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    U.S. Economy Headlines
    Wall Street gains amid financial worries (AP)

    Traders work the floor of the New York Stock Exchange Thursday, July 10, 2008  in New York. Stocks rebounded Thursday after discounters posted better-than-expected sales for June and Dow Chemical Co. announced an agreement to acquire rival Rohm and Haas Co. in a deal worth more than $15 billion.  (AP Photo/Frank Franklin II)AP - Wall Street stumbled through another volatile session but ended with a respectable gain Thursday after a multibillion dollar deal between Dow Chemical Co. and rival Rohm and Haas Co. helped offset concerns about the financial sector and energy costs.


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    Thu, 10 Jul 2008 22:28:39 GMT - Yahoo! News: Economy News
    Fed chief: Gov't needs more power when firms fail (AP)

    Federal Reserve Chairman Ben Bernanke speaks at the The Federal Deposit Insurance Corporation on July 8, 2008 in Arlington, Virginia. Bernanke urged Congress Thursday to require stricter regulation of Wall Street firms in the wake of the near-collapse of Bear Stearns earlier this year.(AFP/Getty Images/File/Mark Wilson)AP - The nation's top economic officials urged Congress on Thursday to give them new regulatory tools to better protect the country from economic and financial havoc if a major Wall Street firm were to fail.


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    Thu, 10 Jul 2008 22:29:44 GMT - Yahoo! News: Economy News
    Treasurys little changed as stocks finish higher (AP)
    AP - Treasury prices were little changed Thursday after spending the session responding to swings on the stock market. -- read full article
    Thu, 10 Jul 2008 21:55:15 GMT - Yahoo! News: Economy News
    Costco, BJ's benefit from gas and food sales (Reuters)
    Reuters - Costco Wholesale Corp and BJ's Wholesale Club Inc on Thursday reported strong June sales as gas prices and food sales boosted results at the warehouse club operators. -- read full article
    Thu, 10 Jul 2008 19:37:52 GMT - Yahoo! News: Economy News
    Retailers face challenging back-to-school season (AP)

    Shanlunda Rodgers, 10, shops for school supplies at a North Little Rock, Ark., Wal-Mart Store Inc., store Wednesday, July 9, 2008. Wal-Mart Stores says same-store sales in June beat expectations, helped by sales of groceries and a boost from tax-rebate checks. The company is raising its guidance based on the strong results.(AP Photo/Danny Johnston)AP - Consumers, armed with government rebate checks, still have eyes only for heavily discounted items and necessities, and the critical back-to-school season is looking like another difficult period for the nation's retailers.


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    Thu, 10 Jul 2008 20:08:52 GMT - Yahoo! News: Economy News
    Stocks rise on Dow Chemical deal, Bernanke (Reuters)

    Traders work on the floor of the New York Stock Exchange, July 8, 2008. (Brendan McDermid/Reuters)Reuters - Stocks rose on Thursday, helped by optimism about a major deal in the chemicals sector and after the Federal Reserve chairman said the central bank and the government are focused on stabilizing the financial system.


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    Thu, 10 Jul 2008 20:52:58 GMT - Yahoo! News: Economy News
    Investment firms don't draw emergency loans (AP)

    Federal Reserve Chairman Ben Bernanke delivers remarks at the FDIC Forum on Mortgage Lending for Low and Moderate Income Households, Tuesday, July 8, 2008, in Arlington, Va. (AP Photo/Luis M. Alvarez)AP - In a sign of some improvement in the credit crisis, Wall Street firms for the first time didn't borrow from the Federal Reserve's emergency lending program and commercial banks also scaled back.


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    Thu, 10 Jul 2008 21:45:54 GMT - Yahoo! News: Economy News
    Jobless claims dip but labor market still weak (AP)
    AP - Fewer people signed up for unemployment benefits last week, but the dip was not enough to overcome continuing weakness in the country's labor market. -- read full article
    Thu, 10 Jul 2008 21:46:28 GMT - Yahoo! News: Economy News
    Economy - Thursday (Investor's Business Daily)
    Investor's Business Daily - The Blue Chip Economic Indicators survey found that 55% of economists polled say the U.S. will enter into a recession this year or already has due to higher energy prices, a weakening labor market and falling stock prices. That's up from 47% in the prior month. Respondents raised their Q2 GDP growth estimates to 1.2% from 0.4% due to tax rebate checks. But the outlook has worsened. Rising inflation risks will spur the Fed to hike rates, perhaps this fall, the survey found. -- read full article
    Thu, 10 Jul 2008 22:37:50 GMT - Yahoo! News: Economy News
    Chevron sees downstream loss in second quarter (Reuters)
    Reuters - Chevron Corp expects its refining and marketing operations to post a loss in the second quarter, somewhat restraining earnings that will be mostly driven by record oil and natural gas prices, the second-largest U.S. oil company said on Thursday. -- read full article
    Thu, 10 Jul 2008 22:52:29 GMT - Yahoo! News: Economy News
    Toyota to build Prius in U.S. (Reuters)

    A Prius with the new Hybrid engine is seen at the fair stand of Japanese car manufacturer Toyota at the international car show IAA in Frankfurt September 11, 2007. REUTERS/Alex GrimmReuters - Toyota Motor Corp said on Thursday it would start building its Prius hybrid in the United States in 2010 and suspend production of slow-selling big trucks for three months in a sharp reversal of strategy forced by slumping sales and high gas prices.


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    Thu, 10 Jul 2008 23:09:58 GMT - Yahoo! News: Economy News
    Md. city with edgy racial past elects black mayor (AP)
    AP - This Chesapeake Bay city of idled crab processing plants and costly vacation homes has had a not-too-distant history of racial strife. But when Cambridge elected its first black mayor this week, residents said their worries about joblessness and the economy were foremost on their minds — not the race or gender of the winning candidate. -- read full article
    Fri, 11 Jul 2008 07:59:49 GMT - Yahoo! News: Economy News
    Dollar rises before Bernanke testimony (AFP)

    A woman holds handfuls of euro and US dollar banknotes. The dollar has climbed against leading currencies amid investor caution after a Wall Street slump and ahead of congressional testimony by Federal Reserve chairman Ben Bernanke, dealers said.(AFP/File/Bertrand Langlois)AFP - The dollar climbed against leading currencies on Thursday amid investor caution after a Wall Street slump and ahead of congressional testimony by Federal Reserve chairman Ben Bernanke, dealers said.


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    Thu, 10 Jul 2008 11:02:54 GMT - Yahoo! News: Economy News
    Stocks higher despite worries about financials (AP)

    Traders work the floor of the New York Stock Exchange Thursday, July 10, 2008  in New York. Stocks rebounded Thursday after discounters posted better-than-expected sales for June and Dow Chemical Co. announced an agreement to acquire rival Rohm and Haas Co. in a deal worth more than $15 billion.  (AP Photo/Frank Franklin II)AP - Stocks moved higher in choppy trading Thursday as a deal for Dow Chemical Co. to acquire rival Rohm and Haas Co. boosted investor confidence but could not fully offset continued worries about the health of financial companies.


    -- read full article
    Thu, 10 Jul 2008 18:33:11 GMT - Yahoo! News: Economy News
    Dow, S&P turn negative on oil, financials (Reuters)

    Traders work on the floor of the New York Stock Exchange, July 8, 2008. (Brendan McDermid/Reuters)Reuters - The Dow and the S&P 500 turned negative on Thursday as the price of oil jumped more than $5 and financial stocks fell on worries about more credit losses.


    -- read full article
    Thu, 10 Jul 2008 18:37:30 GMT - Yahoo! News: Economy News
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