Oil above $70 in European trade on weaker dollar, mixed inventory, fresh Nigeria riskOil prices rose above $70 a barrel Thursday amid a weakening U.S. dollar, mixed crude inventory data and a decision by Nigeria’s main rebel group to resume attacks next week on the country’s oil industry. Target posts decline in key sales metric for September but tops analyst estimatesMINNEAPOLIS — Target says a key sales measure dipped 1.7 percent in September but beat analyst estimates. The result led the discount retailer to predict third-quarter earnings per share above Wall Street’s forecast. Cash-strapped Ala. county to reopen 2 courthouses; more than 650 headed back to workBIRMINGHAM, Ala. — Alabama’s most populous county is reopening two courthouses and more than 650 employees will return to work after 10 weeks of unpaid leave amid a severe budget crisis. Stock futures climb after surprising profit from Alcoa, drop in initial jobless claimsNEW YORK — Stocks appear headed to a sharply higher opening Thursday after Alcoa kicked off earnings season with an unexpected profit and weekly jobless claims fell more than expected. New jobless claims drop more than expected to 521,000, lowest level since JanuaryWASHINGTON — The number of newly laid-off workers filing first-time claims for jobless benefits fell to the lowest level since early January, as layoffs eased a bit amid a fledgling economic recovery. European Central Bank, Bank of England leave interest rates unchangedFRANKFURT — The European Central Bank and the Bank of England both left their key interest rates unchanged Thursday at record lows. Retailers report September sales declines, though many results come in better than expectedNEW YORK — A late Labor Day and delayed school openings offered some relief to merchants in September, helping to boost sales above Wall Street expectations. But spending still remains tepid as consumers focused on necessities amid job worries and tight credit. European Central Bank leaves main interest rate unchanged at 1 percentFRANKFURT — The European Central Bank left its key interest rate unchanged at 1 percent on Thursday. Retailers report sales declines for September as shoppers worry about jobs, tight creditNEW YORK — Early September reports from retailers show weak sales as shoppers cut back on fall clothing purchases amid worries about jobs and tight credit. PepsiCo 3rd-quarter profit rises 9 percent on cost-cutting efforts even as sales declineMILWAUKEE — PepsiCo Inc. said Thursday that its fiscal third-quarter profit rose 9 percent, in part on cost-control efforts, even as revenue dropped on weak beverage sales. Marriott reports 3rd-quarter loss on charges for weak timeshare businessCHICAGO — Vacationers helped Marriott International Inc. post a better profit for the third quarter than the hotel owner and operator had forecast. Stock futures climb after surprising profit from Alcoa; ahead of weekly jobless reportNEW YORK — Stock futures are pointing to a sharply higher opening Thursday after Alcoa kicked off earnings season with an unexpected profit, helping to boost investors’ hopes for an economic recovery. Upbeat Alcoa gives world markets a boost ahead of European interest rate decisions
Treasury Secretary Geithner makes time for select group of powerful Wall Street bankersWASHINGTON — Even during his most frenzied days, when Congress is demanding answers or the president himself is calling, Treasury Secretary Timothy Geithner makes time to talk to a select group of powerful Wall Street bankers. Asian stock markets advance as investors eye company earnings; crude oil above $71
Mr. Geithner, Wall Street is on Line 1 (again): When these men call, the Treasury boss answersWASHINGTON — Even during his most frenzied days, when Congress is demanding answers or the president himself is calling, Treasury Secretary Timothy Geithner makes time to talk to a select group of powerful Wall Street bankers. European Central Bank, Bank of England set to keep interest rates at record lowsLONDON — Europe’s two leading central banks are expected to keep interest rates unchanged Thursday and damp down any talk that borrowing costs will soon rise in the wake of a surprise rate hike by Australia’s central bank. Asian stock markets rise modestly as investors eye company earnings; oil above $70HONG KONG — Asian stock markets were modestly higher as investors eyed earnings from major companies for clues about the health of the global economy. Australia’s unemployment rate drops; dollar rises to 14-month highCANBERRA, Australia — Australia’s unemployment rate surprisingly dropped to 5.7 percent in September, the government said Thursday, news that caused the Australian dollar to surge to a 14-month high. Oil rises above $70 in Asia amid weaker US dollar, mixed crude inventory dataSINGAPORE — Oil prices rose above $70 a barrel Thursday in Asia amid a weakening U.S. dollar and mixed crude inventory data. Agreement on Chicago Sun-Times sale closer as union leaders tentatively back contract changesCHICAGO — A major roadblock to sealing a deal on the sale of the Chicago Sun-Times appears to have been swept away. Congressman says Navy document shows new presidential helicopter triples cost, slows deliveryWASHINGTON — An internal Navy document shows new plans to replace the president’s fleet of helicopters will cost taxpayers more and take years longer to deliver than a recently scrapped contract, a New York Democrat said Wednesday. Congress to consider bill that would ease Calif. water transfers, aid drought-stricken farmsWASHINGTON — Democratic lawmakers from California have introduced legislation intended to increase the flow of water to the state’s parched San Joaquin Valley, where farmers have idled thousands of acres. 2nd hearing on bill proposing ban on importation of foreign nuclear waste set for next weekSALT LAKE CITY — An effort to ban the importation of foreign nuclear waste has been given new life with a hearing set for next week in Washington, D.C. Pelosi, Reid meet Obama at White House to review new job creation optionsWASHINGTON — Faced with a stinging rise in unemployment, President Barack Obama summoned Congress’ top two Democrats Wednesday to the White House to discuss additional proposals to help the jobless and boost the economy. Nutrition, food stamp, dairy programs among winners in spending billWASHINGTON — Nutrition, food stamp and dairy aid programs were among the winners as the House on Wednesday approved a $121 billion agriculture spending bill for the 2010 budget year. Boost for health care bill: Now estimated to cover 94 percent of US, cost $829 billionWASHINGTON — Democrats are breathing a sigh of relief after a positive cost report on health care overhaul gave them a chance to rally around a Senate plan that significantly expands coverage while trimming the federal deficit. Yum Brands, Monsanto, Family Dollar, Costco, Google are among big market movers WednesdayNEW YORK — The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange: CBO: Budget deficit hit record $1.4T in 2009 thanks to recession-fed drop in revenue, bailoutsWASHINGTON — The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday. Gold prices gain momentum, hit new high even as dollar rebounds; Oil falls, while grains riseNEW YORK — Gold prices extended their rally Wednesday, climbing to fresh highs even as the dollar recouped some of its losses. |
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Upbeat Alcoa gives world markets a boost
Asian markets advance as company earnings eyed
