News
Market Watch | U.S. growth remains modest, Fed says
The U.S. economy continued to grow modestly across much of the nation in the past month, the Federal Reserve reported Wednesday, based on interviews with thousands of business contacts.
CNN Money | Oil workers win big as U.S. wages climb
Big pay hikes in the energy industry have helped fuel the biggest jump in U.S. wages in more than five years, according to an industry report released Wednesday.
FOX News | Average US rate on 30-year mortgage rises to 3.39 pct.; 15-year edges up to 2.70 pct.
Average U.S. rates on fixed mortgages tick up from record lows last week. Cheaper mortgages are fueling a modest housing recovery that could help the broader economy.
CNN Money | Colder winter will increase heating costs
Heating costs are likely to significantly rise this winter, due primarily to much colder weather rather than higher prices, according to a government report released Wednesday.
Market Watch | Foreclosure activity drops to 5-year low
Foreclosure activity dropped in September to the lowest level since July 2007, RealtyTrac reported on Thursday.
WSJ | U.S., Japan Face Risks As Havens, IMF Warns
The world's two largest advanced economies, the U.S. and Japan, face growing long-term risks from investors fleeing trouble spots around the world, the International Monetary Fund warned Wednesday.
Market Watch | U.S. trade gap widens as exports fall again
The U.S. trade deficit widened 4.1% in August to $44.2 billion as exports continued to weaken, the Commerce Department said Thursday.
USA Today | Corporate profits expected to fall in 3Q
Investors spoiled by years of soaring corporate profits are bracing for something they haven't had to endure in quite some time: a decline.
Econ Comments & Analysis
WSJ | So Long Price-Earnings, Hello Price-Expectations
At the end of last week, major equity indexes including the S&P 500, the Stoxx Europe 600 and the MSCI Emerging Markets were up by about 15% from their early June lows, while the Dow Jones Industrial Average was up around 12.5%. Certain European bourses did even better, such as Spain's IBEX 35, which surged more than 30%.
Trib Live | Beware some economic commentary
Economists have failed to communicate the basic insights of economics to the general public. So it’s unsurprising that public understanding in the 21st century of elementary truths of the economy is on par with public understanding in the ninth century of elementary truths of the solar system.
Blogs
WSJ | Vital Signs Chart: Paychecks Losing Ground
Americans’ paychecks have lost ground in the recovery, one reason why consumption and consumer confidence are weak. Average hourly earnings were $19.80 in August, adjusted for inflation, the same as August 2011 and down slightly from the beginning of 2009. With unemployment falling but still high, employers can fill many jobs without raising salaries.
