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Economics News
Stocks post modest gains as job losses slow Investors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher.News that the nation's unemployment rate rose above 10 percent last month for the first time in 26 years didn't derail the stock market's strong gains in the week, which lifted major indexes more than 3 percent.The rise in joblessness to 10.2 percent in October, while bad news for the economy, reassured some investors that the Federal Reserve will have to hold interest rates low for some...
Consumer borrowing drops $14.8B in September The Federal Reserve said Friday that borrowing fell at an annual rate of $14.8 billion in September. That's the biggest decline since July and was larger than the $10 billion drop economists expected.Americans are borrowing less as they try to repair cracked nest eggs and replenish rainy day funds in a dismal jobs market. Many are finding it hard to get credit as banks, hit by the worst financial crisis in decades, have tightened lending standards.Borrowing by consumers for revolving credit,...
Deja vu: Wal-Mart, Amazon, Target in DVD price war Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month's price cut on books.The move led rivals Amazon.com Inc. and Target Corp. to reduce the prices of some online preorder DVDs, which pushed Wal-Mart to take a few more cents off its offerings.The world's biggest retailer said late Thursday that it would lower the online prices of new DVDs such as "Harry Potter and the Half Blood...
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