By John Solomon
How the government's punishing of the exposure of official wrongdoing can linger for years
Apple and other technology companies led the stock market up for the second day in a row Thursday.
At first glance, it looked as if the elections might be a slam-dunk for Republicans this year, given the way presidents in recent history have fared in the face of poorly performing economies. But as the GOP is finding out, today's economy is a double-edged sword that is cutting both for and against President Obama.
Major stock indexes sank Wednesday after the Federal Reserve said it was concerned about the strength of the U.S. economy.
The Federal Reserve acted Wednesday to lift an economy that's being held back by a weakened job market. It's extending a program designed to spur borrowing and spending through lower long-term U.S. interest rates.
U.S. corporations are brimming with cash and reporting record levels of profits, but many workers haven't received solid raises in years. Some have had to take on the workloads of laid-off colleagues, but have not received additional pay. The jobs that are open often provide smaller paychecks than the ones Americans lost during the 2007-09 recession.
The Dow Jones industrial average surged 286 points Wednesday, its best day this year.
U.S. stocks and Treasury prices dropped Tuesday after Federal Reserve policymakers said they were worried about a slowdown in hiring and appeared to resist buying more bonds to help the economy.
Bank stocks turbocharged a rally across the financial markets Tuesday, and all three major stock indexes posted their biggest gains of the year. The Dow Jones industrial average rose 218 points and closed at its highest level since the end of 2007.
Stock indexes crept lower Wednesday after Europe edged closer to a recession that would hurt corporate profits at home. The first earnings reports from American companies didn't add much encouragement.
China's economy is struggling for a second time in four years to avoid being dragged under by a receding tide of ebbing growth and financial crises elsewhere in the world.
Investors began giving in to fears Thursday that a global recession is already under way.
Stocks plunged Friday after a dismal report on the job market renewed fears of another recession.
Stocks plunged early Friday after a dismal report on economic growth added to traders' fears that the U.S. might default on its debt.
The death of Osama bin Laden improved President Obama's re-election prospects and strengthened his hand in negotiations with congressional Republicans, raising hopes in financial markets that it will be easier to cut defense spending and make progress tackling the budget deficit in coming weeks.
The nation's unemployment rate crept back up toward double-digit levels last month, rising to 9.8 percent after being stuck around 9.6 percent for much of the year, the Labor Department reported Friday morning.
