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US initial jobless claims continue to rise

The number of people claiming unemployment benefits continued to rise for the second week, according to a report by the U.S. Labor Department.

2011 could be worst year for foreclosures: RealtyTrac

After repossessing more than a record 1 million homes in the U.S., banks are now poised to foreclosure on even more properties in 2011, according to Realty Trac Inc.

Whitney forecasts 'indiscriminate selling” in muni bonds, reiterates default warnings

Meredith Whitney, CEO, Meredith Whitney Advisory Group LL

Analyst Meredith Whitney, who has faced enormous criticism over her dire warnings about the likelihood of up to 100 U.S. municipalities defaulting this year, reiterated her call. She further warned that when the defaults commence, the muni bond market will witness a massive exodus.

Chevrolet unveils 2012 Sonic at Detroit Auto Show

General Motors unveiled the all-new 2012 Chevrolet Sonic at the North American International Auto Show on Monday.

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Detroit Medical Center settles False Claims Act violation allegations for $30 mln

Detroit-based non-profit healthcare service provider Detroit Medical Center (DMC) has agreed to pay the federal government $30 million penalty to settle allegations that it violated the False Claims Act, the Anti-Kickback Statute and the Stark Statute by involving in improper financial relationships with referring physicians, according to a statement from the U.S. Department of Justice (DOJ).

Shoppers line up for Black Friday sales outside the Best Buy electronics store in Westbury, New York

Consumer confidence fell unexpectedly in December

U.S. consumer confidence fell in December to 52.5, weighed down by worries about jobs, the Conference Board stated.

Sebelius speaks about the flu season alongside Locke and Napolitano at the Commerce Department in Washington, August 19, 2009.

Healthcare bonuses go to states

The Department of Health and Human Services is handing out end of the year bonuses. Unlike the big cash awards that investment firms give their best performers at year’s end, these bonuses are meant to help the poor and disadvantaged.

A Christmas tree is seen inside the Blue Room of the White House in Washington

Is Christmas cheer making consumers optimistic?

Recent economic reports indicate that the average U.S. consumer is feeling more confident about the economy and intends to spend more with that belief. Consumer spending, which forms about 70 percent of GDP growth, rose in November for the sixth straight month, the Commerce Department reported on Thursday. Personal income also inched up marginally, which prices also rose during the month.

US consumer confidence touches 6-month high in Dec.

Consumer confidence in the U.S. improved to its best level in six months during December but the state of consumers' finances still remains grim, the Thomson Reuters/University of Michigan Survey said on Thursday.

Traders work on the floor of the New York Stock Exchange

US futures range-bound ahead of economic data

Futures on major U.S. stock indices remained-range bound on Thursday ahead of a wave of economic data including key weekly U.S. jobs data from the government.

Monstrous Stars Can Form Anywhere, Even Bereft Of Clusters

Most massive stars in the universe can and do form essentially anywhere, including in near isolation and very small clusters, and they don't need a large stellar cluster nursery, a new study finds. The findings does not support the scenario that the maximum mass of a star in a cluster has to correlate with the size of the cluster.

A woman browses job openings at a job fair in Los Angeles

2010 Census results show job market and population growth go hand in hand

The 2010 Census results show that the jobs market and population growth go hand in hand.

Texas gains four Congressional seats

Twelve Congressional seats will be shifting states in time for the 2012 elections, according to figures released today by the 2010 U.S. Census, and the most seats are coming to Texas..

Director of U.S. Census Bureau Robert Groves speaks during a presentation of the 2010 Census U.S. population

2010 Census results release : live

Detroit medical clinic owner sentenced to 151 months in prison for role in $23 mln Medicare fraud scheme

A Detroit-area medical clinic owner has been sentenced to 151 months in prison for his role in a $23 million Medicare fraud scheme, the Department of Justice (DOJ) and Health and Human Services (HHS) have announced.

Ford's Michigan plant to build Gas-Powered, Electric, Hybrid and Plug-In Hybrid Vehicles

Ford Motors on Wednesday said that it plans to build three production versions of electrified vehicles - battery electric, hybrid and plug-in hybrid vehicles and fuel efficient gas-powered vehicles on the same assembly line.

U.S. Attorney General Eric Holder (R) discusses the Healthcare Fraud and Prevention and Enforcement Action Team (HEAT) at the Justice Department in Washington, June 24, 2009. U.S. Secretary of HHS Kathleen is seen in the background.

Obama officials say health reform will prevail

The Obama administration's top legal and health officials defended the embattled health care law on Tuesday, saying they believe it will survive the legal challenges it faces.

Sunny report on solar exports

The Obama administration has an ambitious goal of doubling U.S. exports over the next five years and creating two million U.S. jobs in the process.

House Speaker Nancy Pelosi (D-CA) (2nd R) and Rep. George Miller (D-CA) (R) look on as U.S. President Barack Obama signs the Health Care and Education Reconciliation Act into law at Northern Virginia Community College in Alexandria, Virginia, March 30, 20

Key part of health reform unconstitutional, judge rules

Dealing a blow to a key part of the recently passed U.S. health care reform law, a federal judge ruled Monday it is unconstitutional to require individuals to buy health insurance or face a fine.

Newly sworn Gov. Jerry Brown of California. Consumer advocates are urging Brown to push for tighter health insurer regulation.

California's estate tax laws to spur budget deficits: Moody's

The new federal estate taxes proposed for the State of California will result in a much higher budget deficit in the state, according to a report by Moody's Investor Services.

Traders gather around the General Motors trading post on the floor of the New York Stock Exchange

Stocks drift higher on some encouraging economic data, ahead of expected tax-cut extension

Stocks drifted higher, with the S&P 500 approaching a two-year high, as traders seemed pleased with a narrowing trade deficit and higher consumer confidence, ahead of an expected extension of Bush-era tax cuts by the federal government.

US consumer sentiment up in December: Survey

Consumer sentiment in the U.S. rose more than expected during December, and an index of current conditions touched its highest level since January 2008, the Thomson Reuters/ University of Michigan Survey said.

USD/CAD in descending channel ahead of key US data, S1 seen at 1.0060/40

USD/CAD showed little reaction to the first set of data from the US and Canada on Friday and the pair stayed within a descending channel ahead of a more important consumer sentiment data from the US.

GBP/USD at 2-week high on data; aims 1.5952-1.5996 (R1) before 1.6104 (R2)

Higher-than-expected producer price index released Friday morning in London helped GBP/USD break above the key 1.5838 resistance to a 2-week high and is now targeting the 1.5952-1.5996 region.

EUR/USD widens channel on upside; still trending lower on debt woes

On a 2-hour chart, EUR/USD has next support at 1.3141 (S1), as indicated by the 61.8 percent Fibonacci retracement from 1.3422 to 1.2970. A break below the same could take it to 1.3059 (S2) before retesting the November 30 low of 1.2968.

AUD/USD completing 'right shoulder' seems tough; Chinese, US cues to impact

Despite a very strong jobs data early Thursday, the Austalian dollar looks less energized for a rally above Tuesday's high of 0.9964 to 1.0001, to complete the 'right shoulder' of a 'head and shoulders' pattern with 'head' at 1.0181 formed on November 5.