The American public will get a competing mix of rhetoric and imagery in President Barack Obama's State of the Union address Tuesday, a speech that offers a heavy dose on the economy even as it plays out against a visual backdrop dominated by the current national debate over guns.
With the economy still trying to find its footing and with millions still out of work, Obama will make a case for measures and proposals that he says will boost job creation and put the economy on a more upward trajectory. Obama's emphasis underscores a White House recognition that while the president seeks to expand his agenda and build a second-term legacy, the economy remains a major public preoccupation. Continue reading "Obama to stress jobs"
Stocks were flat on Wall Street as the latest round of earnings reports failed to give investors an impetus to push the market's recent rally forward.
The Dow Jones industrial average fell 7 points to 13,973 as of 11:51 a.m. EST Wednesday. The Standard & Poor's 500 dropped one point to 1,511. The Nasdaq composite was flat at 3,171.63.
Time Warner rose $2.20 to $52.16 after the company said its net income grew 51 percent in the last three months of 2012 even as revenue was largely unchanged. Marathon Oil Corp. fell 46 cents to $34.26 after its fourth-quarter net income fell 41 percent on higher exploration costs and taxes. Continue reading "Stocks flat as earnings fail to inspire investors"
Racing against the clock, the White House reached agreement with congressional Republicans late Monday on a deal to prevent across-the-board tax increases and spending cuts to government programs from taking effect at midnight, according to administration and Senate Democratic officials.
These officials said a New Year's Eve vote in the Senate to ratify the deal was possible later in the evening, barring opposition from majority Democrats.
There was no immediate confirmation from aides to the top Republicans in Congress, Sen. Mitch McConnell and House Speaker John Boehner.
Vice President Joseph Biden headed for the Capitol to brief the Democratic rank and file. Continue reading "Fiscal cliff deal reached"
(RTTNews) - With traders digesting a mixed batch of U.S. economic news, stocks have shown a lack of direction over the course of morning trading on Wednesday. The major averages have been bouncing back and forth across the unchanged line.
The choppy trading on Wall Street comes as traders continue to express uncertainty about the near-term outlook for the markets following the release of several key U.S. economic reports.
While the New York Federal Reserve released a report showing an unexpected contraction in regional manufacturing activity, separate reports showed a bigger than expected increase in industrial production and an unexpected improvement in homebuilder confidence. Continue reading "Choppy Trading Persists On Wall Street"
(RTTNews) - After failing to sustain an early upward move, stocks turned in another lackluster performance during trading on Tuesday. While upbeat U.S. retail sales data contributed to the early strength, buying interest waned over the course of the session.
The major averages eventually ended the session mixed for the fourth time in the past five sessions. While the Dow crept up 2.71 points or less than 0.1 percent to 13,172.14, the Nasdaq fell 5.54 points or 0.2 percent to 3,016.98 and the S&P 500 edged down 0.18 points or less than 0.1 percent to 1,403.93. Continue reading "Stocks Close Mixed For The Day"