Wall Street indexes edge higher to 13 month highs
Major stock indexes posted modest gains on Tuesday pushing the Dow to about 10,437 the S&P 500 near 1,110 and the Nasdaq around 2,204 as the dollar rebounded in a zigzag session.
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 18, 2009
Page
6
Major stock indexes posted modest gains on Tuesday pushing the Dow to about 10,437 the S&P 500 near 1,110 and the Nasdaq around 2,204 as the dollar rebounded in a zigzag session.
A police source says the NYPD raided circulation offices of the Times Post El Diario and Daily News as part of a union corruption investigation. The 1,600‑member delivery union is under scrutiny after a previous accusation by the Manhattan DA’s office that it was mob‑run.
The Ford Fusion midsize car was chosen as Motor Trend magazine's 2010 Car of the Year beating about two dozen competitors. The award honors a vehicle that is totally new or substantially redesigned and released within the prior 12 months before November 1.
Home Depot, the largest U S home improvement retailer, reported a 9 percent drop in third quarter profit with net income of 689 million dollars or 41 cents a share. Revenue declined 8 percent to 16.36 billion dollars beating analysts expectations, as demand remained soft in a weak housing market. Lowe's also posted a quarterly revenue and profit decline a day earlier.
Target Corp said its third quarter profit rose 18 percent to $436 million, 58 cents a share, as it cut costs and improved its credit card business. Revenue grew 1.1 percent to $15.28 billion, from $15.11 billion a year earlier, while offering a cautious holiday outlook citing promotions to lift sales.
Iowa Workforce Development begins mailing notices to about 20 000 unemployed residents who exhausted benefits and may qualify for 14 extra weeks funded by federal workers act. Tier 2 already added one week, Tier 3 could add 13 more weeks, totaling up to 47 weeks. Program expires Dec 31 unless Congress extends it.
Chicago retailers brace for a chaotic Black Friday as crowds gather before dawn behind glass doors. The National Retail Federation issued crowd-control guidelines while Walmart plans to keep stores open from Thanksgiving through Friday night to curb lineups and stampede risk.
Marietta Pennsylvania reports vaccines energize a broad range of firms from biotech startups to Johnson & Johnson. Growth driven by profits, tech advances, and government support shifts vaccines from niche to major growth driver, with billions in grants accelerating development and manufacturing.
The Federal Reserve said it will shorten the maximum maturity of emergency loans to 28 days from 90 days, effective January 14, as financial conditions improve. The move aims to relieve credit strains and encourage lending to businesses and households while scaling back crisis programs. The Fed keeps loan recipient identities confidential to prevent runs on banks.
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