Wednesday, November 26, 2008
Stocks try to shrug off earlier declines
Stocks try to shrug off earlier declines
U.S. stocks on Wednesday try to brush off early declines, pulling
mildly higher as President-elect Barack Obama details plans for an
economic advisory board.
RETAILERS PULL OUT ALL STOPS TO STIR BLACK FRIDAY BUYING
Retailers are making a historic Black Friday push, laying bets that
aggressive discounting and other incentives will set a more upbeat
tone than expected for the holiday shopping season.
ECONOMIC REPORT: OCTOBER DURABLE ORDERS DOWN 6.2%, TRANSPORTATION ORDERS FALL
Orders for U.S.-made durable goods fall 6.2% in October, the largest
decline in two years, the Commerce Department estimated, as orders for
transportation goods fell 11.1%.
CHINA SLASHES RATES TO KICK-START SLOWING ECONOMY
The People's Bank of China Wednesday slashes its lending and borrowing
rates by more than 1%, in addition to cutting banks' reserve
requirements sharply, to deliver its strongest response yet to a
recent slowdown in the mainland's economic growth.
EUROPEAN UNION PROPOSES $260 BILLION STIMULUS
The European Union proposes a 200 billion euro ($260 billion) effort
that would see member states coordinate attempts to provide a fiscal
jolt to the region's stagnating and shrinking economies.
