Dow Climbs as GM Leads Gains on Hope of Rate Cut
Stocks rebound from summer slump as manufacturing and construction data strengthen bets on a rate cut. Tech shares rebound, with General Motors rising 1.18 to 31.92 as the Dow gains 91.12 to 13,448.86, the S&P 500 up 15.43 to 1,489.42, and the Nasdaq up 33.88 to 2,630.24.
MENTIONED IN THIS ARTICLE
Dow
General Motors Corp
Standard & Poor
Airlines raise fares after Southwest boosts prices
Southwest Airlines raised one way ticket prices by up to ten dollars in long routes and by smaller amounts in short and medium haul markets. United Airlines quickly matched the increase in overlapping routes as fuel costs drive higher fares.
MENTIONED IN THIS ARTICLE
U.S
Southwest Airlines
Southwest
Albuquerque
N.M
Baltimore
Whitney Eichinger
United Airlines
T-bill rates dip in Tuesday auction across short notes
Treasury raises hopes with lower rates on three month and six month bills. Three month bills sold at 4.350 percent, down from 4.600 percent last week, while six month bills fetched 4.380 percent, down from 4.590 percent. The three month rate marks the lowest since August. The one year bill average yield rose to 4.30 percent from 4.16 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Unemployment tax rates held steady in Iowa for 2007
Iowa Workforce Development will keep unemployment tax rates unchanged for 2007 marking six straight years of stability. Director Elisabeth Buck notes Iowa has one of the nation’s lowest rates with nearly half the employers at zero percent and over 75 percent paying under one percent.
MENTIONED IN THIS ARTICLE
Iowa
Elisabeth Buck
Gas price survey update in the Corridor 2006
A random survey shows unleaded regular ethanol priced at 2.42 dollars as the low price today in the Corridor. Prices are rounded to the nearest cent and reflect yesterday afternoon readings from stations on Station Road and Ranger at 1st Avenue and 15th Street.
Health insurance costs rise 8.2 percent in Iowa in 2007
The Iowa Employer Benefits Study reports premiums up 8.2 percent last year the slowest rise since 2001 while deductibles and co payments rose. Small firms saw higher increases and many employers adopted higher deductibles and consumer driven plans to curb costs.
MENTIONED IN THIS ARTICLE
David DeWitte
Gazette
Iowa
David P. Lind & Associates
Lind
Teena's Classic Furniture opens in Cedar Rapids store
Teena Theiss opens Teena's Classic Furniture & Interior Design at 829 Second Ave SE Cedar Rapids in October 2004. The former Jeff Jones Furniture space now hosts a consignments model with weekly arrivals and regular hours, including targeted appointments to suit customers.
MENTIONED IN THIS ARTICLE
Jim Slosiarek
the Gazette
Teena Theiss
Teena
Classic Furniture & Interior Design
Cedar Rapids
Jeff
Smulekoff
Second Ave SE
Teena Thesss
Theiss
Second Ave
Federal regulators urge mortgage servicers to aid at risk borrowers
The Federal Reserve and banking agencies issue non binding guidance urging loan service companies to work with borrowers facing potential defaults on adjustable rate mortgages. Regulators stress proactive outreach as 2 million ARMs reset by end of 2008 amid housing downturn and rising defaults.
MENTIONED IN THIS ARTICLE
Washington
The
Federal Reserve
Sheila Bair
Federal Deposit Insurance Corp
Fed
Bush
Hold DaimlerChrysler stock amid mixed forecasts and divestiture concerns
Wall Street analysts urge holding DaimlerChrysler stock after the DaimlerChrysler AG split with Chrysler LLC. UBS sees upside to about 120 a share while Zacks forecasts 100. Bank of America stays neutral with a 97 target. DaimlerChrysler remains praised for diesel expertise and Europe truck business despite market caution.
MENTIONED IN THIS ARTICLE
Wall Street
DaimlerChrysler
Trip Bosart
Wachovia Securities
Birmingham
Chrysler Corp
DaimlerChrysler AG
Chrysler
Cerberus Capital Management
Chrysler LLC
Daimler AG
Daimler
Max Warburton
UBS
Zacks.com
Paul Raman
Bank of America
Warburg Financial
Jairam Nathan
Mercedes
Lexus
Europe
Toyota
Nathan
Bosart
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Gazettacommunications.com
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Susan Tompor
Detroit Free Press