jones industrial average turned positive for the year Wednesday after a surge in factory orders reassured investors that the manufacturing industry is still healthy. Industrial and raw materials companies had the biggest gains. Factory orders rose 2.4 percent in July, the largest increase since March. Demand for cars jumped the most in eight years, and orders for commercial airplanes soared. Orders fell 0.8 percent in June.
April 1, 2011 |
NEW YORK - The Dow Jones industrial average closed its best start to the year since 1999 Thursday, rising 6.4 percent in the first three months. The index of 30 large companies gained 742 points in that stretch. Measured against other first quarters, that is the largest point gain since 1998 and the second best on record. Stocks ended the day mixed as the price of oil jumped to a 30-month high. Slightly disappointing reports on unemployment claims and factory orders also weighed on the market.
October 19, 2008 |
Both presidential candidates have been criticized for failing to name any promises or plans they're going to have to scrap because of the bailout and the failing economy. That criticism is unwarranted. The assumption that we are about to have a rerun of 1993 - when Bill Clinton, newly installed as president, was forced to jettison much of his agenda because of a surging budget deficit - may well be mistaken. At first glance, January 2009 is starting to look a lot like January 1993.
July 2, 2008 |
WASHINGTON - Orders to U.S. factories turned in the weakest performance in three months in May, reflecting slumping demand for autos, heavy machinery and steel. The Commerce Department reported today that factory orders rose by 0.6 percent in May, less than half the gains turned in during April and March. It was the poorest showing since factory orders had fallen by 0.4 percent in February. The May performance was in line with expectations. Economists are watching to see how big an impact the overall economic slowdown will have on manufacturing, which has been hurt by troubles in the auto industry and housing-related industries.
December 24, 2004 |
Yesterday's economic news was both busy and contradictory. Reports showed that consumers' spending was disappointing in November, but their confidence was rising - and housing sales plummeted, but factory orders soared. Finally, new claims for unemployment benefits rose by slightly more than expected. The day's batch of economic reports, though sending mixed signals, painted a picture of a modestly growing economy, analysts said. "Tie a bow around it - I'll take it home," said Ken Mayland, president of ClearView Economics, in Pepper Pike, Ohio.
July 4, 2002 |
The vast U.S. service sector grew for a fifth straight month in June, but at a slower pace, while May factory orders rose more than expected, two reports showed yesterday, suggesting it may take longer for the economy to fire on all cylinders. That was underscored by a mixed picture for the labor market, following news that service-sector layoffs accelerated in June even as new jobless claims hit a 15-month low in the latest week. That raised concerns that the June employment report, expected tomorrow, could show weaker payroll growth than many have expected.
February 28, 2001 |
Plunges in three indicators suggested yesterday that the U.S. economy has slowed more sharply than expected and could tumble into a prolonged downturn, but most analysts remained cautiously optimistic that it would bounce back by summer. Big declines were recorded in consumer confidence, factory orders, and new-home sales. Also, a government report due today is expected to show a dramatic slowing of the economy in the last three months of 2000, according to advance estimates by economists.
July 29, 1999 |
REAL ESTATE German investor set to buy One Liberty A German investor plans to buy One Liberty Place, the city's tallest and one of its most distinctive buildings. The purchase price of $250 million in cash reportedly negotiated by Sunbelt Management of Palm Beach Gardens, Fla., for the 61-story skyscraper and adjoining Shops at Liberty Place shopping mall and hotel complex is substantially less than the $600 million construction price. The depressed value has been caused by the tower's long-term leaseholders, who signed when the renter's market was cheaper, according to one analyst.