Archive for August 28th, 2008

Stocks jumped Thursday, with the Dow and S&P 500 rising for the third straight session thanks to lower oil prices, a surprisingly strong reading on second-quarter economic growth, and a rally in the financial sector.

Personal computer maker Dell Inc. reported fiscal second quarter earnings that fell from a year ago and missed Wall Street's expectations while sales in the quarter topped forecasts.

Lehman Brothers, the once high-flying investment bank hit hard by the real estate crisis, is planning to lay off 1,500 workers, a source within the company confirmed Thursday.

The government's latest assessment of the nation's financial system showed that many more small banks are in trouble. But what the report didn't say may speak volumes.

Oil prices fell sharply Thursday reversing an early rally as the oil industry braced for a potentially devastating blow to production as Tropical Storm Gustav swirls in the Gulf of Mexico.

At a time when most housing markets continue to sour, the Big Apple remains in a relative sweet spot. Whether it can stay there may go a long way toward determining how much longer the economy remains in a funk.

Are we in a recession or not? And if we are, when did it begin? I don't know about you, but I'm tired of the recession debate. Does it really matter if this current economic period ever (or never) gets labeled a recession?