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Consumer Corner: Foreclosure settlement no magic bullet for economy
NEW YORK, Sept. 25 (UPI) -- U.S. markets fell Friday as Group of 20 world leaders met for the second day of an economic summit in Pittsburgh.
President Barack Obama announced the G20 nations had superseded the longer-standing Group of 8 on economic issues. But Peter Morici, a former chief economist with the U.S. International Trade Commission said the announcement is not Earth shattering. It "merely recognizes reality," he said.
By close, the Dow Jones industrial lost 42.25 points, 0.44 percent, to 9,665.19. The Standard & Poor's 500 slid 0.61 percent, 6.40 points, to 1,044.38. The Nasdaq composite index lost 0.79 percent, 16.69 points, to 2,090.92.
On the New York Stock Exchange, 1,358 stocks advanced and 1,633 declined on a volume of 4.5 billion shares traded.
The benchmark 10-year Treasury rose 15/32 to yield 3.324 percent.
The euro rose to $1.4675 from Thursday's $1.4656. Against the yen, the dollar fell to 89.74 yen from Thursday's 91.22 yen.
In Japan, the Nikkei 225 index lost 278.24 points, 2.64 percent, to 10,265.98.
In Britain, the FTSE 100 index rose 0.06 percent, 2.93 points, to 5,082.20.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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WASHINGTON, Feb. 13 (UPI) --
GE Aviation announced it is expanding its business in the United States with the addition of three new manufacturing and development facilities.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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