Monthly Archives: December 2014

[12/23/14]  The U.S. economy grew at its fastest rate in more than a decade between the months of July through September, according to government data released Tuesday morning, marking the latest sign that a once-sluggish recovery is now running at full speed. The Commerce Department said gross domestic product growth hit an annualized rate of 5 percent in the third quarter, revised upward from the previous estimate of 3.9 percent. Not since 2003 has the economy expanded so quickly. The better-than-expected GDP numbers helped push the Dow Jones Industrial Average above 18,000 for the first time, the latest in a series of record highs. The S&P 500 also...

[12/23/14]  Stocks are gaining Tuesday as the Dow and S&P 500 stretch further into record territory following news of 5% economic growth in the third quarter. As of 10:17 a.m. ET, the Dow Jones industrial average and S&P 500 are up 0.2% or a little more. The Nasdaq composite is down 0.2%. The blue-chip Dow shot past the 18,000 milestone for the first time at the opening bell and is cruising higher. Consumer spending is also strong, another economic report Tuesday morning shows. It was buoyed last month by rising wages and plunging gasoline prices. Consumption increased 0.6% after rising 0.3% in October, which was revised upward from 0.2%,...

[12/02/14]  U.S. construction spending rose more than expected in October as both private and public outlays increased, which could ease concerns of a sharp slowdown in fourth-quarter economic growth. Construction spending rose 1.1 percent, the largest gain since May, to an annual rate of $970.99 billion, the Commerce Department said on Tuesday. September's construction outlays were revised up to show only a 0.1 percent drop instead of the previously reported 0.4 percent fall. Economists polled by Reuters had forecast construction spending rising 0.6 percent in October. The upbeat construction data suggests some momentum in the economy early in the fourth quarter. Weak durable goods orders data has raised concerns of a sharp moderation in the...

[12/02/14]  Detroit automakers sold more cars and trucks in November than analysts expected, as a surging economy and falling fuel prices helped drive sales of big pickups and SUVs. General Motors on Tuesday said November sales rose 6.5 percent to 225,818, topping the average 217,462 projected by auto analysts. GM said its average transaction prices were a record $35,600, up $790 per vehicle from October and up $3,100 from a year ago. Sales of GM's Chevrolet Silverado pickup climed nearly 25 percent. Chrysler said sales rose 20.1 percent to 170,839, on strong showings by its Jeep brand and Ram pickup trucks, the unit of Fiat Chrysler Automobiles said on Tuesday. Analysts had expected 142,275. Jeep SUV sales jumped 27...