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Money & Markets

Stocks reverse fall, mostly higher

Stocks reversed a steep sell-off to end mostly higher Friday as fears about a worrisome jobs report gave way to bargain hunting in sectors such as financials and consumer staples.

Nation flooded by pink slips

The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years - and it's likely to go even higher in the months ahead, possibly throwing the economy into a tailspin as Americans pick a new president.

Ex-money manager sentenced to 24 years

Hamilton Alan Bird, his black shirt untucked and his head bowed, was led out of an El Paso County courtroom in handcuffs Friday after being sentenced to 24 years in prison.

Dow slides on grim news

Dejected investors sent stocks plunging Thursday, hurtling the Dow Jones industrials down more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery.

30-year mortgages dip slightly to 6.35 percent

WASHINGTON (AP) _ Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July.

Traders react cautiously to so-so news

Wall Street finished mixed in fickle trading Wednesday, with investors unsettled about the economy ahead of Friday's employment report and only somewhat relieved about sliding commodities prices.

Social Security recipients now given option of debit cards

The U.S. Treasury for many years has offered direct-deposit to Social Security recipients. Now it has another option aimed at those who do not have bank accounts - debit cards.

Fed: U.S. in a slow-growth rut

The country is stuck in a slow-growth rut, the Federal Reserve suggested Wednesday.

Distribution rule a surprise to many retirees

There's some sentiment that a government rule that forces retirees to withdraw money from their IRA and 401(k) accounts when they turn 70 1/2 may need to be changed.

Stock rally sputters over economic jitters

Wall Street succumbed to its ongoing angst Tuesday, giving up a sharp advance and turning moderately lower after falling oil prices failed to calm the market's nervousness about the economy and the financial sector.

Fed official: Failure part of healthy economies

Federal Reserve Bank of Kansas City President Thomas Hoenig said on Monday that for economies to work best, institutions must be allowed to fail.

Income, real spending take turn for worse

Consumer spending slowed to a crawl and personal incomes plunged in July, reflecting the waning impact of $93 billion in economic stimulus payments.

Income report pushes stocks lower

Wall Street tumbled Friday after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed. The Dow Jones industrial average dropped more than 170 points, while a disappointing profit report from computer maker Dell Inc. weighed on the technology-heavy Nasdaq composite index.

Economic bounce not expected to last

The economy pulled out of a dangerous rough patch in the spring, thanks largely to strong exports, but the rebound isn’t expected to last.
Stocks jump on stronger GDP

Wall Street barreled higher Thursday after a better-than-expected reading on the gross domestic product and a drop in jobless claims gave investors some reassurance that the economy is holding up. The Dow Jones industrial average jumped more than 200 points.

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