News
CNN Money | Nearly 2 million homeowners no longer 'seriously' underwater
During the first quarter, 9.1 million, or 17%, of homeowners were seriously underwater on their home, meaning their debt exceeded the home's value by 25% or more, according to RealtyTrac. That's down from 10.9 million, or 26%, of all properties a year earlier.
FOX Business | Mid-Atlantic Manufacturing Heats Up in April
The Philadelphia Federal Reserve’s gauge of manufacturing activity rose to 16.6 in April from 9 in March, far surpassing Wall Street estimates for a reading of 10. Readings above 0 point to expansion, while those below indicate contraction.
CNN Money | China GDP slows to 7.4% in first quarter
The world's second-largest economy grew by 7.4% in the first quarter, compared to the same period last year, according to the National Bureau of Statistics. Economists surveyed by CNNMoney had forecast slightly slower growth of 7.3%.
Market Watch | 30-year-mortgage rate falls to 4.27%
The average rate for a 30-year fixed-rate mortgage fell to 4.27% in the week that ended April 17 from 4.34% in the prior week, according to a Thursday report from federally controlled mortgage-buyer Freddie Mac
Econ Comments & Analysis
Fortune | The real economy is finally doing better than the money economy
On Wednesday, Bank of America (BAC) announced that it had lost nearly $300 million in the first quarter. Analysts were expecting the bank to turn a profit. A year ago, it earned $1.5 billion. Meanwhile, profits at meat company Tyson Foods (TSN) are predicted to have jumped 130% in the first three months of the year. The bottom line at The Cheesecake Factory (CAKE) likely rose as well. Jarden (JAH), which bought Yankee Candle Co. last year, made $19 million in the first quarter. Last year, it lost a little over $4 million.
WSJ | Regulator Without Peer
Washington set a new record in 2013 by issuing final rules consuming 26,417 pages in the Federal Register. While plenty of government employees deserve credit for this milestone, leadership matters. And by this measure President Obama has never been surpassed in the Oval Office.
Real Clear Markets | 5 Warning Signs of a New Market Crash in 2014
While stock markets around the world are near record highs, The Telegraph's John Ficenec sees ample reasons for worry. Here are 5 of his top signs that we could be in for a major market crash.
Blogs
WSJ | Has Social Security Disability Enrollment Hit Plateau?
The surge in the number of Americans receiving Social Security disability benefits – up 42% since 2004 – appears to have hit a plateau, but it’s unclear if the program has actually peaked and will ever recede.
