NEW YORK (AP) — Traders will be looking for better results when the stock market opens in a few hours.The Dow yesterday lost 238.19 points, or 1.4 percent, to 16,804.71. The S&P 500 index lost 26.13 points, or 1.3 percent, to 1,946.16 and the Nasdaq lost 71.30 points, or 1.6 percent, to 4,422.09.
WASHINGTON (AP) — The Labor Department will release the weekly jobless claims number today and the Commerce Department will report factory orders for August. Also today, Freddie Mac will release weekly mortgage rates.
CHICAGO (AP) — With just over a month before the mid-term elections, President Barack Obama is appearing at Northwestern University today seeking to frame the closing economic arguments of the campaign. The speech in Chicago is designed to let voters know that he hasn’t forgotten about their financial struggles despite weeks of being consumed by global crises and a Secret Service scandal at home.
NAPLES, Italy (AP) — European Central Bank head Mario Draghi is expected today to underline the bank’s willingness to deploy more economic stimulus measures, a stance that could send the euro skidding even lower. And a drop in the currency — which helps eurozone exporters and could nudge up troublesome low inflation — might be the most effective stimulus to come out of the ECB’s monthly meeting.
SACRAMENTO, Calif. (AP) — A federal judge has struck a blow against the sanctity of public pensions in California by ruling that U.S. bankruptcy law permits the city of Stockton to treat pension fund obligations like other debts, allowing the city to cut benefits. Stockton argued that it must make its pension contributions for public employees before its creditors are paid the entire amount they are owned.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
