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    U.S. Economy Headlines
    Wall St cuts gains, Nasdaq off as oil offsets ADP jobs (Reuters)

    Morning sunlight shines on the front of the New York Stock Exchange July 29, 2008. (Brendan McDermid/Reuters)Reuters - Stocks cut gains while the Nasdaq slipped into negative territory on Wednesday as oil prices rose sharply, offsetting positive jobs data and efforts by U.S. officials to boost liquidity in turbulent financial markets.


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    Wed, 30 Jul 2008 17:43:23 GMT - Yahoo! News: Economy News
    Mortgage applications slowest since 2000: MBA (Reuters)
    Reuters - Applications for U.S. home mortgages dropped to their slowest pace since December 2000 as loan rates hovering near one-year highs compounded the housing market's woes, according to data from an industry group on Wednesday. -- read full article
    Wed, 30 Jul 2008 11:04:28 GMT - Yahoo! News: Economy News
    Covered Bonds: What the Paulson Plan Means for You (BusinessWeek Online)
    BusinessWeek Online - Treasury Secretary Henry Paulson announced a plan on Monday to encourage banks to issue a new form of debt known as a covered bond. Paulson said that if investors buy enough of these bonds, which are generally considered safer than many of the risky mortgage-backed securities that proliferated during the housing boom, banks will feel more comfortable financing mortgages again. That, along with various other measures, could restart the stalled housing market, Paulson said. ... -- read full article
    Wed, 30 Jul 2008 12:08:41 GMT - Yahoo! News: Economy News
    Private sector gains 9,000 jobs in July: report (Reuters)

    A sign outside a warehouse advertises available jobs in Arvada, Colorado October 5, 2007. (Rick Wilking/Reuters)Reuters - Private employers added 9,000 jobs in July, according to a private report by ADP Employer Services released on Wednesday.


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    Wed, 30 Jul 2008 12:24:43 GMT - Yahoo! News: Economy News
    Fed takes steps to break through credit clogs (AP)

    The Federal Reserve Building in Washington, January 22, 2008. (Kevin Lamarque/Reuters)AP - Focused on getting the nation's credit gears smoothly working again, the Federal Reserve is letting Wall Street firms draw emergency loans into next year and giving financial companies more options to help them overcome credit problems.


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    Wed, 30 Jul 2008 17:25:46 GMT - Yahoo! News: Economy News
    Consumers reduce credit card spending: study (Reuters)

    American Express and MasterCard credit cards are shown in Washington June 25, 2008. (Jim Bourg/Reuters)Reuters - Americans in all age and income groups have reduced credit card use and cut spending on non-essential items as oil and food prices soar, home prices sink and lenders tighten credit, a new study shows.


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    Wed, 30 Jul 2008 17:26:18 GMT - Yahoo! News: Economy News
    NY gov. seeks hiring freeze, spending cuts (AP)

    New York Gov. David Paterson prepares to address New Yorkers on television from the Capitol in Albany, N.Y., Tuesday, July 29, 2008.  Paterson is calling the Legislature into special session to deal with New York's economic woes.  (AP Photo/Mike Groll)AP - Gov. David Paterson said Wednesday he wants to freeze hiring and cut state spending by an additional 7 percent to shore up a state economy that his budget director said is officially in recession.


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    Wed, 30 Jul 2008 17:26:30 GMT - Yahoo! News: Economy News
    Summary Box: Consumer sees a bit of hope ahead (AP)
    AP - THE BAROMETER: Consumer confidence in the economy edged upward in July, the private research group the Conference Board reported, reversing a six-month slide since January. -- read full article
    Tue, 29 Jul 2008 19:18:23 GMT - Yahoo! News: Economy News
    Wall Street rises on oil slide and financials (Reuters)

    Morning sunlight shines on the front of the New York Stock Exchange July 29, 2008. (Brendan McDermid/Reuters)Reuters - Stocks rebounded on Tuesday, rising more than 2 percent on another sharp slide in oil prices and after Merrill Lynch's latest write-down and share sale hinted at a possible turning point in the credit crisis.


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    Tue, 29 Jul 2008 20:35:18 GMT - Yahoo! News: Economy News
    Obama meets Bernanke to discuss economy (Reuters)

    Federal Reserve Chairman Ben Bernanke testifies before the House Financial Services Committee on Capitol Hill, July 16, 2008. (Larry Downing/Reuters)Reuters - Democratic presidential candidate Barack Obama met Federal Reserve Chairman Ben Bernanke on Tuesday afternoon to discuss the U.S. economy and how to bolster it.


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    Tue, 29 Jul 2008 19:48:49 GMT - Yahoo! News: Economy News
    Americans look for ray of hope in economic gloom (AP)

    Vacant lots sit for sale in an unfinished neighborhood in Illinois, United States. The credit crisis stemming from the US housing slump has triggered a AP - Americans see a slice of sunlight for the economy, as a widely watched report Tuesday showed people are not as pessimistic about the future as they were a month ago.


    -- read full article
    Tue, 29 Jul 2008 19:58:24 GMT - Yahoo! News: Economy News
    Obama assures Bernanke he supports Fed independence (Reuters)

    Democratic presidential candidate Senator Barack Obama (D-IL) (2nd L) meets with some of his top economic advisors during a roundtable meeting at a hotel in Washington, July 28, 2008. (Jason Reed/Reuters)Reuters - Democratic presidential candidate Barack Obama discussed the risk of further U.S. economic deterioration with Federal Reserve Chairman Ben Bernanke on Tuesday and made clear his respect for the Fed's independence, the senator's spokesman said.


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    Tue, 29 Jul 2008 20:39:18 GMT - Yahoo! News: Economy News
    July auto sales expected to keep downward trend (AP)
    AP - Take automakers' inability to finance leases, combined with gas prices, the weak economy and other problems facing the industry, and you have the makings of what could be one of the worst months for auto sales in more than 15 years. -- read full article
    Tue, 29 Jul 2008 21:36:06 GMT - Yahoo! News: Economy News
    Stocks soar after another drop in oil prices (AP)

    Traders work on the floor of the New York Stock Exchange, July 29, 2008. (Brendan McDermid/Reuters)AP - Wall Street shot higher Tuesday, gaining back the previous session's sharp losses and then some, after a drop in oil prices and a rise in consumer confidence gave investors some hope for a letup in Americans' financial woes. The Dow Jones industrial average rose 266 points.


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    Tue, 29 Jul 2008 21:45:11 GMT - Yahoo! News: Economy News
    Home prices fell at record pace in May: S&P (Reuters)

    A house sits for sale in North Aurora, Illinois July 24, 2008. Prices of U.S. single-family homes plunged at a record pace in May from a year earlier, with each of the 20 regions monitored showing annual declines for a second month, according to the Standard  and  Poor's/Case Shiller home price indexes reported on Tuesday. (Jeff Haynes/Reuters)Reuters - Prices of U.S. single-family homes plunged at a record pace in May from a year earlier, with each of the 20 regions monitored showing annual declines for a second month, according to the Standard & Poor's/Case Shiller home price indexes reported on Tuesday.


    -- read full article
    Tue, 29 Jul 2008 13:58:19 GMT - Yahoo! News: Economy News
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