New home sales and factory orders fall in August
New home sales tumbled in August to the slowest pace in 17 years, while the average sales price fell by the largest amount on record, demonstrating the depth of the problem that Washington is trying to solve.
Jobless claims pushed to 7-year high
New claims for unemployment benefits jumped last week to their highest level in seven years due to the impact of a slowing economy and Hurricanes Ike and Gustav, the Labor Department reported Thursday.
Durable goods orders drop 4.5 percent in August
Orders for big-ticket manufactured goods plunged in August by the largest amount in seven months as demand for both airplanes and autos fell sharply.
Stocks rise on bailout hopes; credit remains tight
Financial markets grew more upbeat Thursday as congressional leaders said they had struck an agreement in principle on the government's plan to revive the crippled financial system. The Dow Jones industrial average rose as much as 300 points on optimism about the plan, and demand for short-term, safe-haven assets eased slightly as some investors bet that a deal would help unclog credit markets.
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New home sales tumbled in August to the slowest pace in 17 years, while the average sales price fell by the largest amount on record, demonstrating the depth of the problem that Washington is trying to solve.
Jobless claims pushed to 7-year high
New claims for unemployment benefits jumped last week to their highest level in seven years due to the impact of a slowing economy and Hurricanes Ike and Gustav, the Labor Department reported Thursday.
Durable goods orders drop 4.5 percent in August
Orders for big-ticket manufactured goods plunged in August by the largest amount in seven months as demand for both airplanes and autos fell sharply.
Stocks rise on bailout hopes; credit remains tight
Financial markets grew more upbeat Thursday as congressional leaders said they had struck an agreement in principle on the government's plan to revive the crippled financial system. The Dow Jones industrial average rose as much as 300 points on optimism about the plan, and demand for short-term, safe-haven assets eased slightly as some investors bet that a deal would help unclog credit markets.
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