US Trade Gap Widens In June

WASHINGTON (Reuters) – The U.S. trade deficit widened in June to $27.0 billion, as goods imports increased for the first time in 11 months on the back of higher oil prices, a Commerce Department report said on Wednesday.
Analysts surveyed before the report had expected the monthly trade gap to widen to around $28.5 billion. But [...]

Second-Quarter Productivity Rises 6.4%

WASHINGTON (Reuters) – U.S. non-farm productivity in the second quarter rose at its fastest pace in six years as companies slashed costs to protect profits, government data showed on Tuesday.
The Labor Department said non-farm productivity rose at a 6.4 percent annual rate, the biggest gain since the third quarter of 2003, from a revised 0.3 [...]

Art Cashin: Don’t Trust Spike Rallies

“Friday’s rally caught a lot of people off-base” — including so-called “experts,” Cashin conceded. Friday proved that you can stampede some of that sideline money,” Cashin said. But “there has been no follow-through on these spike rallies,” he pointed out. “The last four had no follow-through.” -cnbc

Market Wrap-Up (08/07/2009)

- Investor optimism shifted into high gear this week as several helpings of very positive economic data captivated markets and plenty of commentators rushed to declare a bottom. Goldman Sachs Strategist Abbey Joseph Cohen said “the new bull market has begun,” predicting the S&P500 would be at 1050-1100 by the end of 2009 (echoing Goldman’s [...]

Biggest Bear Market Rally: Rosenberg (Video)

“I’m seeing an S&P 500 that has priced in 30% profit growth next year. We were priced for Armageddon and now we’re priced for nirvana but the truth is probably somewhere in between.” -David Rosenberg

As far as Rosenberg is concerned, stocks can’t support their current gains.Here’s why:
- Financial stability remains uncertain in the post-bubble credit [...]

Employers cut 247,000 jobs in July

WASHINGTON (Reuters) – U.S. employers cut 247,000 jobs in July, far less than expected and the least in any month since last August, according to data on Friday that provided the clearest evidence yet that the economy was turning around.

Employers cut 247,000 jobs in July, far less than expected and the least in any month [...]

Cramer: 5 Reasons You Should Buy Citigroup Right Now

To do extraordinary things, sometimes you need to go out on a limb, and Cramer is doing that by recommending Citigroup [C 4.00 0.20 (+5.26%) ]. That’s right Citigroup, the bank which is 34% owned by US taxpayers. Cramer’s reasoning is that buying this stock is the [...]

Initial Jobless Claims Fell 38,000

WASHINGTON (Reuters) – The number of U.S. workers filing new claims for jobless benefits fell sharply last week, a government report showed on Thursday, boosting views the labor market and the economy were stabilizing.
Initial claims for state unemployment insurance fell 38,000 to a seasonally adjusted 550,000 in the week ended August 1 from 588,000 the [...]