Stocks edge up as inflation data steadies markets
Markets gained some momentum on Thursday as fresh data showed inflation remains tamed while volatile oil prices paused gains. Analysts monitor signs of market stabilization in the second half of the year amid choppy trading. The Dow rose 13.13 to 10,244.49 and Nasdaq increased 7.56 to 1,904.08 as advancers outpaced decliners about 3 to 1 on the NYSE.
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New York Stock Exchange
Maytag to lay off workers at Newton plant this month
Maytag Corp plans job cuts at its washer and dryer plant in Newton due to weak demand for Neptune and Atlantis models. Spokeswoman Lynne Drago mier would not disclose the number of affected positions, marking the first layoffs since a July contract with United Auto Workers Local 997 ended a 27 day strike. TSA to require jackets off and stricter pat-downs and explosive checks for air travelers starting next week. Yolanda Clark said screeners will brief passengers as they place carry-ons on the belt.
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Maytag Corp
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Lynne Dragomier
Neptune
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United Auto Workers Local 997
Transportation Security Administration
TSA
Yolanda Clark
Mortgage rates dip for 30 and 15 year loans
Freddie Mac reports weekly mortgage rates for the week ending September 16. The 30 year fixed rate falls to 5.75 percent, down from 5.83 percent, the lowest since April. The 15 year fixed rate drops to 5.13 percent, from 5.22 percent. One year adjustable rates rise to 4.03 percent from 4.00 percent.
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Freddie Mac
Iowa OKs job-creation incentives amid funding concerns
Iowa officials approved 12.7 million in tax benefits and 240 thousand in loans to foster 134 jobs while seeking a multiyear funding plan for the Values Fund. The board warned that permanent funding remains uncertain as state economists warn of a potential budget hole of 400 to 600 million without a long term strategy.
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de Gazette
Des Moines
Iowa
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Blouin
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Iowa Values Fund
Values Fund Board
Values Fund
Former Square D chief urges bold business climate in U S
Maquoketa native Jerre Stead executive chairman of Information Handling Services spoke in Cedar Rapids at the Advertising Federation luncheon. He touted global markets, rapid tech progress, and U S leadership, noting agriculture exports to China by 2040 and stressing higher education as Iowa’s competitive edge. He urged strong corporate governance and accountable boards.
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Gazette
Cedar Rapids
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America
Stead
Denver
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Square D Co
United States
U.S
China
University of Iowa
McLeodUSA Settles SEC Probe Over Long Term Leases
McLeodUSA Inc agreed to provide more thorough information to investors after settling an informal SEC probe into long term network leases. The SEC found the Cedar Rapids provider sold unused capacity as leases under non GAAP EBITDA without clear income streams. The company ceases the matter with a consent order and seeks to focus on growth and service.
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SEC
Cedar Rapids
McLeodusa
Tom Meier
Midwest
McLeod- USA
Iowa unemployment picture stabilizes
Iowa gains 3,700 jobs from July to August as non farm employment hits 1,558,100, the year's high. Unemployment rises to 4.5 percent with 74,200 unemployed, while Linn County sees a 3,900 job drop and 5,200 unemployed. Government jobs rise 1,800 offsetting prior month decline. trade gains 1,700 from Jordan Creek Town Center opening. Median weekly pay climbs to 459.29 dollars.
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Dave DeWitte
The
Gazette
Richard Running
Iowa
Johnson County
Linn County
Jordan Creek
West Des Moines
Consumer prices edge up in August CPI shows tiny rise
Washington AP reports consumer prices rose 0.1 percent in August, signaling tame inflation. Core prices excluding energy and food also rose 0.1 percent for the third straight month, aided by declines in clothing, autos, and airfares.
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Washington
Federal Reserve
Labor Department
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