As Stocks Tank, Campbell's Proves Hearty

Growth fits economists' predictions

(AP) - The economy grew slightly faster over the summer as Americans spent a little more freely: The GDP grew at a 2% rate during the third quarter, in line with what economists had forecast. It marks a slight improvement over last quarter, when the GDP grew at a 1.7% rate. Consumers helped boost last quarter's economic growth with 2.6% growth in spending, the biggest quarterly increase since the end of 2006, before the recession hit. More»

(NEWSER) - Markets were off today on news that credit raters might downgrade England and other countries, the Wall Street Journal reports. Though oil remained stable, the stocks of construction-related firms like Home Depot, Caterpillar, and Alcoa plunged; the price of gold surged. The Dow was off 129.91 to 8,292.13. The S&P fell 15.14 to 888.33. The Nasdaq ended 32.59 lower at 1,695.25. More»

(NEWSER) - Stocks plummeted at today’s open after Standard & Poor’s warned it might downgrade the UK’s credit rating, the Wall Street Journal reports. The Dow tumbled 126 points, while the Nasdaq and S&P each fell more than 1%. Investors now fear other major economies, including the US, could face downgrades. Job data were mixed, with initial claims falling 12,000, but continuing claims climbing 75,000 to a record 6,662,000. More»

Dow drops 30 points after bell

(NEWSER) - Stocks sank after the opening bell this morning, with traders’ eyes still on troubled banks, which face regulators’ stress tests starting today, the Wall Street Journal reports. The Dow quickly plunged 30 points; the S&P slipped 0.5% with a 2.2% drop in financials; and the Nasdaq tumbled 0.5%. It was the markets’ first chance to react to President Obama’s speech to Congress last night detailing his economic plan, MarketWatch notes. More»

Still 'edgy,' notes analyst

(NEWSER) - European stocks edged up today for the first time in three days on news of the US government's $85 billion bailout of insurance giant AIG—but an early rally in Asian markets faded, reports Bloomberg and the New York Times. Europe's Stoxx 600 climbed as much as 1.9% after trading opened. The FTSE 100 index in London and CAC-40 in Paris both climbed 1.2%. Trading was mixed in in Asia, rattled by continuing concerns about the US and a Chinese real estate meltdown. More»