Wall Street Falls on Korea Tensions and Weak Data
Stocks dropped Tuesday as North Korea South Korea flare ups and disappointing economic news spurred selling before Thanksgiving. The Dow slid 142.21 to 11,036.37, the S&P 500 declined 17.11 to 1,180.73, and the Nasdaq fell 37.07 to 2,494.95 as investors sought safety in the dollar and gold.
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North
South Korea
Standard & Poor
Treasury nets 11.7B from GM stock sale
The Treasury reports 11.7 billion dollars net from selling 358.5 million General Motors shares after fees, part of a 49.5 billion dollar bailout. It will also gain 2.1 billion from repurchased preferred stock under the TARP plan, expected in December.
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Treasury Department
General Motors
Treasury
Economy grows faster than estimated in July-September
The economy expanded at a 2.5 percent pace in the July-September quarter, up from 2.0 percent and above the April-June rate of 1.7 percent. Stronger consumer spending and firmer overseas demand drove the upward revision, though unemployment remains high.
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Commerce Department
U.S
Associated Press
Black Friday Faces Changing Retail Landscape This Year
Consumers may skip or delay shopping on Black Friday as surveys show rising apathy toward the traditional kickoff. Yet retailers remain hopeful with 138 million expected to visit stores, while data still place the day among the season’s top five sales days.
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Io vanwNle
Altimore
Greg Daugherty
Consumer Reports Magazine
Con
Accenture
National Retail Federation
Twitter
Facebook
Iowa October unemployment shows slim improvement across state
Iowa's seasonally adjusted nonfarm payroll rose by 8 100 in October while the statewide unemployment rate edged down to 6.7 percent from September. Cedar Rapids and Iowa City metros lowered jobless rates, with local summaries noting gains in staffing and ongoing momentum into the fourth quarter. Ed Tibbetts contributed to this report.
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Elisabeth Buck
Kerry Koonce
Jan Collins
Cambridge Tem Positions Inc
Cedar Rapids
Iowa City
C R export firm sees opportunities in Indonesia
Midamar Corp. President Bill Rossey hosted Indonesian officials inspecting six meat processing plants in Iowa Minnesota and New York to assess export eligibility. He aims to certify two plants for turkey beef chicken and duck exports to Indonesia under Halal guidelines while US grain production could keep prices stable to boost protein exports.
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U S exports to Indonesia rise across sectors
U S exports to Indonesia show strong gains with soybeans at 626 million up 46.2 percent, civilian aircraft 534.1 million up 44 percent, raw cotton 454.6 million up 33.4 percent, and wheat 364 million up 53.8 percent. Other notable increases include chemicals 244 million, dairy and eggs 200.1 million, steelmaking items 178.7 million, plastics 142.6 million, and animal feeds 133.9 million, each rising double digits.
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