Financial Market

The economy might not be on the brink of another recession after all.

Consumers, who drive most economic growth, spent more on cars, furniture, electronics and other goods in July — and more in May and June than previously thought. That burst of activity is encouraging because it shows many Americans were willing to spend despite high unemployment, scant pay raises, steep gas prices and diminished wealth.

continue reading…

Consumers spent more on autos, furniture, clothing and gas in July, pushing up retail sales by the largest amount in four months. The gain signaled that Americans are a little more confident in the economy and could helped dispel fears that the country is headed for another recession.

Retail sales rose 0.5 percent last month, the Commerce Department said Friday. It was the best showing since March. The government also revised sales higher in the previous two months.

continue reading…

Is it time to sell everything or buy with abandon?

Investors can’t make up their minds. This week was one of the most volatile in the history of Wall Street. The Dow Jones industrial average swung more than 400 points four days in a row — down, then up, then down, then up.

It’s frightening, but experts say the fear results partly because memories of the financial meltdown of 2008, when stocks lost half their value, are fresh.

continue reading…

The stock market comeback has proceeded at a rapid clip for more than two years. Yet the economic recovery has been frustratingly slow.

continue reading…

About 200,000 Citibank credit card customers in North America have had their names, account numbers and email addresses stolen by hackers who broke into Citi’s online account site.

continue reading…