New York (CNNMoney) - A sell-off on Wall Street gained momentum Wednesday, with the Dow falling below 13,000 for the first time in two months, as investors focused on how President Obama plans to avoid the fiscal cliff after he won re-election Tuesday night.
A weak outlook for economic growth in Europe and European Central Bank president Mario Draghi's warning of a slowdown in Germany also weighed on the market.FULL STORY
HONG KONG (CNNMoney) - World markets were down slightly Wednesday as investors processed U.S. election results.
Asia markets were modestly lower, with the Hang Seng in Hong Kong down 0.4%, the Nikkei in Tokyo off 0.1% and the Shanghai Composite sinking 0.3%.FULL STORY
New York (CNNMoney) – One wants to strengthen the nation's existing safety net. The other wants to overhaul it.
President Barack Obama and challenger Mitt Romney have vastly different views on how to help the 46.2 million Americans in poverty and the more than 30 million people who are near poor. The president leans toward expanding the programs that exist, while the Republicans say they will set up a system that fosters economic opportunity instead of government dependency.
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New York (CNNMoney) – Hiring increased last month, while the unemployment rate ticked higher, according to a report released just four days before the presidential election.
The economy added 171,000 jobs in October, while the unemployment ticked up to 7.9, from 7.8% in September, the Labor Department said Friday.
Las Vegas, Nevada (CNN) – Paul Ryan focused on Nevada's high unemployment and foreclosure rates when he visited the battleground state the same day as President Barack Obama on Thursday.
Roughly an hour after the Democratic incumbent held a rally in Las Vegas, Ryan spoke to fewer than a thousand people in Reno, where his running mate and Republican presidential nominee Mitt Romney campaigned just a week ago.
New York (CNNMoney) – Hurricane Sandy could cause a delay in the release of the highly-anticipated October jobs report set for this Friday.
The report is normally released at 8:30 a.m. ET the first Friday of the month. This month's report is the final reading on the health of the job market before the presidential election.FULL STORY
(CNN) - The New York Times on Saturday endorsed Barack Obama, citing the president's policies in health care, the economy, foreign affairs, civil rights and his choices of two Supreme Court justices among the reasons for support.
"In the poisonous atmosphere of this campaign," the editorial states, "it may be easy to overlook Mr. Obama’s many important achievements, including carrying out the economic stimulus, saving the auto industry, improving fuel efficiency standards, and making two very fine Supreme Court appointments." FULL POST
Ames, Iowa (CNN) - Mitt Romney renewed his bid for independent voters Friday, pledging in a formal speech to unite a fractious Washington and deliver "big change" to reset the country's course.
"This election is a choice," Romney told more than a thousand voters on a windy Iowa afternoon, saying Americans faced "a choice between the status quo - going forward with the same policies of the last four years - or instead, choosing real change, change that offers promise, promise that the future will be better than the past."
Ames, Iowa (CNN) – The owner of an Iowa construction company where Mitt Romney will deliver a speech on the economy received stimulus funds, according to the government's web site that tracks expenditures from the federal program.
Kevin Kinzler, owner of Kinzler Construction Services, received a $1.25 million dollar loan from the Small Business Administration through the American Recovery and Reinvestment Act in May of 2009, shortly after the stimulus plan was signed into law by President Obama.
New York (CNNMoney) – U.S. economic growth picked up in the third quarter, boosted by stronger consumer spending, an improving housing sector and increased defense spending.
Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 2% from July to September, the Commerce Department said Friday, faster than the 1.3% in the second quarter.FULL STORY