U.S. markets edge higher Wednesday

In meeting minutes released Tuesday, the Fed pointed to positive data in housing and manufacturing, but said credit remained tight and employment would likely be weak for an extended period.

Jobless claims drop substantially

The 466,000 initial claims was a decline of 35,000 and contributed to a four-week rolling average of 496,500.

Consumer spending rose in October

Spending, a major portion of the gross domestic product, rose 0.2 percent in July, 1 percent in August and dropped 0.6 percent a month ago.

New homes sales rose in October

Economists predicted an increase of sales to 407,000 new homes on a seasonally adjusted annual basis. Sales rose from 405,000 in September to 430,000, a jump of 14.9 percent over October 2008.

U.S. markets edge higher Wednesday morning

In meeting minutes released Tuesday, the Fed pointed to positive data in housing and manufacturing, but said credit remained tight and employment would likely be weak for an extended period.

Airlines crowds arrived early this year

Chief Executive Officer of FareCompare.com Rick Seaney said, everybody's looking at every dime. They're all worried about their jobs.

Saab's future is back in GM's hands

Swedish sports car maker Koenigsegg backed out of plans to buy Saab, blaming delays in reaching a deal.

U.S. Army deal for Gen. Dynamics Canada

The contract is for 724 LAVs, scheduled to start rolling off the production line in April 2011, the London Free Press reported Wednesday.

Durable goods orders slid in October

Economists had forecast a rise of 0.5 percent. Instead, new orders dropped by $1 billion to $166.2 billion, the report said.

Bigger crowds expected on Black Friday

The retailers are very optimistic heading into Friday, says Chris Jaeger, manager of the Bayshore Town Center in Glendale, Wis.

U.S. markets edge higher Wednesday morning

In meeting minutes released Tuesday, the Fed pointed to positive data in housing and manufacturing, but said credit remained tight and employment would likely be weak for an extended period.

FAA fines airlines for stranding

The penalty is the first by the Federal Aviation Administration involving passengers being left on the tarmac for an unreasonable period, The Wall Street Journal reported. The companies involved are Continental Airlines and ExpressJet, a Continental feeder, as well as Mesaba Airlines, a Delta subsidiary.