Update on the latest in business: | KXNet.com North Dakota News
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Update on the latest in business:Nov 11 2009 2:55AM
Associated Press NEW YORK (AP) Stocks ended mixed Tuesday. The Dow Jones industrials gained 20 points to 10,247 in light trading. After six straight session gains, the S&P ended flat at 1,093. And the Nasdaq dropped 3 points to 2,151. The bond market is closed for Veterans Day, but stocks will be traded. No new economic data is due. WORLD MARKETS Asian stocks mostly higher after China, Japan data TOKYO (AP) Asian stock markets are mostly higher after figures from China and Japan showed the region's two biggest economies on track to recovering from the global downturn. But the region's advance, its fourth in a row, appeared to slow as investors tread cautiously following recent gains and a lackluster session on Wall Street. The dollar and oil prices slipped modestly. JAPAN-GEITHNER Geithner encouraged by Japan's focus on domestic TOKYO (AP) Treasury Secretary Timothy Geithner says he's "encouraged" by Japan's attempts to make its economy more dependent on domestic consumer demand as opposed to its traditional reliance on exports. Geithner's comments came after he met today (Wednesday) with Japan's prime minister and finance minister. Geithner was in Tokyo on his way to joining other Pacific Rim finance ministers at an annual summit in Singapore. OIL PRICES Crude falls as Ida weakens SINGAPORE (AP) Oil prices fell below $79 a barrel today in Asia as investors mulled rising U.S. oil inventories and a weaker dollar. Benchmark crude for December delivery down 14 cents to $78.91 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 38 cents to settle at $79.05 on Tuesday. U.S. oil inventories rose last week, according to the American Petroleum Institute. Crude has bounced near $80 a barrel for the last few weeks as traders eyed mixed U.S. economic data and the threat of Ida, a one-time hurricane in the Gulf of Mexico that weakened significantly before reaching oil installations near the Gulf Coast on Tuesday. BEST BUY-FITNESS EQUIPMENT Best buy selling fitness equipment in dozens of stores NEW YORK (AP) Beginning today, Best Buy will sell health and fitness equipment in 40 stores across the U.S. It may seem like a stretch for it to branch into territory dominated by sporting goods stores and chains like Sears and Target, but Best Buy calls it a natural extension. Of more than 1,000 stores nationwide, 40 in Arizona, Colorado, Iowa, Maryland, Massachusetts, Nebraska, New Mexico and Texas will offer equipment related to running, walking, swimming, yoga and other activities, including pedometers, special MP3 players, yoga mats, scales and blood pressure monitors. They also will offer treadmills, stationary bikes and elliptical machines. In some locations, customers will be able to try out the equipment. The products also are available online. REAL ESTATE SURVEY Survey: Just 5 percent of Americans plans to buy a home next year NEW YORK (AP) A new survey finds that just one in 20 Americans say they plan to buy a home within the next year. They are most likely to be 34 years old or younger and living in the South or West. Roughly a quarter of potential buyers said the No. 1 reason they would buy now is because prices appear to have bottomed out. That reason topped bargain-priced foreclosures, worries about rising interest rates and a wide selection of homes. The survey, conducted for Move.com reveals how Americans are responding to a nascent and fragile housing recovery after three years of staggering price declines. The percentage of buyers thinking of jumping into the market was down slightly from a March survey, but up about 1 point from a poll in June. JOB OPENINGS Job openings remain close to record lows Washington (AP) New reports from government and private industry indicate that job openings are at rock-bottom levels. And that could keep the unemployment rate high even as layoffs slow. Small businesses are reluctant to add workers as they struggle to obtain credit. Many are pushing their current employees to produce more. Economists say small businesses account for about 60 percent of new jobs. Still, there are some pockets of hiring as demand for information technology and sales professionals grows. And there are signs that companies are adding more human resources personnel, which could signal more hiring down the road. The Labor Department says there are about 6.1 unemployed workers, on average, competing for each job opening. It's a sharp increase from only 1.7 workers per opening when the recession began in December 2007. (Copyright 2009 by The Associated Press. All Rights Reserved.) APNP 11-11-09 0245CST |
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