Germany and France exit recession (Reuters)
Reuters - Germany and France achieved a shock return to economic growth in the second quarter of the year, ending their recessions earlier than many policymakers and economists expected, but failed to drag the euro zone with them.
Best Buy $9.99 TV offer was too good to be true (AP)
AP - Few if any of the deals retailers have offered online during the recession have been as good as Best Buy Inc.'s sale price of $9.99 on a 52-inch TV Wednesday. But it quickly turned out the offer was too good to be true.
IBD's Top 10 - Wednesday (Investor's Business Daily)
Investor's Business Daily - 1 Economic activity is "leveling out" from a recession that began in Dec. '07, the Federal Reserve said, upgrading its June view that saw continued contraction. The Fed said it will stop buying Treasury securities, a first step toward ending stimulus programs. It vowed to keep interest rates near zero on concerns about job losses, sluggish income growth and tight credit.
Fed Says Economy 'Leveling Out,' But Weakness Remains (Investor's Business Daily)
Investor's Business Daily - The economy is showing signs of emerging from its deepest recession in decades, the Federal Reserve said Wednesday, as it took a first step toward withdrawing huge stimulus programs credited with preventing an even steeper slump.
Best Buy $9.99 TV offer was too good to be true (AP)
AP - Few if any of the deals retailers have offered online during the recession have been as good as Best Buy Inc.'s sale price of $9.99 on a 52-inch TV Wednesday. But it quickly turned out the offer was too good to be true.
Citigroup shares gain nearly 8 percent (AP)
AP - Shares of Citigroup Inc. rose nearly 8 percent Wednesday, outpacing gains among other financial stocks, amid a brighter outlook on the economy from the Federal Reserve.
ETFs Rally As Fed Holds Interest Rates (Investor's Business Daily)
Investor's Business Daily - Stock ETFs rallied across the board while Treasuries and the dollar skidded as the Federal Reserve said the recession appears to be waning. It said it would keep the key bank lending rate at a record low near zero for "an extended period" to help recovery.
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:
Metals rise on weak dollar, upbeat outlook (AP)
AP - A weaker dollar and a more upbeat outlook on the economy sent prices for gold, copper and other metals slightly higher.
Oil rises as US imports jump, China buys crude (AP)
AP - Oil prices rose Wednesday as the market reacted favorably to signs of an increase in future demand in China and a further loosening of the recession's grip in the U.S.
A look at the last 2 Fed statements on economy (AP)
AP - A look at the evolution of the Federal Reserve's statements on the economy from its two most recent meetings:
Starwood Property Trust shares dip in debut trade (AP)
AP - Shares of hotel magnate Barry Sternlicht's Starwood Property Trust Inc. initially declined on their first day of trading Wednesday before closing unchanged, even as the broader markets edged up after the Federal Reserve left a key interest rate at a record low.
Dollar falls on Fed optimism on the economy (AP)
AP - The dollar fell Wednesday after the Federal Reserve delivered a vote of confidence in the economy and held a key bank lending rate at a record low near zero.
Atlantic City wants $20M a year to promote itself (AP)
AP - Many Americans know that "What happens in Vegas stays in Vegas."