Wall Street falls after Bhutto assassination and strong durable goods data
Wall Street dropped sharply after the assassination of Pakistani opposition leader Benazir Bhutto and after the Commerce Department reported stronger durable goods orders. The Dow fell 192.08 points to 13359.61, the S&P 500 off 21.39 to 1476.27, and the Nasdaq down 47.62 to 2676.79. In other news, UnitedHealth Group faces a potential hurdle as a judge seeks state-law clarity on the settlement with former CEO William McGuire, freezing $874 million in stock options and threatening to derail an agreed arrangement after 15 years at the helm.
MENTIONED IN THIS ARTICLE
Wall Street
Benazir Bhutto
Commerce Department
U.S
Bhutto
Conference Board
Standard & Poor
UnitedHealth Group Inc
U.S. District Court
James Rosenbaum
Minnesota Supreme Court
William McGuire
McGuire
Durable goods orders inch up in November
U S factories saw durable goods orders, items meant to last at least three years, rise only 0.1 percent in November, after a 0.4 percent drop in October. Economists had expected a 2.2 percent gain, highlighting ongoing strains from housing and credit problems.
MENTIONED IN THIS ARTICLE
U.S
Commerce Department
Home mortgage rates shift with mixed results
Freddie Mac reported this week that 30-year fixed rate mortgages averaged 6.17 percent, up from 6.14 percent. Fifteen-year fixed rates held at 5.79 percent, while five-year adjustable-rate loans remained at 5.90 percent.
MENTIONED IN THIS ARTICLE
Freddie Mac
Gas price survey in the Corridor shows uptick
A random survey of gas prices in the Corridor taken yesterday afternoon shows prices rounded to the nearest cent. Local stations report varying increases and regional trends as motorists monitor costs ahead of the weekend.
ICAD Group adds three business leaders to board
Kevin Digmann Ryan Heiar and Dan Mann will join the Iowa City Area Development Group board of directors expanding the 31 member body Digmann is CFO and project manager for Hodge Construction Mann directs the Eastern Iowa Airport in Cedar Rapids and Heinz will represent the public sector replacing a resigning member Digmann and Mann replace two former directors with resignations Heinz North Liberty city administrator and Rhonda Wood Smith award recipient joins the board
MENTIONED IN THIS ARTICLE
the Gazette
Iowa City
Iowa City Area Development Group
Kevin Digmann
Ryan Heiar
North Liberty
Dan Mann
Cedar Rapids
Digmann
Hodge Construction
Mann
Fastern
Iowa
Michael Beck
Harry Wolf
Heinz
Sycamore Mall
Old Capital Town Center
Hawkeye State Bank
McGladrey Pullen
Eagle Grove
Elkader
Rhonda Wood Smith
Iowa League of Cities
Casper
Wyo
Natrona County
Soybean basis widens as farmers receive less than futures price
A new Iowa study shows soybeans bring cash prices at local elevators well below Chicago Board of Trade futures. Disparities reached up to $1.80 per bushel across states, driven by higher transport and storage costs and local supply demand, with North Dakota and South Dakota elevators among the lowest payers.
MENTIONED IN THIS ARTICLE
Chicago Board of Trade
Iowa Soybean Association
Multistate Soy Transportation Coalition
Mark Newman
Presi
Newman
North Dakota
South Dakota
Iowa
Cenex Harvest
Davenport
Five Star Farmers Coop
Nashua
Cargill
Cedar Rapids
Archer Daniels Midland
Des Moines
KCAG
Iowa job growth steadies at 3.9 percent in November
Iowa’s unemployment rate held at 3.9 percent in November as payroll jobs rose by 3,000. Iowa Workforce Development Director Elisabeth Buck said November showed renewed momentum despite economic risks. Cedar Rapids and Iowa City metro areas posted mixed changes, with government and leisure sectors declining in Cedar Rapids but gains in government and services statewide.
MENTIONED IN THIS ARTICLE
David DeWitte
Gazette
Iowa
Elisabeth Buck
Buck
Cedar Rapids
Iowa City
David.dewitte
Gazettecommunications.com
Start early savings habit for kids and teens
A federal study suggests over a third of today’s 17 year olds won’t have any savings at retirement. Barbara McMahon of Waddell & Reed says many young adults begin planning after the acquisition stage. Experts offer four steps: automate savings, track progress, open Roth IRAs for earned income, and form investment clubs to learn about markets.
MENTIONED IN THIS ARTICLE
Barbara McMahon
Waddell & Reed
Kansas City
McMahon
Michael Stahl
Roth
Stahl
Also Mentioned on This Page
Icad Group
Heiar
Brian James
Ryan Helar
Dan Mann Lowa City Area Development Group
Chicago Board
George C. Ford
Dent of Market Solutions
Chevy Chase
Cash Grain Bids Inc
Mike Steenhoek
Soy Transportation Coalition
American Soybean Association
United Soybean Board
National Grain and Feed Association
National Oilseed Processors Association
Steenhoek
George.ford
Iowa Policy Project
David Osterberg
Osterberg
Cedar Rapids Metropoles
Ital
Steve Rosen
Kansas City Star
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