January 30th, 2013
08:40 AM ET

Economy contracted last quarter, feds say

The U.S. economy contracted at 0.1% annual rate in the fourth quarter of 2012, the government says.

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Filed under: Economy
January 28th, 2013
07:46 AM ET

Monday's live events

President Obama will deliver his fourth State of the Union address before Congress on February 12.  Watch CNN.com Live for all of your political coverage.

Today's programming highlights...

12:30 pm ET - White House briefing - Gun control, immigration reform and spending will likely dominate Press Secretary Jay Carney's agenda with the White House press corps.

FULL POST


Filed under: Barack Obama • Congress • Economy • Gun violence • On CNN.com today • Politics
Apple stock plunges 12%
January 24th, 2013
04:22 PM ET

Apple stock plunges 12%

The world's most valuable publicly traded company took a hit on the stock market Thursday.

Shares of Apple plunged more than 12% Thursday, to $450.50, as investors grew skeptical about the iPhone maker's growth prospects, CNNMoney reports.

Apple's stock has been on a steady decline for months, with shares falling more than 35% from their all-time intraday high of $705, which was reached Sept. 21, 2012.

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Filed under: Apple • Business • Economy • Technology
Jobless claims fall to another 5-year low
January 24th, 2013
09:11 AM ET

Jobless claims fall to another 5-year low

The number of Americans filing initial claims for unemployment benefits is hovering at its lowest level in five years, after falling for a second week in a row.

First-time claims for unemployment benefits fell by 5,000 last week to 330,000, down from 335,000 the previous week. That's the lowest level since January 2008. It's unclear why claims have fallen so dramatically in recent weeks. For more on this story, go to CNNMoney here.

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Filed under: Economy • U.S.
January 22nd, 2013
10:21 AM ET

Existing-home sales reach five-year high

Decent news today for a housing recovery in the United States: Existing home sales for 2012 have reached the highest level in five years, the National Association of Realtors says.

The housing market has continued to pick up steam throughout the recovery, as record-low mortgage rates spur demand for homes.

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Filed under: Economy • Housing
January 17th, 2013
04:15 PM ET

Dow, S&P close at 5-year highs

The Dow Jones industrial average and the S&P 500 have closed at five-year highs, boosted by positive data on housing and employment.

The Dow finished at 13,596.02 on Thursday, up 84.79 points from Wednesday. The S&P 500 was at 1,480.93, up 8.3 points from the previous day.

The Nasdaq, like the Dow and the S&P 500, also rose about 0.6% on Thursday, ending at 3,136.00, up 18.46 points from Wednesday.

FULL STORY

Filed under: Business • Economy
January 17th, 2013
07:46 AM ET

Thursday's live events

President Obama will be sworn in for a second term in office on Monday, January 21.  Watch CNN.com Live for all your inauguration coverage.

Today's programming highlights...

10:00 am ET - U.S. economic forecast briefing - Spending and the debt ceiling remain a hot topic of discussion in Washington, but what do these fears mean for the U.S. economy?  Leading bank economists discuss the matter this morning.

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Filed under: Economy • On CNN.com today • Politics
January 4th, 2013
09:00 AM ET

U.S. economy adds 155,000 jobs

December was a somewhat positive month for U.S. jobs, the U.S. Bureau of Labor Statistics reports.

The U.S. economy added 155,000 jobs in December, roughly enough to keep pace with labor force growth, keeping the unemployment rate at 7.8% unchanged from November's revised rate, the bureau said Friday morning. Health care was the sector with the greatest jump, with 45,000 jobs added.

The gain is slightly above the average monthly gain for 2012 and 2011, which was 153,000 per month, the bureau says.

As you mull these numbers, here's something to consider: They include those you might call the hopelessly unemployed, those who say they want a job but haven't searched for one in at least a year. CNNMoney reports that number is above 3.3 million, higher than the 2.5 million recorded five years ago, before a recession began. Who are they, and why have they given up? Check out this report from CNNMoney's Annalyn Kurtz.

See Bureau of Labor Statistics report on December jobs

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Filed under: Economy • Jobs
January 1st, 2013
05:14 PM ET

More back and forth on fiscal cliff, still no deal

It seems we're not much closer to a deal on the fiscal cliff.

The finger-pointing and the one-liners from both sides continues as we wait to see if we'll get a vote from the House after the Democrat-led Senate passed a bill that would put off budget cuts for two months and preserve Bush-era income tax cuts for individuals earning less than $400,000 or couples earning less than $450,000.

And since I refuse to talk anymore about who is kicking a can down a road or any tired sports metaphors I’m just going to give you the latest quotes from both camps this afternoon as they try and sort this out.

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December 28th, 2012
07:38 AM ET

Friday's live events

The talk in Washington is all about the "fiscal cliff" and what the president and Congress need to do to avoid it.  Watch CNN.com Live for continuing coverage of the fiscal cliff debate.

Today's programming highlights...

11:30 am ET (est.) - Senate Democrats briefing on fiscal cliff - Sen. Tom Harkin and others will call on Congressional Republicans to help resolve the fiscal cliff crisis at a Capitol Hill briefing.

CNN.com Live is your home for breaking news as it happens.

 


Filed under: Budget • Economy • Finance • On CNN.com today • Politics • Taxes
December 27th, 2012
12:19 PM ET

Obama, Senate back in Washington as fiscal cliff deadline looms

Let the endgames begin.

After a Christmas holiday, President Barack Obama returned to Washington from Hawaii and the U.S. Senate reconvened Thursday as the deadline approached for going over the fiscal cliff of automatic tax hikes and spending cuts.

However, the House remained on Christmas break, with members warned they could be called back on 48 hours' notice if needed.

Hopes for a so-called grand bargain that would address the nation's chronic federal deficits and debt appeared dashed for now, with four days remaining to reach agreement on a smaller plan that would avoid the harshest effects of the fiscal cliff's tax increases and slashed spending.

With House Republicans unable to resolve the impasse, the focus shifted to the Democratic majority in the Senate to come up with a way forward that could pass the House and get signed into law by Obama.

Geithner: U.S. to hit debt ceiling Dec. 31

Consumer confidence dips on cliff fears

Will fiscal cliff hurt economy?

FULL STORY
December 27th, 2012
07:45 AM ET

Thursday's live events

The talk in Washington is all about the "fiscal cliff" and what the president and Congress need to do to avoid it.  Watch CNN.com Live for continuing coverage of the fiscal cliff debate.

Today's programming highlights...

Ongoing coverage - Winter weather

11:30 am ET - Obama returns to Washington - President Obama cuts short his Christmas vacation in Hawaii to return to Washington and resume work on a deal to avert the fiscal cliff.

CNN.com Live is your home for breaking news as it happens.

 


Filed under: Budget • Economy • Finance • On CNN.com today • Taxes • Weather • Winter weather
December 26th, 2012
07:38 AM ET

Wednesday's live events

The talk in Washington is all about the "fiscal cliff" and what the president and Congress need to do to avoid it.  Watch CNN.com Live for continuing coverage of the fiscal cliff debate.

Today's programming highlights...

Ongoing coverage - Severe weather in the Southern, Eastern U.S.

CNN.com Live is your home for breaking news as it happens.

 


Filed under: Budget • Economy • Finance • On CNN.com today • Taxes • Weather • Winter weather
December 23rd, 2012
10:54 AM ET

Sunday's live events

The talk in Washington is all about the "fiscal cliff" and what the president and Congress need to do to avoid it.  Watch CNN.com Live for continuing coverage of the fiscal cliff debate.

Today's programming highlights...

3:00 pm ET - Sen. Inouye memorial service - President Obama will attend the final memorial service for the late Sen. Daniel Inouye at the National Memorial Cemetery of the Pacific in Hawaii.

CNN.com Live is your home for breaking news as it happens.

 


Filed under: Budget • Economy • Finance • Hawaii • On CNN.com today • Politics • Taxes • U.S.
December 21st, 2012
07:52 AM ET

Friday's live events

The talk in Washington is all about the "fiscal cliff" and what the president and Congress need to do to avoid it.  Watch CNN.com Live for continuing coverage of the fiscal cliff debate.

Today's programming highlights...

9:00 am ET - School safety forum - In the wake of the Newtown shooting, Education Secretary Arne Duncan will address a Washington on the need for comprehensive protocols and policies to protect students from violence and crime.

FULL POST


Filed under: Budget • Connecticut • Crime • Economy • Finance • Gun violence • On CNN.com today • Politics • Taxes • U.S.
New York Stock Exchange operator sold
The New York Stock Exchange
December 20th, 2012
08:39 AM ET

New York Stock Exchange operator sold

IntercontinentalExchange will buy NYSE Euronext, the operator of the venerable New York Stock Exchange as well as some leading European exchanges, in an $8.2 billion cash and stock deal, the companies announced Thursday.

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Filed under: Business • Economy
Boehner willing to talk tax rates for wealthy, source says
President Barack Obama, House Speaker John Boehner and Treasury Secretary Tim Geithner at a November meeting.
December 15th, 2012
09:23 PM ET

Boehner willing to talk tax rates for wealthy, source says

House Speaker John Boehner has offered to include higher tax rates on the wealthiest Americans as part of a deficit-reduction deal to avoid the fiscal cliff, a source close to the talks confirmed to CNN on Saturday.

The latest twist in the negotiations, first reported by Politico, indicates a possible breakthrough in the protracted efforts to forge a deal to reduce the nation's chronic federal deficits and debt.

According to the source, who spoke on condition of not being identified further, Boehner proposed allowing tax rates on income over $1 million to return to higher rates of the 1990s while extending current reduced rates for all income up to that threshold.

However, Boehner's spokesman said no deal had been reached, though communication continues with the White House.

FULL STORY
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Filed under: Economy • Politics • Taxes
Lower gas prices give consumers a pre-holiday break
Gas prices fell 7.4% during November, the U.S. Labor Department says.
December 14th, 2012
09:24 AM ET

Lower gas prices give consumers a pre-holiday break

A November drop in gas prices drove down a key measure of inflation for U.S. consumers, the Labor Department said Friday.

The Consumer Price Index fell 0.3% during the month, thanks to 7.4% drop in gas prices last month alone, CNNMoney’s Chris Isidore reports.

FULL STORY
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Filed under: Economy • Energy
December 14th, 2012
07:41 AM ET

Friday's live events

The talk in Washington is all about the "fiscal cliff" and what the president and Congress need to do to avoid it.  Watch CNN.com Live for continuing coverage of the fiscal cliff debate.

Today's programming highlights...

12:30 pm ET - White House briefing - The fiscal cliff crisis, Susan Rice's decision and North Korea will likely dominate Press Secretary Jay Carney's briefing with White House reporters.

CNN.com Live is your home for breaking news as it happens.

 


Filed under: Budget • Economy • Finance • On CNN.com today • Politics • Taxes
December 13th, 2012
07:37 AM ET

Thursday's live events

The talk in Washington is all about the "fiscal cliff" and what the president and Congress need to do about it.  Watch CNN.com Live for continuing coverage of the fiscal cliff debate.

Today's programming highlights...

8:00 am ET - Golden Globe nominations - Actors Jessica Alba, Megan Fox and Ed Helms announce the nominations for 70th Annual Golden Globe Awards in Beverly Hills, California.  The Golden Globes honor the best in TV and film.

FULL POST


Filed under: Budget • Economy • Finance • Movies • On CNN.com today • Politics • Showbiz • Taxes • TV
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