Saks quarterly loss not as deep as expected (Reuters)
Reuters - Upscale department store operator Saks Inc posted a narrower-than-expected quarterly loss on Tuesday as it trimmed costs while well-heeled shoppers held back from pricey purchases.
(AP)
AP - Wholesale prices fall 0.9 percent in July, pushing annual inflation to record low.
Cantor: Stimulus not working as well as advertised (AP)
AP - A member of the House Republican leadership says he doesn't think the $787 billion economic stimulus program the Obama administration pushed through Congress earlier this year has worked as advertised.
German investor confidence up sharply in August (AP)
AP - Investor confidence in Germany, Europe's biggest economy, rose sharply in August as hopes grew that the economy will recover faster than previously expected, a closely-watched survey showed Tuesday.
The Dow Jones industrials' moves since Lehman fall (AP)
AP - How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. Since Lehman's fall, which touched off a paralysis of the credit markets and deepened the recession, the stock market has gone through an extended period of volatility before kicking into a big rally starting this spring. The numbers are the closing levels for the Dow:
Summary Box: Fed extends lending program (AP)
AP - WHAT HAPPENED?: The Federal Reserve said it's extending a program that was due to end Dec. 31. The major part of the program, aimed at boosting consumer and business lending, will now run through March 31. Another part that supports new loans for commercial mortgage-backed securities will be extended through June.
Rates drop at weekly Treasury auction (AP)
AP - Interest rates on short-term Treasury bills fell in Monday's auction with rates on six-month bills dropping to the lowest level this year.
With credit tight, Fed extends consumer loan plan (AP)
AP - With banks limiting the availability of auto, student and other consumer loans, the Federal Reserve said Monday it would extend a program intended to help spur more lending at low rates.
Credit trends improve for most credit card issuers (AP)
AP - Most major credit card companies say fewer customers defaulted on their accounts in July, but that doesn't necessarily mean they're financially better off.
Park Service says visits to national parks are up (AP)
AP - It could be the upside of the economic downturn: The Obama administration says visits to national parks are up nearly 4 percent this year.
Investors sell off commodities; silver sinks 5 pct (AP)
AP - Commodities prices sank across the board Monday as investors sought safer assets on fears that consumers' reluctance to spend is will stymie the economic recovery.
U.S. builders upbeat, manufacturing shows some life (Reuters)
Reuters - More signs the U.S. economy was exiting its worst recession in 70 years emerged on Monday with reports showing confidence rising among homebuilders, factory activity perking up in New York state and credit card defaults slowing.
Dollar rises on continued worries about consumers (AP)
AP - The dollar rose Monday as investors continued to worry about consumer spending, while the Federal Reserve said most banks expect their lending to remain tight through the second half of next year.
Fla. population drops for 1st time since 1946 (AP)
AP - Researchers say Florida's population has declined for the first time in 63 years and economists are blaming what else? the recession.