Bad Day for the Markets, Despite Good News from the Fed
Hemera/Thinkstock(NEW YORK) — The markets on Wednesday suffered their worst day in months, despite an encouraging report from the Fed.
The Dow dropped 129 points, the Nasdaq lost 13 and the S&P gave up nine.
Meanwhile, the Fed offered a rosy outlook on growth in its latest “Beige Book.” It says nearly all parts saw stronger economic growth helped by an improving housing market since the middle of August. At the same time, consumer spending was flat or only up slightly in most districts.
The Labor Department says the nation’s employers advertised slightly fewer jobs in August than July. At the same time, they filled the most jobs reported in three months.
United Airlines is raising prices on most domestic flights by up to $10 per round trip. Fare Compare says it’s the 12th attempt this year by airlines to raise fares, but only four have succeeded.
Want it today? Two more retailers say no problem, as long as you order by noon. Amazon and Wal-Mart are the latest to offer same-day delivery in time for holiday shopping.
Copyright 2012 ABC News Radio
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