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Stocks have closed a brutal week on a quiet note. The market rose slightly Friday after bouncing between gains and losses. Worries about the economy again pounded copper, gold and other commodities. AP Photo/Mark Lennihan Working for Barclays Capitalare Vincent Folds, left, William Bott, center, and James Maguire, right, at the New York Stock Exchange, Friday, in New York. Investors fear that a global recession may already be under way. The Dow Jones industrial average rose 38 points, or 0.4 percent, to 10,771. The Dow fell...
WASHINGTON — The mixed economic signals driving the stock market's record-setting swings this week keep coming. On Friday, conflicting reports on retail sales and consumer sentiment sent the Dow up, then down, then up again. By early afternoon, the Dow Jones industrial average was up 162 points. It had been up more than 150 points early Friday after a government report consumers spent more on autos, furniture and gasoline in July, pushing up retail sales by the largest amount in four months. But the Dow briefly turned n...
WASHINGTON — The number of people seeking unemployment benefits fell last week below 400,000 for the first time in four months, a sign that the job market may be improving slowly after a recent slump. Applications for unemployment aid dropped by 7,000 to a seasonally adjusted 395,000, the Labor Department said Thursday. Applications had been above 400,000 for the previous 17 weeks. The four-week average, a less-volatile figure, fell to 405,000, its sixth straight decline and the lowest level since mid-April. That suggests l...
Republicans are stepping up their criticism of the Securities and Exchange Commission following reports that senior agency staffers spent hours surfing pornographic websites on government- issued computers while they were supposed to be policing the nation's financial system. California Rep. Darrell Issa, the top Republican on the House Oversight and Government Reform Committee, said it was "disturbing that high-ranking officials within the SEC were spending more time looking at porn than taking action to help stave off the...