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USA UK and Malta News
09/10/2008 - 19:46

USA Today Editoweb 9 october 2008

Jobless claims drop from 7-year high - Stocks mostly lower as GM declines; techs rise - Oil prices drop despite news of emergency OPEC meet.



Jobless claims drop from 7-year high

New applications for unemployment benefits dropped last week from a seven-year high, the Labor Department said Thursday, though they remain at elevated levels that indicate recession.

Stocks mostly lower as GM declines; techs rise

tocks mostly declined Thursday, though with far less severity than in recent sessions, as weakness in the financial, energy and health care sectors overshadowed gains by technology issues.

Oil prices drop despite news of emergency OPEC meet

Oil prices sank Thursday as plunging stock markets outweighed news that OPEC will hold an emergency meet next month to discuss the impact of the chaos on world markets.

Dow, S&P slip as credit worries remain

Stocks mostly fell, reversing early gains in another choppy session on Thursday as investors worried that recent moves to thaw frozen credit markets might not be enough to avoid a global recession.

TSX gains as oil shares rise

The Toronto Stock Exchange's main index was higher at midday on Thursday after see-sawing throughout the morning on erratic swings in the energy group as the price of oil declined and investors mulled how much the credit crisis would hurt the global economy.

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