Recession GDP Dip Smaller Than Expected Sparks Optimism
The Commerce Department reports second quarter GDP fell 1 percent annualized, better than the predicted 1.5 percent. After a 6.4 percent drop in Q1, the economy marks four straight quarters of contraction, with cautious signs of recovery as government spending resumes and trade improves.
MENTIONED IN THIS ARTICLE
Washington, D.C
Commerce Department
United States
Joel Naroff
Naroff Economic Advisors
Profit reports push Dow to best July in 20 years
New hope for the economy lifts stocks as the Dow soars 725 points in July 2002 style rally. Caterpillar leads gains with a 33.4 percent monthly jump after lifting its annual profit forecast while the S and P 500 hits its strongest July since 1997.
MENTIONED IN THIS ARTICLE
Dow
New York
U.S
Standard & Poor
S&p
Caterpillar Inc
House passes limits on Wall Street executive bonuses
The House approved a bill restricting Wall Street pay after nine banks that took bailout funds awarded bonuses over 1 million dollars. The 237 to 185 vote embraces Obama holdouts while expanding oversight and limiting incentive plans that push risky finance.
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Wall Street
Ees
Barack Obama
Senate
Congress
Obama
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