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Dow down, broader indexes up...Treasury resuming security sales...Philadelphia slowdown

Thursday - 10/17/2013, 3:30pm  ET

NEW YORK (AP) -- The broader indexes are higher in afternoon trading, but the Dow is being weighed down by a trio of companies who turned in disappointing third-quarter financial results. Shares of IBM, Goldman Sachs and UnitedHealth were all seeing big declines, and that has the Dow off about 50 points. The S&P and the Nasdaq are both higher.

WASHINGTON (AP) -- The Treasury Department is rolling back the extraordinary measures it's been using since May to keep the government from breaching the debt limit. As a first step, it will resume sales of state and local government Treasury securities. States and cities use these securities to keep money temporarily before it's used in such areas as construction projects. Treasury stopped issuing the securities in May to keep the government from exceeding the $16.7 trillion debt limit.

WASHINGTON (AP) -- A Federal Reserve survey shows manufacturing activity in the Philadelphia region slowed this month. The slightly weaker reading followed a report earlier this week that factory growth in the New York region declined this month. The drop in activity in both regions is being blamed in part on the partial shutdown of the federal government, which ended today.

WASHINGTON (AP) -- Mortgage rates have ticked higher this week, but they remain near three-month lows. Mortgage buyer Freddie Mac says the average rate on the 30-year loan increased to 4.28 percent from 4.23 percent last week. The average on the 15-year fixed loan edged up to 3.33 percent from 3.31 percent.

SAN FRANCISCO (AP) -- Green Bay Packers fans can own a piece of the team. Now, fantasy football enthusiasts may soon be able to own a piece of their favorite player, or at least his paycheck. In an IPO filing, Fantex Inc. proposes to sell stock for a stake in the future income of Houston Texans running back Arian Foster. Fantex would use the money raised in the IPO to pay Foster $10 million in return for a 20 percent share of his remaining contract with the Texans, his endorsement income and any other future money tied to his football career.


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