Economy News
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Factory strength propels economy into 2012
WASHINGTON - U.S. factory output in December grew at the fastest pace in a year and homebuilder sentiment improved this month, further evidence the economy entered the new year on firmer footing.
Analysis: Asia's economic growth slipping into neutral
SINGAPORE - Asia's economic growth may be settling into a middling pace that is too slow to provide significant global support but too fast to warrant aggressive policy easing.
One million homeowners may get mortgage writedowns: U.S.
WASHINGTON - About one million American homeowners would get writedowns in the size of their mortgages under a proposed deal with banks over shady foreclosure practices, U.S. Housing and Urban Development Secretary Shaun Donovan said on Wednesday.
Cities to see job gains, but many struggle
- Almost all U.S. metropolitan areas will see job growth in 2012, but for many areas it will still take years for employment to return to pre-recession levels, according to a report released on Wednesday by the U.S. Conference of Mayors.
Mortgage applications surge on refinancing demand: MBA
NEW YORK - Applications for home mortgages surged more than 20 percent last week, fueled by a wave of refinancing demand as interest rates dropped, an industry group said on Wednesday.
As Fed speaks more clearly, what will markets hear?
WASHINGTON - The Federal Reserve's latest push toward increased transparency has so far done more to muddle the outlook for interest rates than clarify it.
World Bank slashes global GDP forecasts, outlook grim
BEIJING/WASHINGTON - The World Bank warned developing countries on Wednesday to prepare for the "real" risk that an escalation in the euro area debt crisis could tip the world into a slump on a par with the global downturn in 2008/09.
Obama jobs panel pushes tax reform, domestic drilling
WASHINGTON - President Barack Obama's jobs council called on Tuesday for a corporate tax overhaul, expanded domestic drilling and new regulatory reforms, a set of proposals unlikely to provide a quick fix for high unemployment or gain much traction in an election year.
New York manufacturing growth accelerates in January
NEW YORK - A gauge of manufacturing in New York State showed growth picked up in January, rising to the highest level in nine months as new orders and employment improved, the New York Federal Reserve said in a report on Tuesday.
Euro zone inflation dips, opens door to ECB cut
BRUSSELS - Consumer prices in the euro zone fell more than previously expected in December, the start of a retreat from a November peak that should give the European Central Bank more room to cut interest rates as the economy heads for recession. | Video
Markets
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| DOW | 12,578.95 |  +96.88 |
+0.78% |
| S&P; 500 | 1,308.04 | +14.37 |
+1.11% |
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Sector Summary
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| Basic Materials | +0.40% |
| Industrials | +0.43% |
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| Financials | +0.95% |
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| Technology | +0.10% |
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| Utilities | -0.37% |
Home is where the heartache is…
The hope that larger government involvement will stabilise the Chinese property market over the longer term may not be borne by the experience of more advanced economies.
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