Construction spending rises 1 percent in October
Construction outlays rose 1 percent in October reaching the highest annual rate in over two years. Residential spending led gains with a 2.3 percent rise to 187.4 billion, while nonresidential spending slipped 0.2 percent. Government outlays edged up 0.4 percent to 119.4 billion as the year progresses.
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Washington
Commerce Department
Federal Home Loan Mortgage Corp
Market Wrap Latest U S Stocks Fall Amid Profit Taking
New York stocks drift after profit taking with the Dow Jones down 1.35 to 3303.81 at midday. NYSE listings show 792 up, 841 down, 651 unchanged with 117.38 million shares traded. Omaha and St Joseph livestock markets report varied hog and cattle quotes and steady to higher weights.
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Short-term Bills Rise at Auction in Washington
The Treasury sold 11.85 billion in three month bills at a 3.31 percent average discount, up from 3.27 percent. Six month bills totaling 11.8 billion averaged 3.46 percent, up from 3.45 percent. Both rates are the highest in five months. A separate Fed report shows the one year Treasury bill yield rising to 3.76 percent from 3.73 percent.
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TWA to Maintain UPS Jets at Kansas City Base
Trans World Airlines signs a contract to maintain 10 United Parcel Service jets at its Kansas City overhaul base next year, potentially recalling 70 to 90 laid-off workers as the base continues to shed jobs. The deal comes as TWA battles cash flow and Chapter 11 bankruptcy, with city backing for interim financing if needed.
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Pepsico to take $1 billion fourth quarter charges
Pepsico Inc will incur nearly one billion dollars in charges in the fourth quarter due to two mandatory non-cash accounting changes. The changes affect retirees health benefits and corporate income taxes, required by the Financial Accounting Standards Board.
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Pepsico Inc
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Dollar mixed in European trading
The dollar moved unevenly in early European trading with Tokyo closing at 124.72 yen, down 0.03 from Monday. It fell to 1.5895 German marks and 1.4280 Swiss francs while rising to 1.2892 Canadian dollars and 5.4175 French francs as other rates shifted from late Monday levels.
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London
Tokyo
Index pegs jump in manufacturing
New York AP reports American manufacturing surged for the second straight month in November boosting the economy to its best level since May. The National Association of Purchasing Management index rose to 55.0 percent from 50.6 in October, signaling expansion in manufacturing and contributing to overall economic improvement.
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New York
National Association of Purchasing Management
U.S
Washington
Commerce Department
Farm prices slip in mixed market
The USDA reported November receipts fell as a bumper crop pushed corn to 1.96 a bushel the lowest since 1988. Prices also declined for lettuce, tomatoes, grapefruit and milk while oranges and strawberries led fruit gains. Wheat and soybeans rose, with cattle and hogs slipping from October levels.
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Agriculture Department
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