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    U.S. Economy Headlines
    Jobless claims hit 2003 high, linked to outreach (AP)

    Manuel Mejia, who recently lost his job as a garment worker, applies for unemployment benefits with the New York State Department of Labor on Wednesday, July 30, 2008. The Labor Department reported Thursday that the number of applications for jobless benefits soared to 448,000, an increase of 44,000 from the previous week. That was far worse than the decline of 8,000 that economists had been expecting.  (AP Photo/Mark Lennihan)AP - The number of people filing claims for unemployment benefits jumped last week to the highest level in five years, reflecting in large part a new government outreach effort to locate people eligible for benefits.


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    Thu, 31 Jul 2008 15:22:45 GMT - Yahoo! News: Economy News
    Dow, S&P 500 fall on economic worry; Nasdaq up (Reuters)

    Trading specialists work on the floor at the New York Stock Exchange, July 16, 2008. (Chip East/Reuters)Reuters - The Dow industrials and the S&P 500 fell on Thursday as disappointing growth and employment data heightened concerns about the economy's health and the outlook for corporate profits.


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    Thu, 31 Jul 2008 18:14:31 GMT - Yahoo! News: Economy News
    Can Paulson Save the Economy? (Time.com)
    Time.com - The Treasury Secretary made his reputation as a Wall St. dealmaker, but heading off a recession will be a tougher job -- read full article
    Thu, 31 Jul 2008 17:20:00 GMT - Yahoo! News: Economy News
    Economy grows at soft pace (Reuters)

    Shoppers manoeuvre their way through the aisle at Costco Warehouse in Arlington, Virginia, May 29, 2008. (Molly Riley/Reuters)Reuters - An emergency dose of government stimulus helped the economy grow at a 1.9 percent annual rate in the second quarter, a soft pace but enough to take it off a path perilously close to recession.


    -- read full article
    Thu, 31 Jul 2008 17:26:10 GMT - Yahoo! News: Economy News
    Paulson says housing remains biggest threat (AP)
    AP - The $168 billion government stimulus effort has been a timely support for the economy and will continue to boost growth in the second half of this year, Treasury Secretary Henry Paulson said Thursday. -- read full article
    Thu, 31 Jul 2008 17:39:34 GMT - Yahoo! News: Economy News
    Stocks slide on GDP, jobless reports (AP)

    Trading specialists work on the floor at the New York Stock Exchange, July 16, 2008. (Chip East/Reuters)AP - Stocks mostly declined Thursday after a weaker-than-expected reading on the nation's economy and troubling news on jobs touched off renewed concerns about businesses and consumers.


    -- read full article
    Thu, 31 Jul 2008 18:10:52 GMT - Yahoo! News: Economy News
    Economic rebound not as energetic as hoped for (AP)

    A crane works on a new condo under construction in Chicago. The US economy expanded at an annualized 1.9 percent pace in the second quarter of the year, marking an improvement from the prior quarter.(AFP/Getty Images/File/Tim Boyle)AP - The country didn't get the energetic rebound in economic growth hoped for from the government's tax rebates in the second quarter, and the economy jolted into reverse at the end of 2007, raising new recession fears.


    -- read full article
    Thu, 31 Jul 2008 18:13:37 GMT - Yahoo! News: Economy News
    S&P cuts Big Three carmaker ratings lower into junk (Reuters)

    General Motors SUV's are displayed in an autosales lot in Troy, Michigan June 3, 2008. (Rebecca Cook/Reuters)Reuters - Standard & Poor's on Thursday cut ratings on all three major U.S. automakers deeper into junk status, citing expected losses due to higher gas prices and a weakening U.S. economy.


    -- read full article
    Thu, 31 Jul 2008 18:53:09 GMT - Yahoo! News: Economy News
    Wall Street rises on ADP jobs data and Fed's move (Reuters)

    Morning sunlight shines on the front of the New York Stock Exchange July 29, 2008. (Brendan McDermid/Reuters)Reuters - The Dow industrials and S&P 500 rose on Wednesday as a surprising increase in private-sector employment and central bank efforts to boost liquidity in stormy financial markets offset a surge in oil prices.


    -- read full article
    Wed, 30 Jul 2008 20:30:30 GMT - Yahoo! News: Economy News
    Stimulus effective in lifting spending: study (Reuters)

    Shoppers at a Costco Warehouse in Arlington, Virginia, May 29, 2008. (Molly Riley/Reuters)Reuters - Tight-fisted consumers wary of anemic economic growth opened their wallets between May and July and spent their economic stimulus checks, a recent study has found.


    -- read full article
    Wed, 30 Jul 2008 18:48:20 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.


    -- read full article
    Wed, 30 Jul 2008 21:44:02 GMT - Yahoo! News: Economy News
    IBD's Top 10 - Wednesday (Investor's Business Daily)
    Investor's Business Daily - 1 Sept. crude fell below $121, then rallied to close up $4.58 to $126.77 a barrel on a sharp drop in U.S. gasoline stockpiles. They fell 3.5 mil barrels last week, defying forecasts for a slim gain, as lower retail gas prices may have coaxed drivers to fill up. Also, Israeli PM Ehud Olmert's resignation opens the door to a leader that may be more hawkish toward Iran. -- read full article
    Wed, 30 Jul 2008 23:03:53 GMT - Yahoo! News: Economy News
    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.


    -- read full article
    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
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