Gold prices closed higher Tuesday even as some investors put their money back into the stock market, an unusual situation that reflected continued anxiety among investors. Gold prices usually fall when the stock market rises, as it did for much of Tuesday. But gold prices continued to climb. The S&P 500 finished the day up [...]
Continue reading …Hiring picked up slightly in July and the unemployment rate dipped to 9.1 percent. The modest improvement may quiet fears of another recession, but it wasn’t enough to prevent another losing day on Wall Street. Employers added 117,000 jobs last month, the Labor Department said Friday. That’s better than the past two months, which were [...]
Continue reading …Unemployment remains stubbornly high at just over 9 percent, but it’s the alarming number of long-term jobless that is causing fresh concern for Democratic lawmakers. About 42 percent of the nation’s 14.1 million unemployed have been out of work for at least six months, and nearly one in three has been jobless more than a [...]
Continue reading …Oil prices fell below $92 a barrel Wednesday as more signs of a slowing U.S. economy raised concerns about demand for everything from gasoline to natural gas used to cool homes. Benchmark West Texas Intermediate crude dropped $2.10 to $91.69 a barrel in midday trading on the New York Mercantile Exchange. In London, Brent crude [...]
Continue reading …Stocks slumped again Wednesday as worries about the U.S. economy deepen. The Dow Jones industrial average was down 101 points in afternoon trading, putting in on track for its ninth straight day of losses, the longest losing streak since February 1978. The S&P 500 index was headed for its eighth straight loss. Investors are becoming [...]
Continue reading …Oil fell below $94 per barrel Tuesday as investors continued to worry about weaker economic growth. Benchmark West Texas Intermediate crude for September delivery was 74 cents lower, at $94.15 per barrel in morning trading on the New York Mercantile Exchange. Earlier, it was as low as $93.75. Brent crude, which is used to price [...]
Continue reading …The overall economic index for the mountain states region shows slow, positive growth in the months ahead. Colorado’s leading economic indicator dipped slightly – but is still growing. New orders, sales and production, inventories and employment all showed gains. “Driven by solid employment gains and unemployed exiting the work force, Colorado’s unemployment rate has declined [...]
Continue reading …Economists and businesspeople alike claim that numbers tell all. You can hide a problem, you can rationalize around it, you can even pretend it isn’t there. By the end of the month or the quarter, the numbers will tell the truth, the whole, truth, and nothing but the truth — unless you cook the books. [...]
Continue reading …A tax cut that began last month gave consumers the biggest jump in their incomes in nearly two years. But Americans boosted their spending only slightly, a sign that many people are being cautious with their money even as the economy improves. Consumers increased spending 0.2 percent in January, the smallest gain since June, the [...]
Continue reading …Employment data aren’t quite as opaque as the unemployment rate that we discussed last week, but there is still room for lots of confusion. Take the December data that were released for Colorado Springs a couple of weeks ago. We learned: Employment, at 275,400 jobs, was unchanged from November, but 4,500 jobs lower than December [...]
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