Wall Street Falls Ahead of Federal Reserve Report
Stocks slipped as traders awaited the Fed statement with anxiety about the economy. Banks faced warnings and financial shares dropped while defensive sectors rose. Dow fell 96.50 to 9,241.45, S&P 500 lost 12.75 to 994.35, Nasdaq down 22.51 to 1,969.73.
MENTIONED IN THIS ARTICLE
Wall Street
Federal Reserve
Rockwell Collins Wins Avionics Order for 25 A320 Jets
Bermuda-based Three Twenty Holdings orders avionics from Rockwell Collins for 25 A320s. Deliveries start in September and run through 2015, including MultiScan Hazard Detection System, ADF-900 Direction Finder, and DME-900 equipment.
MENTIONED IN THIS ARTICLE
Rockwell Collins
Three Twenty Holdings Ltd
Oil and gas prices fall as firms cut back
The Labor Department report shows weak consumer spending with energy prices slipping. Benchmark crude settled at 69.45 a barrel on the NYME while national gas averages dropped to 2.64 a gallon. In 2009, salary hikes fell below 8 percent for the first time since 1976, though employers boosted bonus shares to about 12 percent of payroll.
MENTIONED IN THIS ARTICLE
Labor Department
New York Mercantile Exchange
Auto Club Aaa
Wright Express
Oil Price Information Service
U.S
Hewitt Associates
Hewitt
Economy improves yet hiring wary as firms wait for sales rise
U S employers trimming jobs before recession recovery. Small business owners require months of rising sales and more orders, with hours cut and temporary staff used to fill gaps. Productivity up while employment remains slow, wages and unemployment linger high.
MENTIONED IN THIS ARTICLE
North Carolina
Duke Messinger
William Dunkelberg
National Federation of Independent Business
Sophia Koropeckys
Moody's Economy.com
Kwik-Way Works to Meet Cash for Clunkers Demand
Marion firm Kwik-Way Products Inc. rapid bottling of sodium silicate for the Cash for Clunkers program marks a shift from sealants to a disabler of engines. With Irontite lines in Marion and El Monte, over 10 000 one gallon containers were prepared, at times 1000 bottles daily, as government funding supports the program.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette Arion
Marion
Kwik-Way Products Inc
Kwik-Way
Dennis Mullarkey
Mullarkey
el Monte
Calif
Lee O’brien
Fed weighs extending consumer lending programs as economy edges up
Fed Chair Ben Bernanke and colleagues meet to assess data and anecdotes on how businesses and consumers fare. While signs point to the recession easing and growth resuming, the Fed warns recoveries after crises are slow and risks remain. Unemployment may top 10 percent. commercial real estate loan defaults rise, tightening banks. The Fed is expected to keep rates near zero with a pledge to hold them low, spurring spending while lending remains weak. Factory activity improves and home sales recover, helped by foreclosures, though job cuts persist and lending flow stays uneven.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Ben Bernanke
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Avionics
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MAPI
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Los Angeles
Clunker Death Serum
David. Dewitte
Gazcomm.com
Cliff Jette
the Gazette