NEW YORK (AP) -- Some signs of movement on the budget stalemate in Washington have helped slow Wall Street's slump. The Dow and the S&P 500 closed with small gains today. The bluechip index rose 26 points, or 0.2 percent, to close at 14,803, while the S&P gained a point, or less than 0.1 percent, to finish at 1,656. However, the Nasdaq fell 17 points, or 0.5 percent, to 3,677.
NEW YORK (AP) -- The nation's largest manager of money market mutual funds has sold off its short-term U.S. government debt. Fidelity Investments says its portfolio managers have been selling off debt due around the time the nation could hit its borrowing limit. The head of Fidelity's Money Market Group say the company does expect the debt ceiling issue to be resolved, but it has to take precautionary measures to protect investors.
WASHINGTON (AP) -- President Barack Obama's nominee to succeed Ben Bernanke as chair of the Federal Reserve says more needs to be done to strengthen the U.S. economy. Janet Yellen, the Fed's current vice chair, says the past six years have been tumultuous for the economy and challenging for many Americans and, despite progress, the recovery is not complete.
WASHINGTON (AP) -- Minutes of the Fed's policy-making meetings last month say it was a "close call" when the panel ended up voting 9-1 to keep bond purchases at the current level of $85 billion a month. The purchases are intended to keep long-term interest rates low to encourage more borrowing and spending. While nearly every Fed member thought that the central bank should see more evidence that the economy was improving before slowing purchases, there were worries that a delay would confuse financial markets.
WASHINGTON (AP) -- The Agriculture Department is threatening to shut down three California poultry processing facilities linked to a salmonella outbreak that has sickened 278 people across the country. The USDA says Foster Farms has until tomorrow to tell the department how it will fix the problem. The company has not recalled any of its products, despite USDA sampling last month that showed raw chicken processed at the three facilities had strains of salmonella.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.