First time jobless claims fell by 94,000 for the week ended Dec. 27, the Department of Labor reported today.
The Conference Board Consumer Confidence Index fell to a reading of 38 in December, down from 44.7 in November and matching the record low set in October.
Advisers’ confidence in the economy and the stock market improved for the second consecutive month in December, according to Rydex AdvisorBenchmarking’s Advisor Confidence Index.
Personal spending fell 0.6% in November, as job losses began to mount and the economy continued to slow, according to the Department of Commerce.
Consumer took some heart in December, as lower prices have provided a measure of relief to jittery Americans fretting about continued job losses and decreasing incomes.
Economists are expecting an even steeper drop in gross domestic product numbers for the fourth quarter than final Department of Commerce third-quarter numbers, released today.
Standard and Poor’s Ratings Services today lowered its counterparty credit and financial ratings on Nationwide Financial, the life insurance division of Columbus, Ohio-based Nationwide Mutual Insurance Co., to A+, from AA-.
Tremont Group Holdings, which is owned by OppenheimerFunds Inc., a subsidiary of Massachusetts Mutual, had $3.3 billion invested with Mr. Madoff — more than half of its total $5.8 billion under management.
The wirehouses appear to have escaped major exposure to Bernard Madoff's alleged Ponzi scheme.
Does Mary Schapiro have the right stuff to take on the big firms? Although praise is coming in from many quarters for the nomination of the Finra chief to head up the Securities and Exchange Commission, there may be cause for concern.
Chief executive John Mack sounds the retreat from Morgan Stanley's swashbuckling days after the firm ost $2.34 per share for the quarter ended Nov. 30.
Axa SA of Paris, Massachusetts Mutual Life Insurance Co. of Springfield and Swiss Reinsurance Co., as well as other all-star companies, have also been exposed to Mr. Madoff’s alleged $50 billion Ponzi scheme.
The consumer price index, which measures the cost of living, fell by a record 1.7% in November, as gasoline and other energy prices plunged, according to a Department of Labor report.
Retail sales fell for the fifth consecutive month — 1.8% in November — according to the Department of Commerce.
Morgan Stanley downgraded ING Groep NV, Standard Life PLC and Aegon NV to “underweight” from “equal weight,” expecting more challenges ahead for the insurers, Reuters reported.
The economic crisis has reduced prices of U.S. imported and exported goods and services at the fastest pace since 1988, when records were first kept, according to a Department of Labor report.
The SEC finalized settlements today with Citigroup and UBS that will provide nearly $30 billion to tens of thousands of customers who invested in auction rate securities before the market for these investment products dried up in February.
Confidence among Americans regarding their future personal financial conditions and the jobs market continue to decline, dropping the index near to its all-time low of this past July.
The number of first-time jobless claims was 573,000 for the week ending Dec. 6, a 58,000 increase from the previous week.
Most investors are satisfied with the way their portfolios have held up in the market downturn, according to a survey by Natixis Global Associates of Boston.
