Economy, Good News | featured news

Another recession isn't likely over the next 12 months. Neither is any meaningful improvement in the economy.

Stocks are edging higher following a four-week losing streak. The Dow Jones industrial average is up 23 points, or 0.2 percent, to 10,844 in midday trading Monday. It had been up as many as 203 points. The Dow fell 4 percent last week as worries deepened that the U.S. could slip into a recession. The S&P 500 rose less than a point to 1,124. The Nasdaq was up less than a point at 2,342.

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....

The Fed spoke - and financial markets rallied. The Dow Jones industrial average surged more than 429 points, its tenth highest point gain in history and the biggest since March 2009. It was just one day after the Dow had its worst point decline since 2008.

Job growth in the U.S. rebounded higher in July and the unemployment rate edged lower, the government reported Friday, providing a pinch of good news amid turmoil in global markets and intensifying fears of a recession.

The world economy should expand steadily this year and next thanks mainly to prospering emerging powers, a Reuters poll showed, but fiscal troubles lurking in Europe and potentially the United States risk blowing this view apart.

Consumer prices fell slightly more than expected in June to post their biggest drop in a year on weak gasoline costs, government data showed on Friday, pointing to a cooling in commodity-driven inflation pressures.

U.S. retail sales rose slightly in June. Initial claims for jobless benefits fell sharply last week but remained at elevated levels.

International Monetary Fund Managing Director Christine Lagarde said on Wednesday the global economy was rebounding from the financial crisis but recovery remains unbalanced.

Americans are finally getting some relief from high gas and food prices. Wholesale food prices fell last month by the most in nearly a year, and gas prices keep dropping after peaking in May. A separate survey suggests CEOs are feeling more optimistic and will hire more in the second half of this year.