NEW YORK (AP) — Stocks have risen as a report showing an improved trade deficit offset disappointing employment data. The Commerce Department says a surge in exports helped narrow the trade deficit. Meanwhile, the Labor Department says the number of newly laid-off workers seeking jobless benefits was up more than expected. The Dow Jones was up 80 points.
WASHINGTON (AP) — The Labor Department says initial claims for unemployment insurance rose by 17,000. Despite the jump, claims have fallen steadily since this summer. That's seen as a sign that job cuts are slowing and hiring could pick up as soon as early next year. The number of people continuing to claim benefits fell to the lowest level since February.
WASHINGTON (AP) — Some unexpected good news. The U.S. trade deficit narrowed in October as exports surged to the highest level in nearly a year. The Commerce Department says the trade deficit fell to just short of $33 billion, 7.6 percent below revised September figures. Economists had expected the deficit to increase to almost $37.8 billion.
NEW YORK (AP) — Shares of AOL dipped in early trading as the Internet company split from media giant Time Warner. AOL shares were issued at almost $24, but fell 67 cents in morning trading. Shares of Time Warner climbed more than one dollar to $30.34. AOL wants boost the advertising money it makes with its Web sites. It hasn't convinced investors that its turnaround strategy will pay off.
SAN FRANCISCO (AP) — Like just about everything else, the economic downturn has hit the casino industry. But while it has slowed the growth of the Indian gaming, that industry is faring better than traditional casinos. The Indian Gaming Report says revenues were up 1.5 percent last year -- the smallest increase since 1988 and down from 5 percent last year. The commercial casino sector saw revenue dropped 7 percent.
