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Markets Rise on OptimismU.S. markets closed higher Wednesday to start the third quarter, which follows a quarter that saw the Dow Jones industrial average gain 11 percent. Sentiment has shifted tentatively toward a more optimistic mood, although some investors remain cautious as unemployment, at 9.4 percent, is expected to rise and spending remains sluggish. |
Near-Broke California Poised to Issue IOUs In Lieu of CashThe state of California has officially run out of cash. Now, it appears the fallout from California's epic budget shortfall is about to trickle down from the chambers of the lawmakers to the hands of the people -- in the form of IOUs. |
Obama's Health Care Plan Has Slim Majority SupportU.S. President Barack Obama's health care reform plan has slim majority support, according to a new survey released on Wednesday. The CNN/Opinion Research Corp. poll showed that 51 percent of the respondents favored the president's health care plan, with 45 percent opposed. |
Wal-Mart Reverses Stance on HealthcareU.S. retail giant Wal-Mart said it would support mandated employer healthcare contributions under certain conditions. Wal-Mart made the announcement after a Washington meeting that included White House Chief of Staff Rahm Emanuel, the Service Employees International Union and the Center for American Progress, a liberal think tank. |
ADP Reports More-Than-Expected Job Losses in JuneADP Employer Services reported today that private employers cut 473,000 jobs in June versus a revised loss of 485,000 jobs in May. The reading was worse than the 393,000 job losses economists had expected in June. |
As U.S. Troops Withdraw From Cities, Obama Calls on Iraqis to Define FuturePresident Barack Obama said Tuesday the point had arrived for Iraqis to determine the future of their country, as U.S. forces met a deadline to withdraw from Iraqi cities and towns. |
Cap and Trade Bill Creates Controversy Over JobsAfter the U.S. House passed a bill on Friday for cleaner emissions, heated debate continues over the historic but controversial new legislation. A major issue is jobs -- supporters say it will create them, but opponents say it will wreak havoc on the economy and boost unemployment. |
Standard & Poor's/Case Shiller Index Falls 18% from AprilStandard & Poor's/Case Shiller released its home price index Tuesday showing an 18.1% drop from April 2008. |
U.S. Consumer Confidence Drops in JuneA key measure of U.S. consumer confidence fell in June after two straight monthly gains, signaling the country's deep economic crisis is still prompting some uncertainty, according to a private research group Tuesday. |
Stocks Post Gains on Energy Sector and Recovery HopesU.S. stocks posted gains on Monday, led by energy companies and some optimism ahead of a big week of economic figures in the United States. |
Sotomayor Court Reversed in Connecticut Firefighters CaseThe Supreme Court reversed a lower-court ruling Monday in a key civil rights case in which high court nominee Sonia Sotomayor sat on the lower court. The high court voted 5-4 along its ideological divide that federal civil rights law can be used to ban discrimination against whites. |