An old editor at MarketWatch once called the Federal Reserve's Jackson Hole summer retreat a “goat rodeo.” Having never attended such an event, I instead liken it to the Pro Bowl of economics, with media tents like you see at the Super Bowl media day.
As Sears continues to stumble, the struggling retail giant is leaning on its billionaire CEO Edward Lampert to prop up the company until it can sell off its household brands, home services business and real estate.
WASHINGTON—Demand for long-lasting factory goods rebounded in July, a sign the manufacturing sector could continue to stabilize in the second half of the year.
The number of Americans filing applications for unemployment benefits fell to the lowest level in five weeks, another sign of endurance in the labor market.
Stocks were mostly unchanged in morning trading Thursday as investors sifted through a handful of earnings reports. Several companies including HP and Dollar General fell after their results disappointed investors.