U.S. Trade Deficit Plunges as Exports Hit Two-Year High

US Trade Deficit At $38.7 Billion, Better Than Expectations Of $43.8 Billion
From the release: The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total October exports of $158.7 billion and imports of $197.4 billion resulted in a goods and services Deficit of $38.7 billion, down from $44.6 billion in September, revised. October exports were $4.9 billion more than September exports of $153.8 billion. October imports were $0.9 billion less than September imports of $198.4 billion. In October, the good...

American kids overworked, overscheduled and underperforming?
On Pearl Harbor Day 2010, America was hit with a bombshell. Some say it rivals Sputnik, the 1957 Soviet satellite launch, in its alarming message about American education. Across the world, in 65 countries, 15-year-olds were administered a standardized test (PISA, or Program for International Student Assessment) measuring knowledge of reading, science and math. The winners in all three categories were students in Shanghai taking the test for the first time. Americans scored what can charitabl...

Trade deficit narrows as exports hit two-year high
The U.S. Trade Deficit narrowed more than expected in October as exports hit a two-year high and The Dollar weakened.  The gap shrank to $38.7 billion down from $44.6 billion in September, a decrease of 13.2 percent and the smallest difference since January, the Commerce Department reported Friday.  The increase in imports is good news for the Obama Administration that is pushing to double exports in five years as part of a plan to increase Economic Growth and cut into high levels of unemplo...

Trade Deficit Dips As Exports Rise
What is this? The nation's Trade Deficit narrowed to $38.7 billion in October, from $44.6 billion the month before, as exports rose to their highest level since August 2008, the Census Bureau just reported. The Associated Press adds that the Deficit stood at hits "Lowest Level in nine months" in large part because of increased demand for U.S.-made "machinery, farm products and autos fueled the growth."...

Trade Deficit Dips As Exports Rise
What is this? The nation's Trade Deficit narrowed to $38.7 billion in October, from $44.6 billion the month before, as exports rose to their highest level since August 2008, the Census Bureau just reported. The Associated Press adds that the Deficit stood at hits "Lowest Level in nine months" in large part because of increased demand for U.S.-made "machinery, farm products and autos fueled the growth."...

AFL-CIO opposes South Korea free trade agreement
WASHINGTON — The nation's largest labor federation said Thursday it will oppose the Free Trade deal between the Obama Administration and South Korea, a stance that could complicate efforts to get the support of Organized Labor's Democratic backers in Congress. The decision announced by AFL-CIO president Richard Trumka marks a break with the United Auto Workers union - an AFL-CIO affiliate - which agreed to support the deal after negotiators took steps to address South Korea's big trade s...

Largest US union fights South Korea trade deal
The largest US labor federation said it opposed a sweeping free Trade Agreement with South Korea, hurting the accord's chances of getting through the US Congress. AFL-CIO president Richard Trumka praised President Barack Obama's efforts to address what Unions view as problems with the accord but warned they did not sufficiently address the issues of Outsourcing US jobs and possible currency manipulation. "So long as these agreements fall short of protecting the broad interests of American worker...

AFL-CIO takes stand against Obama's S. Korea trade deal
The nation's largest labor federation said Thursday that it will oppose the free-trade deal between the Obama Administration and South Korea, a stance that could complicate efforts to get the support of Organized Labor's Democratic backers in Congress. The decision, announced by AFL-CIO President Richard Trumka, marks a break with the United Auto Workers union, an AFL-CIO affiliate that agreed to support the deal after negotiators took steps to address South Korea's big trade surplus in automobi...

Trade deficits narrows to 9-month low in October
In this Dec. 8, 2010 photo, containers are loaded onto vessels at the Port of Miami in Miami is shown. The U.S. Trade Deficit fell to the Lowest Level in nine months as imports declined while sales of American-made machinery, farm products and autos pushed exports to the highest level in more than two years. The U.S. Trade Deficit fell to its Lowest Level in nine months, as growing demand for American goods overseas pushed exports to their highest level in more than two years. The trade Deficit...

Trade Deficit Falls To 9-Month Low On Big Demand From China, India
WASHINGTON — The U.S. Trade Deficit fell to its Lowest Level in nine months, as growing demand for American goods overseas and a falling dollar pushed exports to their highest level in more than two years. The Trade Deficit narrowed to $38.7 billion in October, the Commerce Department reported Friday. The figure was 13.2 percent below September's Deficit of $44.6 billion. U.S. exports rose 3.2 percent to $158.7 billion, the highest level since August 2008. Sales of American-made machinery, f...

U.S. trade deficit narrows sharply in October to $38.7 billion, lowest level in 9 months.
WASHINGTON (AP) - U.S. Trade Deficit narrows sharply in October to $38.7 billion, Lowest Level in 9 months. ...

US trade deficit narrows sharply in October to $38.7 billion, lowest level in 9 months
WASHINGTON (AP) — U.S. Trade Deficit narrows sharply in October to $38.7 billion, Lowest Level in 9 months....

Demand For U.S. Goods Pushes Down Trade Deficit
The U.S. Trade Deficit fell to its Lowest Level in nine months, as growing demand for American goods overseas pushed exports to their highest level in more than two years. The Commerce Department says the Trade Deficit narrowed to $38.7 billion in October. The figure was 13.2 percent below September's Deficit of $44.6 billion. U.S. exports rose 3.2 percent to $158.7 billion, the highest level since August 2008. Sales of American-made machinery, farm products and autos fueled the growth. Imports ...

Unions Ready to Fight Obama's Free-Trade Pact With South Korea
President Obama very much wants Congress to approve a new free-trade agreement with South Korea next year, but some powerful labor Unions are already lining up against the deal, fearful it amounts to an invitation to employers to move jobs overseas. The AFL-CIO, United Steelworkers, International Association of Machinists and Communications Workers of America all said Thursday they intend to oppose the agreement, which would gradually knock down Tariffs and other barriers to trade between the tw...

South Korea free-trade deal opposed by AFL-CIO, Steelworkers, other unions
The proposed U.S.-South Korea free-trade deal drew fire from major unions Thursday, disrupting the Obama Administration's hope for building a broad consensus behind its first free-trade pact. This Story South Korea free-trade deal opposed by AFL-CIO, Steelworkers, other unions Kirk Says Korea Pact Confronts Cynicism Over Trade Deals User Poll: Will the trade pact help the U.S. economy? The AFL-CIO, the United Steelworkers, the International Association of Machinists and the Communications Wor...

Winners & Losers: AFL-CIO Abandons Obama on NAFTA-Style Trade Deal
What a week! When it was mentioned on Monday that this would be interesting to watch with Popcorn in hand, who could have imagined just how interesting it would get? Between Monday and today, the President of the United States has been called a sellout and ‘mentally disturbed,’ as well as essentially told to go reproduce himself (in a not-fit-for-print sort of way), all by members of his own party. With the UAW’s Bob King endorsing the ‘NAFTA-style‘ South Korean t...

Nasdaq Win Streak Hits 8; GE Powers Dow
The NASDAQ Composite advanced for the eighth session in a row and the Dow crept closer to fresh 2010 highs on Friday as Wall Street cheered a six-month high in consumer sentiment and General Electric’s confidence-inspiring dividend hike. The Dow Jones Industrial Average rose 40.26 points, or 0.35%, to 11410.32, the Standard & Poor's 500 gained 7.40 points, 0.60%, to 1240.40 and the NASDAQ Composite jumped 20.87 points, or 0.80%, to 2637.54. The FOX 50 picked 4.76 points, or 0.54%, to 8...

Climate deal wins wide backing, but Bolivia objects
CANCUN, Mexico (Reuters) - The United States, China and dozens of other countries rallied around a plan to slow Global Warming at climate talks on Friday, with Bolivia alone in condemning a deal that needs support from all to succeed. Many environment ministers, nearing the end of two weeks of talks among almost 200 nations, praised a proposal by Mexico to break an impasse between rich and poor countries about greenhouse gas cuts by rich nations under the Kyoto Protocol. The proposed deal does n...

South Korea: Reunification Drawing Near
South Korean President Lee Myung-bak has reiterated his belief that the reunification of North and South Korea, which in the context of his comments means the absorption of North Korean  territory under South Korea’s control, is “drawing near.” Lee urged the Chinese Government to prepare North Korea for this eventual reunification by pressing them to open their economy and embrace a Chinese-style economic system. He provided no timetable for the reunification. South Korea...

Week Ahead: Congress Ponders the Tax Deal
All eyes will be on Congress next week as investors watch to see whether President Obama’s tax Compromise with Republicans leaders has enough support to pass into law. If it does, nearly all Americans who pay income taxes will avoid a Tax Increase for at least two years. The first vote is planned for Monday on Legislation that would extend individual Tax Cuts for two years and extend jobless benefits for one year, at a cost of about $858 billion. Government data for Retail Sales and housin...

Report: Gates to visit China next month
This undated image provided by the Department of Defense shows Secretary of Defense Robert M. Gates. Gates Friday Dec. 10, 2010 said the Military should not begin preparing Troops for a possible Repeal of the ban on gay service until Congress takes action. China says U.S. Defense Secretary Robert Gates will visit next month as the two militaries exchange high-level visits to boost communication following recent tensions. The state-run Xinhua News Agency on Saturday cited a China Military spokes...

Obama's Day Of Truth
Yesterday was a remarkable day in the presidency of Barack Obama. Not once, but twice, did he acknowledge the true state and nature of his presidency. First up, he discussed the awarding of the 2010 Nobel Peace Prize to Chinese Dissident Liu Xiaobo. In a statement that was filled with typical Obama self-reference (ever notice that, to him, the significance of an event is enhanced by his presence and attention?), Obama stumbled into the truth: One year ago, I was humbled to receive the Nobel P...

Shani Davis wins 1,000-meter race at World Cup
Olympic gold medalist Shani Davis of the United States won the men's 1,000 meters at a World Cup speedskating meet on Saturday. Davis had a time of 1 minute, 9.56 seconds to finish 0.24 seconds ahead of South Korea's Lee Kyou-hyuk. Canadian Denny Morrison was third in 1:10.39. American Heather Richardson won the women's 1,000 with a time of 1:16.45. Japan's Nao Kodaira was second in 1:17.33 followed by Lee Sang-hwa of South Korea, who had a time of 1:17.87. Lee Kang-seok of South Korea had a tim...

UN climate talks approve initial deal in Cancun
Global talks on Climate Change on Saturday set up a new fund to manage billions of US dollars in aid to poor nations in a hard-fought package urging deep cuts in industrial emissions. After two weeks of talks in Mexico and two virtually sleepless final days, more than 190 countries reached a deal that leaves open an extension of the Kyoto Protocol whose requirements expire in two years. "A new era in international cooperation in Climate Change has begun," Mexican Foreign Secretary Patricia Espin...

US trade deficit shrinks on exports surge
A cargo ship loads up at the docks of Baltimore harbor in September 2010. T... The US Trade Deficit narrowed more than expected in October to the smallest gap since January, thanks to a surge in exports underpinned by a weaker dollar, official data showed Friday. The Commerce Department reported the trade gap stood at a seasonally adjusted 38.7 billion dollars, down some 13 percent from a revised 44.6 billion dollars in September. The improvement in the trade balance was much better than the 4...